Amazon.com, Inc. $AMZN Shares Acquired by Auto Owners Insurance Co

Key Points

• Auto Owners Insurance Co massively increased its Amazon stake in the fourth quarter, adding over 98 million shares and making AMZN its 22nd-largest holding. The position was valued at about $2.27 billion in the latest filing.
• Amazon reported strong quarterly results, with earnings of $2.78 per share beating estimates and revenue of $181.52 billion topping expectations. Revenue rose 16.6% year over year, while analysts now expect full-year EPS of 7.71.
• Despite the upbeat fundamentals, Amazon shares were down 4.7% and insiders have been selling stock, including VP Shelley Reynolds and CEO Douglas J. Herrington. Analysts remain mostly bullish, with a consensus Moderate Buy rating and a target price of $312.78.

Auto Owners Insurance Co lifted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 27,376.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,448,885 shares of the e-commerce giant's stock after purchasing an additional 98,090,585 shares during the period. Amazon.com makes up about 0.5% of Auto Owners Insurance Co's holdings, making the stock its 22nd biggest position. Auto Owners Insurance Co owned 0.92% of Amazon.com worth $2,272,397,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. MilWealth Group LLC lifted its position in shares of Amazon.com by 79.0% in the 4th quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant's stock valued at $41,000 after acquiring an additional 79 shares in the last quarter. Lifetime Wealth Management P.C. acquired a new stake in Amazon.com during the 4th quarter valued at $45,000. Elkhorn Partners Limited Partnership raised its stake in Amazon.com by 900.0% during the 4th quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant's stock valued at $46,000 after purchasing an additional 180 shares during the period. Fairway Wealth LLC lifted its holdings in shares of Amazon.com by 95.6% in the fourth quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant's stock valued at $51,000 after purchasing an additional 108 shares in the last quarter. Finally, Bridge Generations Wealth Management LLC lifted its holdings in shares of Amazon.com by 2,330.0% in the third quarter. Bridge Generations Wealth Management LLC now owns 243 shares of the e-commerce giant's stock valued at $53,000 after purchasing an additional 233 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Amazon.com

In other Amazon.com news, VP Shelley Reynolds sold 2,363 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $262.38, for a total transaction of $620,003.94. Following the transaction, the vice president directly owned 119,780 shares of the company's stock, valued at $31,427,876.40. This represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 1,000 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $266.19, for a total value of $266,190.00. Following the transaction, the chief executive officer owned 485,527 shares in the company, valued at approximately $129,242,432.13. This trade represents a 0.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 195,774 shares of company stock valued at $51,614,434 in the last three months. 8.90% of the stock is currently owned by company insiders.

Amazon.com Trading Down 4.7%

Shares of NASDAQ AMZN opened at $232.79 on Tuesday. The stock has a market cap of $2.50 trillion, a price-to-earnings ratio of 27.85, a PEG ratio of 1.83 and a beta of 1.45. The business has a 50 day simple moving average of $256.49 and a 200 day simple moving average of $234.11. Amazon.com, Inc. has a 52 week low of $196.00 and a 52 week high of $278.56. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.18.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share for the quarter, beating the consensus estimate of $1.63 by $1.15. The firm had revenue of $181.52 billion for the quarter, compared to analyst estimates of $177.28 billion. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The company's revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.59 earnings per share. On average, research analysts predict that Amazon.com, Inc. will post 7.71 earnings per share for the current fiscal year.

Key Amazon.com News

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

• Positive Sentiment: Prime Day is about to begin, and analysts expect record online spending, which could give Amazon a short-term sales boost and improve sentiment around retail demand. Reuters: Amazon Prime Day to gauge US consumer strain as focus shifts to basics
• Positive Sentiment: Amazon is expanding its AI strategy with new shopping tools, Alexa+ testing in India, and continued AWS adoption, reinforcing the bull case that AI and cloud growth can drive future earnings. TechCrunch: Amazon is testing Alexa+ in India with Hindi support
• Positive Sentiment: Appaloosa’s latest filing showed David Tepper nearly doubled Amazon holdings, a sentiment signal that some large investors still see upside in AMZN. 247WallSt: David Tepper Trimmed Nvidia and AMD, but Doubled Down on This AI Stock
• Neutral Sentiment: Several articles argued Amazon remains a high-quality long-term stock and may be undervalued after its recent pullback, but these are mostly opinion pieces rather than fresh company-specific catalysts. Yahoo Finance: Amazon (AMZN): The Best High Quality Stock to Buy for the Long Term
• Neutral Sentiment: Amazon MGM Studios backed away from a Sam Altman/OpenAI film, which looks more like a content-strategy decision than a meaningful stock driver. GeekWire: Amazon MGM Studios drops film about Sam Altman months after tech giant's OpenAI deal
• Negative Sentiment: Investors are still worried about heavy AI infrastructure spending across hyperscalers, and AMZN has been trading with that group as the market questions near-term returns on capex. 247WallSt: Alphabet Sinks 6%, Amazon Slides 4% Amid AI CapEx Anxiety Across the Hyperscalers
• Negative Sentiment: One concern heading into Prime Day is that nearly everyone who wants Prime already has it, limiting membership-growth upside from the event. Business Insider: Amazon's Prime Day has a problem: Almost everyone has Prime already

Analyst Ratings Changes

A number of research analysts have recently weighed in on AMZN shares. Oppenheimer lifted their price target on Amazon.com from $275.00 to $320.00 and gave the company an "outperform" rating in a report on Thursday, April 30th. The Goldman Sachs Group restated 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. Canaccord Genuity Group lifted their target price on Amazon.com from $300.00 to $330.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Needham & Company LLC upped their target price on Amazon.com from $265.00 to $300.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Finally, Benchmark increased their price target on shares of Amazon.com from $275.00 to $370.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Fifty-seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Amazon.com has a consensus rating of "Moderate Buy" and a consensus target price of $312.78.

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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