Amazon.com, Inc. $AMZN is Teachers Retirement System of The State of Kentucky's 5th Largest Position

Key Points

• Teachers Retirement System of The State of Kentucky increased its Amazon stake by 1.0% in the first quarter, bringing its holdings to 1,692,462 shares worth about $352.5 million. Amazon is now the fund’s 5th largest position and represents 2.7% of its portfolio.
• Institutional ownership remains very high, with hedge funds and other institutional investors holding 72.20% of Amazon shares. Several other funds also increased positions in recent quarters.
• Amazon continues to get bullish analyst support ahead of earnings, with many firms maintaining buy or overweight ratings and an average price target of $312.91. Recent commentary also highlights growth drivers like AWS, AI investment, and custom silicon, while insiders have sold shares over the past 90 days.

Teachers Retirement System of The State of Kentucky increased its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 1.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,692,462 shares of the e-commerce giant's stock after purchasing an additional 16,517 shares during the period. Amazon.com accounts for about 2.7% of Teachers Retirement System of The State of Kentucky's holdings, making the stock its 5th biggest position. Teachers Retirement System of The State of Kentucky's holdings in Amazon.com were worth $352,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of AMZN. Brighton Jones LLC raised its holdings in shares of Amazon.com by 10.9% in the fourth quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant's stock worth $885,478,000 after acquiring an additional 397,007 shares during the last quarter. Revolve Wealth Partners LLC increased its position in Amazon.com by 4.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant's stock worth $5,495,000 after purchasing an additional 986 shares in the last quarter. Bank Pictet & Cie Europe AG increased its position in Amazon.com by 2.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant's stock worth $442,481,000 after purchasing an additional 54,987 shares in the last quarter. Highview Capital Management LLC DE raised its stake in Amazon.com by 5.5% in the 4th quarter. Highview Capital Management LLC DE now owns 28,975 shares of the e-commerce giant's stock valued at $6,357,000 after purchasing an additional 1,518 shares during the last quarter. Finally, Liberty Square Wealth Partners LLC acquired a new position in Amazon.com in the 4th quarter valued at about $2,153,000. Hedge funds and other institutional investors own 72.20% of the company's stock.

Key Amazon.com News

Here are the key news stories impacting Amazon.com this week:

• Positive Sentiment: Options data and several analyst/commentary pieces suggest traders expect a post-earnings move higher, and multiple firms remain bullish on AMZN heading into the July 30 report. Ahead of Amazon Earnings, Here's What Barchart Data Says Comes Next for AMZN Stock
• Positive Sentiment: India eased e-commerce export rules, which is a win for Amazon’s international marketplace ambitions and could support long-term growth. India relaxes e-commerce investment rules for exports in win for Amazon
• Positive Sentiment: Several bullish research notes continue to frame AWS, custom silicon, and Amazon’s AI buildout as long-term growth drivers, with some investors arguing the capex surge should ultimately strengthen Amazon’s competitive moat. Amazon: Why The CapEx Surge Makes Me More Bullish, Not Less

Analyst Upgrades and Downgrades

Several research firms have issued reports on AMZN. Wells Fargo & Company set a $322.00 price target on shares of Amazon.com and gave the stock an "overweight" rating in a research note on Tuesday. KeyCorp set a $335.00 price objective on shares of Amazon.com and gave the company an "overweight" rating in a research report on Thursday, July 16th. Stifel Nicolaus set a $319.00 price objective on shares of Amazon.com and gave the company a "buy" rating in a research note on Thursday, April 30th. Pivotal Research restated a "buy" rating and set a $320.00 target price (up from $300.00) on shares of Amazon.com in a research report on Thursday, April 30th. Finally, Roth Capital lifted their target price on shares of Amazon.com from $285.00 to $300.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Fifty-seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $312.91.

Insider Buying and Selling

In other news, CEO Matthew S. Garman sold 15,467 shares of the business's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $263.40, for a total transaction of $4,074,007.80. Following the completion of the sale, the chief executive officer directly owned 14,159 shares of the company's stock, valued at $3,729,480.60. The trade was a 52.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jonathan Rubinstein sold 3,706 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $273.02, for a total value of $1,011,812.12. Following the completion of the transaction, the director directly owned 74,948 shares in the company, valued at $20,462,302.96. This trade represents a 4.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 140,425 shares of company stock worth $37,715,464 over the last 90 days. Company insiders own 8.90% of the company's stock.

Amazon.com Trading Down 0.7%

NASDAQ AMZN opened at $232.11 on Friday. The company has a market cap of $2.50 trillion, a P/E ratio of 27.76, a P/E/G ratio of 1.74 and a beta of 1.46. Amazon.com, Inc. has a 12 month low of $196.00 and a 12 month high of $278.56. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.01. The company has a 50-day moving average of $248.26 and a 200-day moving average of $236.32.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $1.15. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The firm had revenue of $181.52 billion during the quarter, compared to the consensus estimate of $177.28 billion. During the same period in the previous year, the firm earned $1.59 earnings per share. Amazon.com's revenue was up 16.6% compared to the same quarter last year. As a group, equities analysts predict that Amazon.com, Inc. will post 7.75 earnings per share for the current year.

About Amazon.com

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon's online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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