Amazon.com, Inc. $AMZN Position Increased by Busey Bank

Key Points

• Busey Bank increased its Amazon stake by 1.5% in the fourth quarter, adding 8,523 shares to bring its total to 577,663 shares worth about $133.3 million. Amazon is now Busey Bank’s 5th largest holding and makes up roughly 3.5% of its portfolio.
• Amazon’s latest quarterly results were better than expected, with earnings per share of $2.78 and revenue of $181.52 billion, both topping analyst estimates. Revenue rose 16.6% year over year, supported by strength in AWS and broader demand.
• Wall Street remains bullish on AMZN, with several analysts raising price targets after the earnings report. The stock currently carries a “Moderate Buy” consensus and an average target price of $313.09.

Busey Bank grew its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 577,663 shares of the e-commerce giant's stock after purchasing an additional 8,523 shares during the period. Amazon.com makes up about 3.5% of Busey Bank's holdings, making the stock its 5th largest holding. Busey Bank's holdings in Amazon.com were worth $133,336,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of AMZN. Norges Bank acquired a new position in Amazon.com in the 2nd quarter valued at about $27,438,011,000. Nuveen LLC purchased a new position in shares of Amazon.com in the first quarter valued at approximately $11,674,091,000. Laurel Wealth Advisors LLC grew its holdings in shares of Amazon.com by 22,085.8% in the second quarter. Laurel Wealth Advisors LLC now owns 12,177,557 shares of the e-commerce giant's stock valued at $2,671,634,000 after purchasing an additional 12,122,668 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Amazon.com by 21.3% in the first quarter. Goldman Sachs Group Inc. now owns 57,908,424 shares of the e-commerce giant's stock valued at $11,017,657,000 after purchasing an additional 10,176,835 shares in the last quarter. Finally, Capital Research Global Investors increased its stake in Amazon.com by 11.3% during the 3rd quarter. Capital Research Global Investors now owns 94,284,962 shares of the e-commerce giant's stock worth $20,702,362,000 after buying an additional 9,583,217 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com News Summary

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

• Positive Sentiment: Amazon’s latest earnings beat showed stronger-than-expected revenue and profits, while AWS growth and AI-related demand continue to support the long-term growth narrative. Amazon Over Spending on AI?
• Positive Sentiment: Amazon is opening its logistics network to outside customers through Amazon Supply Chain Services, creating a new revenue stream beyond retail and cloud. Amazon Bets Logistics Is the New Cloud
• Positive Sentiment: Amazon Pharmacy is expanding access to Novo Nordisk’s Ozempic pill through same-day delivery and kiosks, adding another growth angle in healthcare. Amazon to Carry Ozempic
• Positive Sentiment: Several analysts have raised price targets after the Q1 report, reflecting confidence that Amazon can keep compounding growth. Analyst Target Raises
• Neutral Sentiment: CEO Andy Jassy sold shares under a pre-arranged trading plan, which is notable but does not necessarily signal a change in fundamentals. Jassy Share Sale
• Neutral Sentiment: Some articles highlighted concerns about Amazon’s heavy AI and data-center spending, but investors appear willing to give the company time to convert that investment into future growth. Cash Burn Concern
• Negative Sentiment: An AWS cooling issue caused a brief outage that disrupted services at other platforms, reminding investors that cloud reliability remains a key risk for Amazon Web Services. AWS Outage

Insider Buying and Selling at Amazon.com

In other news, SVP David Zapolsky sold 10,649 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $205.43, for a total transaction of $2,187,624.07. Following the completion of the sale, the senior vice president owned 41,190 shares in the company, valued at approximately $8,461,661.70. This represents a 20.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew R. Jassy sold 31,352 shares of the firm's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $275.00, for a total value of $8,621,800.00. Following the transaction, the chief executive officer directly owned 2,175,766 shares in the company, valued at approximately $598,335,650. This represents a 1.42% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 191,593 shares of company stock valued at $46,289,241. Company insiders own 8.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on AMZN shares. China Renaissance raised their price target on shares of Amazon.com from $300.00 to $326.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $325.00 price objective (up from $275.00) on shares of Amazon.com in a research report on Thursday, April 30th. Tigress Financial lifted their target price on Amazon.com from $305.00 to $315.00 and gave the company a "buy" rating in a report on Wednesday, March 25th. TD Securities raised Amazon.com to a "buy" rating in a research note on Monday, April 13th. Finally, Truist Financial upped their price target on Amazon.com from $285.00 to $310.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Fifty-six analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Amazon.com currently has an average rating of "Moderate Buy" and an average target price of $313.09.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $272.62 on Friday. Amazon.com, Inc. has a 12 month low of $191.16 and a 12 month high of $278.56. The firm has a market capitalization of $2.93 trillion, a P/E ratio of 32.61, a P/E/G ratio of 1.97 and a beta of 1.46. 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's fifty day moving average price is $227.55 and its 200 day moving average price is $228.72.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 EPS for the quarter, topping the consensus estimate of $1.63 by $1.15. The company had revenue of $181.52 billion for the quarter, compared to analyst estimates of $177.28 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The firm's revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.59 earnings per share. As a group, sell-side analysts predict that Amazon.com, Inc. will post 7.72 earnings per share for the current fiscal year.

Amazon.com Profile

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.

Want to see what other hedge funds are holding AMZN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amazon.com, Inc. (NASDAQ:AMZN - Free Report).

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.