Amazon.com, Inc. $AMZN Position Lessened by AMI Asset Management Corp

Key Points

• AMI Asset Management Corp cut its Amazon stake by 2.9% in the first quarter, selling 10,051 shares and leaving it with 338,247 shares valued at about $70.4 million.
• Despite that trim, Amazon remains widely held by institutions, with 72.20% of shares owned by hedge funds and other institutional investors; several large firms, including Vanguard and State Street, also added to their positions.
• Wall Street sentiment remains mostly upbeat, with analysts citing Amazon’s AWS cloud growth and AI expansion as positives, though concerns are rising around heavy AI spending, debt issuance, and insider selling.

AMI Asset Management Corp trimmed its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 2.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 338,247 shares of the e-commerce giant's stock after selling 10,051 shares during the period. Amazon.com accounts for 4.5% of AMI Asset Management Corp's portfolio, making the stock its 6th largest position. AMI Asset Management Corp's holdings in Amazon.com were worth $70,447,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Amazon.com by 1.1% during the first quarter. Vanguard Group Inc. now owns 832,274,556 shares of the e-commerce giant's stock valued at $158,348,557,000 after buying an additional 8,913,959 shares during the last quarter. State Street Corp boosted its holdings in shares of Amazon.com by 1.8% in the 4th quarter. State Street Corp now owns 388,653,121 shares of the e-commerce giant's stock valued at $89,708,913,000 after buying an additional 6,971,680 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Amazon.com by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 225,120,994 shares of the e-commerce giant's stock worth $51,753,622,000 after buying an additional 2,479,324 shares during the last quarter. Norges Bank purchased a new position in shares of Amazon.com in the 4th quarter worth approximately $32,868,735,000. Finally, Auto Owners Insurance Co raised its stake in shares of Amazon.com by 27,376.7% during the 4th quarter. Auto Owners Insurance Co now owns 98,448,885 shares of the e-commerce giant's stock worth $2,272,397,000 after acquiring an additional 98,090,585 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

More Amazon.com News

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

• Positive Sentiment: Needham reiterated a Buy rating and $300 price target on Amazon, signaling continued optimism ahead of earnings. Wall Street analyst updates Amazon stock price target
• Positive Sentiment: TD Cowen said Amazon’s accelerating AWS cloud business should help deliver strong second-quarter results, reinforcing the core growth story. Amazon's accelerating cloud business to deliver strong Q2—TD Cowen
• Positive Sentiment: Amazon is expanding its AI and infrastructure footprint, including reports that it has enough satellites in orbit to begin rolling out Amazon Leo broadband and is deepening AWS security offerings in Europe. Amazon.com (AMZN) A Top AI Stock on Wall Street Radar Pursuing Broadband Service Opportunities
• Neutral Sentiment: Amazon’s exposure to Anthropic and broader AI infrastructure spending continues to be viewed as a long-term growth lever, but it also highlights how much the stock is being tied to the success of the AI boom. Want Anthropic Exposure Before the IPO? These 2 AI Giants Are Already There
• Negative Sentiment: The new bond sale and broader AI capex push are raising concerns about leverage, future borrowing costs, and the timeline for returns, especially as some investors question whether the AI spend is becoming excessive. Amazon’s $25 billion ‘surprise’ bond sale dangled extra yield...
• Negative Sentiment: Reports of insider selling and a cooler tone in tech sentiment are adding to the pressure on the shares near term. Amazon (AMZN) Stock Rises as It Taps Debt Market for $25 Billion AI Push

Analysts Set New Price Targets

A number of equities research analysts recently commented on AMZN shares. Moffett Nathanson increased their target price on shares of Amazon.com from $283.00 to $288.00 and gave the company a "buy" rating in a research report on Tuesday, April 7th. Citigroup reaffirmed a "market outperform" rating on shares of Amazon.com in a research report on Monday, June 1st. DA Davidson increased their price objective on Amazon.com from $175.00 to $250.00 and gave the company a "neutral" rating in a report on Thursday, April 30th. TD Cowen reissued a "buy" rating and issued a $340.00 price objective (down from $350.00) on shares of Amazon.com in a research report on Wednesday. Finally, Roth Capital boosted their target price on 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 research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $312.62.

Amazon.com Trading Down 1.0%

NASDAQ AMZN opened at $243.62 on Thursday. Amazon.com, Inc. has a 12-month low of $196.00 and a 12-month high of $278.56. The company has a fifty day simple moving average of $253.64 and a two-hundred day simple moving average of $235.10. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. The stock has a market cap of $2.62 trillion, a P/E ratio of 29.14, a P/E/G ratio of 1.83 and a beta of 1.46.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share 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 for the quarter, compared to analyst estimates of $177.28 billion. During the same period in the previous year, the company earned $1.59 earnings per share. The business's quarterly revenue was up 16.6% compared to the same quarter last year. On average, analysts forecast that Amazon.com, Inc. will post 7.75 earnings per share for the current year.

Insider Activity at Amazon.com

In related news, CEO Matthew S. Garman sold 15,467 shares of Amazon.com stock in a transaction dated Thursday, May 21st. The stock was 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 owned 14,159 shares of the company's stock, valued at $3,729,480.60. The trade was a 52.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Shelley Reynolds sold 2,363 shares of the company's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $262.38, for a total value of $620,003.94. Following the completion of the sale, the vice president owned 119,780 shares in the company, valued at approximately $31,427,876.40. This represents a 1.93% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 195,774 shares of company stock worth $51,643,704 in the last quarter. 8.90% of the stock is owned by insiders.

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.

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