Amazon.com, Inc. $AMZN Shares Sold by Ledyard National Bank

Key Points

• Ledyard National Bank cut its Amazon stake by 5.1% in the third quarter, selling 3,819 shares; it ended the period with 70,711 shares valued at $17.6 million.
• Amazon’s latest quarter narrowly missed analyst estimates, reporting EPS of $1.89 versus $1.97 expected and revenue of $201.94 billion versus $202.22 billion expected, although revenue grew 12.1% year over year.
• Analyst sentiment remains broadly positive: Amazon has a consensus “Moderate Buy” rating and an average price target of $321.74, while investors are watching AWS and advertising growth alongside concerns about AI infrastructure spending.

Ledyard National Bank cut its position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 5.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,711 shares of the e-commerce giant's stock after selling 3,819 shares during the period. Amazon.com accounts for 1.4% of Ledyard National Bank's investment portfolio, making the stock its 20th largest holding. Ledyard National Bank's holdings in Amazon.com were worth $17,618,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMZN. Bank of America Corp DE acquired a new stake in shares of Amazon.com during the second quarter worth about $22,218,775,000. Bank of New York Mellon Corp purchased a new stake in shares of Amazon.com during the 2nd quarter worth $16,341,405,000. Legal & General Group Plc acquired a new position in Amazon.com during the second quarter worth about $12,831,376,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Amazon.com in the 2nd quarter valued at approximately $6,631,466,000. Finally, Jupiter Topco LLC acquired a new position in shares of Amazon.com during the 2nd quarter worth $5,910,083,000. Institutional investors and hedge funds own 72.20% of the company's stock.

Key Amazon.com News

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

• Positive Sentiment: AWS growth could be a major long-term catalyst. CEO Andy Jassy sees AWS potentially becoming a $1 trillion business over the next decade, with strong AI demand supporting rapid growth. That outlook may help reassure investors that Amazon’s large infrastructure investments can generate substantial future revenue. Article: Amazon's CEO Andy Jassy Just Announced Huge News for Amazon Investors
• Positive Sentiment: Advertising remains another growth engine. Amazon’s ad revenue grew 12% in the latest quarter, and management expects high-teens growth next, offering a potential boost beyond retail and cloud. Article: Not Alphabet. Not Meta. This Is the Digital Advertising Stock I'd Buy Right Now
• Neutral Sentiment: Amazon is testing text-based shopping with Alexa for selected U.S. customers. The AI assistant can help find products, build carts and complete purchases; the feature could improve shopping convenience, though its impact on sales is not yet clear. Article: Amazon rolls out text-based shopping through Alexa
• Negative Sentiment: Spending and cash-flow concerns remain a near-term overhang. Despite record operating margins, investors are scrutinizing the cash required for Amazon’s AI and data-center buildout. Its latest quarterly EPS and revenue also came in slightly below consensus estimates. Article: Amazon Just Delivered a Record-Breaking Quarter. But There’s One Number Investors Shouldn’t Ignore
• Negative Sentiment: Potential data-center rules could raise costs. Midterm election results have increased attention on restrictions that could require Amazon and other tech companies to pay more of the power and grid costs associated with their data centers, potentially complicating expansion plans. Article: Microsoft and Google Face a New Bill as Data Centers Have to Pay Their Own Costs

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on AMZN shares. Freedom Broker raised their price target on Amazon.com from $255.00 to $330.00 and gave the stock a "buy" rating in a research report on Tuesday. Yorkville Ives started coverage on shares of Amazon.com in a research report on Monday, October 19th. They set an "outperform" rating and a $300.00 target price on the stock. Raymond James Financial reiterated an "outperform" rating and issued a $250.00 price target on shares of Amazon.com in a report on Friday, October 30th. Wells Fargo & Company decreased their price objective on Amazon.com from $329.00 to $326.00 and set an "overweight" rating on the stock in a report on Friday, October 30th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $300.00 price objective on shares of Amazon.com in a research report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, fifty-five have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Amazon.com presently has a consensus rating of "Moderate Buy" and a consensus price target of $321.74.

Insider Transactions at Amazon.com

In other news, CEO Douglas J. Herrington sold 6,362 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer directly owned 476,681 shares in the company, valued at $123,465,145.81. This trade represents a 1.32% decrease in their position. 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, CEO Andrew R. Jassy sold 20,000 shares of the firm's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $259.01, for a total value of $5,180,200.00. Following the completion of the transaction, the chief executive officer owned 2,235,766 shares in the company, valued at approximately $579,085,751.66. This trade represents a 0.89% 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 have sold 71,589 shares of company stock valued at $18,545,595 in the last ninety days. Company insiders own 8.90% of the company's stock.

Amazon.com Trading Down 0.3%

Shares of AMZN traded down $0.91 during mid-day trading on Friday, reaching $259.30. The company had a trading volume of 42,467,151 shares, compared to its average volume of 42,636,872. The stock has a market cap of $2.80 trillion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 1.86 and a beta of 1.49. The firm has a fifty day simple moving average of $253.96 and a 200-day simple moving average of $243.57. Amazon.com, Inc. has a fifty-two week low of $196.00 and a fifty-two week high of $287.20. The company has a current ratio of 0.99, a quick ratio of 0.82 and a debt-to-equity ratio of 0.28.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The e-commerce giant reported $1.89 EPS for the quarter, missing analysts' consensus estimates of $1.97 by ($0.08). The firm had revenue of $201.94 billion for the quarter, compared to analyst estimates of $202.22 billion. Amazon.com had a return on equity of 15.72% and a net margin of 16.90%. The company's quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.95 earnings per share. On average, sell-side analysts anticipate that Amazon.com, Inc. will post 7.80 EPS for the current fiscal year.

Amazon.com Company Profile

Amazon.com, Inc is a technology and e-commerce company founded by Jeff Bezos in 1994 as an online bookstore. It has since grown into a global business serving consumers, sellers, developers, enterprises and content creators.

Amazon operates online stores and marketplaces, where it sells products directly and enables third-party sellers to reach customers. Its other businesses include Amazon Web Services, which provides cloud computing and related services; digital advertising; Prime memberships; and entertainment offerings such as streaming video and music.

Want to see what other hedge funds are holding AMZN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amazon.com, Inc. (NASDAQ:AMZN - Free Report).

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.