Amazon.com, Inc. $AMZN Shares Sold by Prestige Wealth Management Group LLC

Key Points

• Prestige Wealth Management Group reduced its Amazon stake by 12.6% in the first quarter, selling 2,492 shares and retaining 17,256 shares valued at approximately $3.6 million. Institutional investors and hedge funds collectively own 72.2% of Amazon.
• Amazon reported a strong quarter, with revenue rising 19.6% year over year to $200.6 billion and earnings of $5.75 per share, well above estimates. AWS growth, AI infrastructure demand, and favorable analyst ratings remain key bullish catalysts.
• Despite the positive outlook, investors face risks from planned insider share sales, including Jeff Bezos’ proposed $4.1 billion sale, as well as legal challenges and concerns over the returns and cash-flow impact of Amazon’s heavy AI-related spending.

Prestige Wealth Management Group LLC decreased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 12.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,256 shares of the e-commerce giant's stock after selling 2,492 shares during the period. Prestige Wealth Management Group LLC's holdings in Amazon.com were worth $3,594,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. MilWealth Group LLC boosted its stake in Amazon.com by 79.0% during the fourth quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant's stock valued at $41,000 after buying an additional 79 shares in the last quarter. Lifetime Wealth Management P.C. acquired a new position in Amazon.com during the fourth quarter worth about $45,000. Elkhorn Partners Limited Partnership raised its position in Amazon.com by 900.0% in the fourth quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant's stock worth $46,000 after acquiring an additional 180 shares in the last quarter. Fairway Wealth LLC raised its position in Amazon.com by 95.6% in the fourth quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant's stock worth $51,000 after acquiring an additional 108 shares in the last quarter. Finally, Prudent Man Investment Management Inc. lifted its holdings in Amazon.com by 87.7% in the 4th quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant's stock valued at $53,000 after acquiring an additional 107 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com News Roundup

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

• Positive Sentiment: AWS and AI remain the primary bullish catalysts. Coverage highlights accelerating AWS growth, strong demand for AI infrastructure, and management’s view that much of AWS capacity is committed through 2028. Investors are increasingly seeing Amazon’s AI spending translate into cloud revenue and profits. Amazon’s AI Story Is Bigger Than You Think
• Positive Sentiment: Analyst sentiment remains favorable. Amazon was included in Zacks’ Strong Buy and momentum lists, while reports cited analyst upgrades and price targets above the current trading range. The bullish case is supported by second-quarter revenue of $200.6 billion, 19.6% year-over-year growth, and a significant earnings beat. Wall Street’s Bullish Views on Amazon
• Positive Sentiment: Zoox is moving toward commercialization. Amazon’s self-driving unit received approval for driverless vehicles and plans to begin paid robotaxi rides in Las Vegas on August 10. The launch provides a potential long-term growth option beyond retail, cloud, and advertising. Amazon’s Zoox to Start Paid Robotaxi Rides
• Neutral Sentiment: Amazon’s Anthropic investment boosted reported results. Second-quarter net income included approximately $53.4 billion in largely non-operating gains tied to Anthropic investments. The gain validates the strategic value of Amazon’s AI holdings, but it is not recurring operating profit and may make underlying earnings comparisons less clear. Amazon’s Anthropic-Related Gain
• Negative Sentiment: Jeff Bezos’ planned sale is weighing on sentiment. The founder disclosed plans to sell 15 million shares worth roughly $4.1 billion under a pre-arranged trading plan. Amazon executive Douglas Herrington also sold 1,000 shares, adding to supply concerns after the stock reached record levels. Jeff Bezos Amazon Share Sale
• Negative Sentiment: Legal and spending risks remain. An appeals court allowed Perplexity’s AI shopping agents to access Amazon’s platform, while New Jersey sued Amazon over alleged anticompetitive treatment of delivery contractors. Separately, the company’s large AI data-center commitments and capital-spending plans raise concerns about returns and free cash flow.

Analyst Ratings Changes

Several equities analysts have recently issued reports on AMZN shares. HSBC reaffirmed a "buy" rating and issued a $310.00 price objective on shares of Amazon.com in a research note on Friday, July 31st. Guggenheim reissued a "buy" rating and set a $320.00 target price (up from $300.00) on shares of Amazon.com in a research note on Thursday, April 30th. China Renaissance lifted their price target on shares of Amazon.com from $300.00 to $326.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Oppenheimer reaffirmed an "outperform" rating on shares of Amazon.com in a report on Friday, July 31st. Finally, Wolfe Research reissued an "outperform" rating and set a $315.00 price objective on shares of Amazon.com in a research note on Friday, July 31st. Fifty-six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $322.56.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Matthew S. Garman sold 15,467 shares of Amazon.com stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $263.40, for a total transaction of $4,074,007.80. Following the transaction, the chief executive officer owned 14,159 shares of the company's stock, valued at $3,729,480.60. The trade was a 52.21% decrease in their position. The transaction was disclosed in a legal filing 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 company's stock in a transaction dated 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 $581,042,879.72. This represents a 0.90% 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. Insiders have sold a total of 77,867 shares of company stock valued at $20,532,092 in the last ninety days. Company insiders own 8.90% of the company's stock.

Amazon.com Stock Down 1.7%

Shares of NASDAQ:AMZN opened at $272.65 on Thursday. The firm has a 50 day simple moving average of $246.31 and a 200 day simple moving average of $236.97. Amazon.com, Inc. has a 52 week low of $196.00 and a 52 week high of $287.20. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.87 and a current ratio of 1.03. The company has a market cap of $2.94 trillion, a PE ratio of 21.93, a price-to-earnings-growth ratio of 1.85 and a beta of 1.45.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The e-commerce giant reported $5.75 earnings per share for the quarter, topping the consensus estimate of $1.82 by $3.93. Amazon.com had a net margin of 17.44% and a return on equity of 18.00%. The firm had revenue of $200.61 billion for the quarter, compared to analysts' expectations of $197.03 billion. During the same period in the previous year, the company posted $1.68 EPS. The company's quarterly revenue was up 19.6% compared to the same quarter last year. As a group, research analysts expect that Amazon.com, Inc. will post 8.05 earnings per share for the current year.

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.

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