Amazon.com, Inc. $AMZN Shares Sold by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System cut its Amazon stake by 2.2% in the first quarter, selling 327,605 shares but retaining 14.56 million shares valued at approximately $3.03 billion. Institutional investors and hedge funds collectively own 72.2% of Amazon.
• Amazon reported a strong quarter, with EPS of $5.75 versus the $1.82 consensus estimate and revenue of $200.61 billion, up 19.6% year over year and ahead of expectations.
• Analyst sentiment remains positive: Amazon has a “Moderate Buy” consensus rating and a $322.56 average price target, while several firms raised targets as high as $375.

California State Teachers Retirement System decreased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 2.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 14,562,158 shares of the e-commerce giant's stock after selling 327,605 shares during the period. Amazon.com makes up 3.2% of California State Teachers Retirement System's holdings, making the stock its 4th largest position. California State Teachers Retirement System owned 0.14% of Amazon.com worth $3,032,861,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Amazon.com in the 4th quarter valued at approximately $32,868,735,000. Auto Owners Insurance Co increased its position in shares of Amazon.com by 27,376.7% in the 4th quarter. Auto Owners Insurance Co now owns 98,448,885 shares of the e-commerce giant's stock valued at $2,272,397,000 after buying an additional 98,090,585 shares in the last quarter. J. Stern & Co. LLP increased its position in shares of Amazon.com by 20,598.0% in the 4th quarter. J. Stern & Co. LLP now owns 87,982,814 shares of the e-commerce giant's stock valued at $20,308,193,000 after buying an additional 87,557,736 shares in the last quarter. Nuveen LLC acquired a new stake in Amazon.com during the 1st quarter worth $11,674,091,000. Finally, Cardano Risk Management B.V. raised its stake in Amazon.com by 879.4% during the 4th quarter. Cardano Risk Management B.V. now owns 27,862,400 shares of the e-commerce giant's stock worth $6,431,199,000 after buying an additional 25,017,588 shares during the period. Institutional investors and hedge funds own 72.20% of the company's stock.

Amazon.com Price Performance

Shares of AMZN opened at $278.09 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 0.87 and a debt-to-equity ratio of 0.23. The company's fifty day simple moving average is $246.69 and its 200 day simple moving average is $237.78. The company has a market cap of $3.00 trillion, a price-to-earnings ratio of 22.37, a PEG ratio of 1.83 and a beta of 1.45. Amazon.com, Inc. has a 1-year low of $196.00 and a 1-year high of $287.20.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its earnings results on Thursday, July 30th. The e-commerce giant reported $5.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $3.93. The business had revenue of $200.61 billion during the quarter, compared to the consensus estimate of $197.03 billion. Amazon.com had a net margin of 17.44% and a return on equity of 18.00%. Amazon.com's revenue was up 19.6% on a year-over-year basis. During the same period last year, the business posted $1.68 EPS. On average, research analysts forecast that Amazon.com, Inc. will post 8.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Robert W. Baird set a $310.00 price target on Amazon.com and gave the stock an "outperform" rating in a report on Friday, July 31st. Mizuho set a $330.00 target price on Amazon.com and gave the stock an "outperform" rating in a research note on Friday, July 31st. Roth Capital restated a "buy" rating and set a $325.00 target price on shares of Amazon.com in a report on Monday, August 3rd. Citigroup reiterated a "buy" rating and issued a $350.00 price target (up from $325.00) on shares of Amazon.com in a report on Friday, July 31st. Finally, The Goldman Sachs Group restated a "buy" rating and set a $375.00 price objective (up from $335.00) on shares of Amazon.com in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, fifty-six have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $322.56.

Insider Activity at Amazon.com

In related news, SVP David Zapolsky sold 9,270 shares of Amazon.com stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $268.53, for a total transaction of $2,489,273.10. Following the completion of the sale, the senior vice president directly owned 41,190 shares of the company's stock, valued at approximately $11,060,750.70. This trade represents a 18.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Shelley Reynolds sold 2,363 shares of the business's stock in a transaction dated 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 sale, the vice president directly owned 119,780 shares of the company's stock, valued at approximately $31,427,876.40. The trade was a 1.93% 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. Insiders have sold a total of 77,867 shares of company stock worth $20,532,092 in the last quarter. 8.90% of the stock is owned by corporate insiders.

Key Headlines Impacting Amazon.com

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

• Positive Sentiment: Amazon’s recent earnings breakout is attracting continued investor interest. Renewed AWS growth and accelerating AI demand could support earnings momentum and a post-earnings drift higher. Amazon: A Post-Earnings Drift Candidate
• Positive Sentiment: Analysts and market commentators point to accelerating cloud revenue as a potential long-term driver that could help Amazon grow beyond its recently achieved $3 trillion market capitalization. Amazon Just Joined the $3 Trillion Club
• Positive Sentiment: A reported institutional and retail “Power Inflow” alert provided a short-term bullish trading signal, helping reinforce buying momentum in AMZN. Amazon Shares Up After Key Trading Signal
• Positive Sentiment: Amazon’s Zoox robotaxi subsidiary began paid rides in Las Vegas after receiving a federal commercial exemption, marking a meaningful commercialization milestone for the company’s autonomous-vehicle investment. Zoox to Begin Paid Rides
• Positive Sentiment: Amazon Pharmacy is offering eligible Medicare patients access to certain weight-loss drugs for $50 per month, potentially expanding customer engagement and the company’s healthcare presence. Amazon Pharmacy Rolls Out Low-Cost Weight-Loss Drugs

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source