Amazon.com, Inc. $AMZN Shares Sold by Summitry LLC

Key Points

• Summitry LLC reduced its Amazon stake by 4% in the second quarter, selling 24,840 shares and retaining 593,631 shares valued at approximately $141.5 million. Institutional investors collectively own 72.2% of Amazon’s stock.
• Amazon reported strong quarterly results, with revenue up 19.6% year over year to $200.61 billion and EPS of $5.75 versus the $1.82 consensus estimate. Analysts maintain a broadly bullish outlook, with a “Moderate Buy” consensus and an average price target of $323.09.
• AI and AWS remain major growth drivers, supported by Amazon’s planned purchase of roughly 2 million additional Nvidia GPUs and strong AWS growth, though investors remain concerned about the returns on heavy AI spending and ongoing California price-fixing litigation.

Summitry LLC cut its position in Amazon.com, Inc. (NASDAQ:AMZN) by 4.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 593,631 shares of the e-commerce giant's stock after selling 24,840 shares during the quarter. Amazon.com comprises about 4.7% of Summitry LLC's portfolio, making the stock its 4th biggest holding. Summitry LLC's holdings in Amazon.com were worth $141,486,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AMZN. Norges Bank bought a new position in Amazon.com during the fourth quarter worth about $32,868,735,000. Auto Owners Insurance Co raised its stake in 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 worth $2,272,397,000 after purchasing an additional 98,090,585 shares in the last quarter. J. Stern & Co. LLP boosted its holdings in 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 purchasing an additional 87,557,736 shares during the period. Nuveen LLC acquired a new position in shares of Amazon.com during the 1st quarter worth approximately $11,674,091,000. Finally, Cardano Risk Management B.V. grew its position in shares of 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 purchasing an additional 25,017,588 shares in the last quarter. Institutional investors own 72.20% of the company's stock.

Insider Buying and Selling at Amazon.com

In related news, SVP David Zapolsky sold 9,258 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $259.77, for a total value of $2,404,950.66. Following the completion of the transaction, the senior vice president owned 41,190 shares of the company's stock, valued at $10,699,926.30. This represents a 18.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 6,362 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $259.01, for a total transaction of $1,647,821.62. Following the completion of the sale, the chief executive officer owned 476,681 shares in the company, valued at $123,465,145.81. This represents a 1.32% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 71,589 shares of company stock worth $18,580,205 over the last 90 days. 8.90% of the stock is owned by corporate insiders.

Key Stories Impacting Amazon.com

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

• Positive Sentiment: Evercore raises target on agentic AI potential. Evercore ISI lifted its AMZN price target to $355 from $315.16 and maintained an Outperform rating. The firm believes agentic AI could improve retail growth and strengthen trends across Amazon Web Services (AWS), advertising and e-commerce. Why is Amazon stock surging 4% today
• Positive Sentiment: Expanded Nvidia partnership reinforces AI demand. Amazon plans to add 2 million Nvidia GPUs to its data centers in 2027–2028, bringing its announced commitment to roughly 3 million chips. The spending signals strong expected demand for AWS AI capacity and helped distinguish Amazon positively within the AI infrastructure sector. Amazon just tripled its order of Nvidia chips over surging demand
• Positive Sentiment: AWS and AI economics remain major growth catalysts. Reports cited approximately 37% AWS revenue growth to $42.2 billion in the second quarter, while Amazon’s AI and chip businesses each reached annualized revenue run rates above $25 billion. Analysts also highlighted solid retail profitability and long-term cloud adoption. Amazon Stock: AI Investment Gains Momentum as AWS Revenue Surges
• Positive Sentiment: New distribution and energy initiatives support the platform. Amazon plans to expand Prime Air drone delivery to nearly 500 U.S. cities by year-end, while new power-purchase agreements add 600 megawatts of carbon-free electricity and support data-center expansion. Amazon is about to six times its drone delivery footprint
• Neutral Sentiment: Amazon-backed Zoox is launching robotaxi service in San Francisco, creating a potential long-term growth option but adding an unproven business with significant execution requirements. Amazon-backed Zoox launches robotaxis in San Francisco
• Negative Sentiment: AI spending is raising return-on-investment concerns. The enlarged GPU commitment adds to an already substantial capital budget, prompting investors to question whether AWS demand and AI monetization will justify the cost. Amazon’s post-earnings gains have also partially faded, and billionaire Bill Ackman reportedly shifted from Amazon to Microsoft.
• Negative Sentiment: California litigation over alleged price-fixing remains an overhang, although a judge indicated the state’s request to block Amazon’s practices would likely be denied. Judge likely to deny California’s bid to stop Amazon’s alleged price fixing

Amazon.com Stock Performance

NASDAQ:AMZN opened at $266.43 on Friday. Amazon.com, Inc. has a twelve month low of $196.00 and a twelve month high of $287.20. The company has a quick ratio of 0.87, a current ratio of 1.03 and a debt-to-equity ratio of 0.23. The stock's 50-day simple moving average is $251.62 and its 200 day simple moving average is $240.45. The firm has a market capitalization of $2.87 trillion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 1.71 and a beta of 1.45.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AMZN shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $320.00 price target (down from $330.00) on shares of Amazon.com in a research report on Friday, July 31st. Citigroup reissued a "market outperform" rating on shares of Amazon.com in a research report on Friday, August 14th. Benchmark raised their price objective on Amazon.com from $370.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Oppenheimer restated an "outperform" rating on shares of Amazon.com in a research note on Friday, July 31st. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and issued a $328.00 price objective (up from $322.00) on shares of Amazon.com in a report on Friday, July 31st. One investment 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 stock. According to data from MarketBeat, Amazon.com has an average rating of "Moderate Buy" and a consensus price target of $323.09.

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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