Amazon.com, Inc. $AMZN Shares Sold by ABN AMRO Bank N.V.

Key Points

• ABN AMRO Bank N.V. reduced its Amazon stake by 10.1% in the first quarter, selling 109,422 shares and leaving it with 971,944 shares worth about $202.2 million.
• Amazon reported strong quarterly results, with EPS of $2.78 versus $1.63 expected and revenue of $181.52 billion, up 16.6% year over year.
• Wall Street remains bullish on AMZN, with 57 Buy ratings, only three Holds, and a consensus price target of $312.79, while several analysts recently raised their targets to $315 or higher.

ABN AMRO Bank N.V. cut its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 10.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 971,944 shares of the e-commerce giant's stock after selling 109,422 shares during the period. Amazon.com accounts for 2.2% of ABN AMRO Bank N.V.'s holdings, making the stock its 14th biggest position. ABN AMRO Bank N.V.'s holdings in Amazon.com were worth $202,150,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Amazon.com

In other news, CEO Andrew R. Jassy sold 20,000 shares of the company's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $263.42, for a total value of $5,268,400.00. Following the completion of the transaction, the chief executive officer owned 2,205,766 shares in the company, valued at approximately $581,042,879.72. This represents a 0.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 completion of the transaction, the vice president directly owned 119,780 shares in the company, valued at $31,427,876.40. This trade represents a 1.93% 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. In the last ninety days, insiders have sold 195,774 shares of company stock worth $51,643,704. 8.90% of the stock is owned by insiders.

Amazon.com Stock Performance

NASDAQ AMZN opened at $242.67 on Friday. Amazon.com, Inc. has a 52 week low of $196.00 and a 52 week high of $278.56. The firm has a 50 day moving average of $254.57 and a two-hundred day moving average of $234.57. The company has a quick ratio of 1.01, a current ratio of 1.18 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $2.61 trillion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 1.81 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. The business 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 was up 16.6% on a year-over-year basis. During the same period last year, the business earned $1.59 EPS. As a group, research analysts expect that Amazon.com, Inc. will post 7.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Barclays reaffirmed an "overweight" rating on shares of Amazon.com in a research report on Tuesday, June 9th. Monness Crespi & Hardt lifted their target price on Amazon.com from $280.00 to $315.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Maxim Group boosted their price target on shares of Amazon.com from $290.00 to $315.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Pivotal Research reiterated a "buy" rating and set a $320.00 price target (up from $300.00) on shares of Amazon.com in a research note on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Amazon.com from $290.00 to $315.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Fifty-seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $312.79.

More Amazon.com News

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

• Positive Sentiment: Amazon said its Leo satellite network has enough satellites to begin initial broadband service this year, opening a new growth opportunity in satellite internet. Reuters: Amazon to start initial Leo internet service this year as network nears 400 satellites
• Positive Sentiment: Amazon is expanding its AI strategy with custom device chips and broader AWS AI capabilities, which could support future margins and growth. CNBC: Amazon is designing its own AI chips for Echo, Fire TV and future devices
• Positive Sentiment: Prime Day-related reports pointed to strong online shopping demand, reinforcing confidence in Amazon’s retail momentum heading into earnings. Yahoo Finance/Reuters: Online Spending Rises 5.3% on First Day of Amazon’s Prime Day

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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