Amazon.com, Inc. $AMZN Shares Sold by ICONIQ Capital LLC

Key Points

• ICONIQ Capital cut its Amazon stake by 79.3% in the second quarter, selling 199,144 shares and retaining 51,917 shares valued at approximately $12.4 million.
• Amazon insiders sold 71,589 shares worth about $18.6 million over the past 90 days, including sales by CEOs Douglas Herrington and Matthew Garman under pre-arranged Rule 10b5-1 plans.
• Despite the selling activity, analyst sentiment remains positive: Amazon has a consensus “Moderate Buy” rating, an average price target of $321.19, and recently reported quarterly revenue growth of 19.6% year over year.

ICONIQ Capital LLC lessened its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 79.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 51,917 shares of the e-commerce giant's stock after selling 199,144 shares during the quarter. Amazon.com makes up 0.4% of ICONIQ Capital LLC's holdings, making the stock its 18th biggest holding. ICONIQ Capital LLC's holdings in Amazon.com were worth $12,374,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of AMZN. Bard Associates Inc. acquired a new stake in shares of Amazon.com during the second quarter valued at about $32,000. Longfellow Investment Management Co. LLC acquired a new position in shares of Amazon.com in the second quarter valued at approximately $33,000. Lifetime Wealth Management P.C. bought a new position in Amazon.com in the 4th quarter valued at approximately $45,000. Prudent Man Investment Management Inc. boosted its position in Amazon.com by 87.7% during the 4th quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant's stock worth $53,000 after buying an additional 107 shares during the period. Finally, Strategic Wealth Advisors LLC acquired a new stake in Amazon.com during the 2nd quarter worth approximately $68,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Douglas J. Herrington sold 6,362 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $259.01, for a total value of $1,647,821.62. Following the completion of the sale, the chief executive officer directly owned 476,681 shares of the company's stock, valued at $123,465,145.81. This represents a 1.32% decrease in their ownership of the stock. The sale 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, CEO Matthew Garman sold 14,541 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $259.06, for a total value of $3,766,991.46. Following the completion of the transaction, the chief executive officer owned 17,794 shares in the company, valued at $4,609,713.64. This represents a 44.97% decrease in their position. 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. In the last 90 days, insiders have sold 71,589 shares of company stock valued at $18,568,785. 8.90% of the stock is currently owned by insiders.

Amazon.com News Roundup

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

• Positive Sentiment: Adobe expects U.S. consumers to spend approximately $10 billion during Amazon’s October Prime Day, contributing to a projected record $275 billion U.S. holiday shopping season. Higher online spending could support fourth-quarter sales, although aggressive retailer promotions may pressure margins. Amazon Has a $10 Billion Holiday Catalyst Coming in October
• Positive Sentiment: Analysts and investors continue to point to accelerating AWS growth, a large contracted backlog and rising AI-related cloud demand. Commentary that Amazon’s AI capital expenditures are beginning to generate returns supports the long-term bull case for AWS. I'd Buy Amazon Stock While It Sits 12% Below Its Record
• Positive Sentiment: Amazon is expanding its strategic footprint through robotics in India, low-carbon data-center infrastructure and its Leo satellite network. These initiatives could strengthen logistics, cloud infrastructure and future connectivity businesses, though they require substantial investment.
• Neutral Sentiment: Amazon’s comparison with Alibaba highlights that both companies are making major AI and cloud investments. The key differentiator for investors is whether AWS growth and profitability can justify Amazon’s spending pace.
• Negative Sentiment: Cheaper Anthropic Claude models are raising questions about AWS Bedrock pricing. Lower prices could reduce revenue per AI call, even if they stimulate greater usage and overall cloud consumption. Amazon Stock Falls as Cheaper Claude Tests Bedrock Elasticity
• Negative Sentiment: Senate Democrats are seeking information from Amazon and other technology companies about tax subsidies for AI and data-center development, creating potential regulatory and political uncertainty around future incentives. Sen. Warren Questions AI Tax Subsidies
• Negative Sentiment: A U.K. consumer lawsuit alleging that Apple and Amazon restricted competition in Apple-product sales was allowed to proceed in part, adding to Amazon’s legal and antitrust exposure. Apple and Amazon Face Revived UK Consumer Lawsuit

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AMZN shares. Bank of America raised their price target on shares of Amazon.com from $310.00 to $320.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Wedbush increased their price objective on Amazon.com from $293.00 to $310.00 and gave the company an "outperform" rating in a report on Friday, July 31st. Raymond James Financial restated an "outperform" rating and set a $390.00 price objective (up from $280.00) on shares of Amazon.com in a research report on Friday, July 31st. Barclays reiterated an "overweight" rating and issued a $365.00 target price (up from $330.00) on shares of Amazon.com in a report on Friday, July 31st. Finally, Evercore set a $355.00 price objective on shares of Amazon.com and gave the company an "outperform" rating in a research note on Friday, August 28th. Fifty-six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Amazon.com currently has a consensus rating of "Moderate Buy" and an average price target of $321.19.

Amazon.com Price Performance

AMZN stock opened at $246.15 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.03 and a quick ratio of 0.87. The company's 50-day moving average is $256.31 and its 200-day moving average is $247.42. The stock has a market capitalization of $2.66 trillion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 1.93 and a beta of 1.44. 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 announced its quarterly earnings data on Thursday, July 30th. The e-commerce giant reported $5.75 EPS for the quarter, beating analysts' consensus estimates of $1.82 by $3.93. The firm had revenue of $200.61 billion during the quarter, compared to analysts' expectations of $197.03 billion. Amazon.com had a return on equity of 18.00% and a net margin of 17.44%.The company's revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.68 earnings per share. Equities research analysts expect that Amazon.com, Inc. will post 8.01 EPS for the current fiscal year.

Amazon.com Profile

Amazon.com, Inc is a global technology and commerce company that operates online marketplaces, physical stores, and a broad portfolio of digital and cloud-based services. The company offers consumer products across categories such as electronics, household goods, apparel, groceries, and entertainment, while also providing third-party sellers with tools for listing, selling, and fulfilling orders.

Amazon's major businesses include Amazon Web Services (AWS), which provides cloud computing, storage, database, analytics, and artificial intelligence services; Prime, a membership program that includes shipping, streaming, and other benefits; and digital entertainment services such as Prime Video, Amazon Music, Kindle, and Audible.

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