Amazon.com, Inc. $AMZN Stock Acquired by AMI Investment Management Inc.

Key Points

• AMI Investment Management increased its Amazon stake by 23.6% in the third quarter, adding 4,443 shares to hold 23,294 shares valued at about $5.8 million. Institutional investors own 72.2% of Amazon stock.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $321.74. Amazon’s latest quarterly results slightly missed estimates: EPS was $1.89 versus $1.97 expected, while revenue rose 12.1% year over year.
• Company insiders sold 71,589 shares worth about $18.5 million over the past three months; the reported CEO and SVP sales were made under pre-arranged trading plans.

AMI Investment Management Inc. increased its position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 23.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,294 shares of the e-commerce giant's stock after acquiring an additional 4,443 shares during the period. Amazon.com makes up 1.1% of AMI Investment Management Inc.'s portfolio, making the stock its 22nd biggest position. AMI Investment Management Inc.'s holdings in Amazon.com were worth $5,804,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Sigma Investment Counselors Inc. boosted its holdings in shares of Amazon.com by 14.6% in the third quarter. Sigma Investment Counselors Inc. now owns 79,703 shares of the e-commerce giant's stock valued at $19,858,000 after acquiring an additional 10,124 shares in the last quarter. Armor Investment Advisors LLC increased its stake in shares of Amazon.com by 5.6% during the third quarter. Armor Investment Advisors LLC now owns 2,824 shares of the e-commerce giant's stock valued at $704,000 after acquiring an additional 150 shares during the period. Parametrica Management Ltd acquired a new position in shares of Amazon.com during the third quarter valued at approximately $5,730,000. Victory Financial Group LLC increased its stake in shares of Amazon.com by 22.1% during the third quarter. Victory Financial Group LLC now owns 35,849 shares of the e-commerce giant's stock valued at $8,932,000 after acquiring an additional 6,483 shares during the period. Finally, Guerra Pan Advisors LLC raised its holdings in Amazon.com by 4.4% during the third quarter. Guerra Pan Advisors LLC now owns 10,050 shares of the e-commerce giant's stock worth $2,638,000 after purchasing an additional 420 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Andrew Jassy sold 20,000 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $259.01, for a total transaction of $5,180,200.00. Following the completion of the sale, the chief executive officer owned 2,235,766 shares in the company, valued at approximately $579,085,751.66. This represents a 0.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP David Zapolsky sold 9,258 shares of the stock in a transaction 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 sale, the senior vice president owned 41,190 shares of the company's stock, valued at $10,699,926.30. This trade represents a 18.35% 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 have sold 71,589 shares of company stock valued at $18,545,595 in the last three months. Insiders own 8.90% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AMZN shares. Weiss Ratings restated a "buy (b)" rating on shares of Amazon.com in a research report on Friday, October 30th. HSBC reaffirmed a "buy" rating and set a $310.00 price target on shares of Amazon.com in a research note on Friday, July 31st. The Goldman Sachs Group reiterated a "conviction-buy" rating and set a $370.00 price target on shares of Amazon.com in a research report on Friday, October 30th. Scotiabank lowered their price target on Amazon.com from $325.00 to $300.00 and set a "sector outperform" rating on the stock in a research report on Friday, October 30th. Finally, Yorkville Ives assumed coverage on Amazon.com in a research note on Monday, October 19th. They issued an "outperform" rating and a $300.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, fifty-five have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Amazon.com currently has a consensus rating of "Moderate Buy" and an average target price of $321.74.

Amazon.com Stock Down 0.3%

NASDAQ AMZN opened at $266.66 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.99 and a quick ratio of 0.82. The company's 50 day simple moving average is $254.82 and its 200 day simple moving average is $244.32. Amazon.com, Inc. has a 12 month low of $196.00 and a 12 month high of $287.20. The company has a market capitalization of $2.88 trillion, a P/E ratio of 21.56, a PEG ratio of 2.03 and a beta of 1.49.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its earnings results on Thursday, October 29th. The e-commerce giant reported $1.89 earnings per share for the quarter, missing analysts' consensus estimates of $1.97 by ($0.08). The business had revenue of $201.94 billion for the quarter, compared to the consensus estimate 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 business posted $1.95 earnings per share. Equities research analysts expect that Amazon.com, Inc. will post 7.80 earnings per share for the current fiscal year.

Key Stories Impacting Amazon.com

These are some of the AMZN stories that stood out recently:

• Positive Sentiment: Amazon remains an AI and cloud growth story: a recent investor article cited AWS revenue growth of 39% and projected growth above 40% in 2027 and 2028. Continued cloud momentum may support the investment case. The Motley Fool article
• Neutral Sentiment: A planned launch of 40 Amazon Leo satellites could advance its satellite-internet service, although the launch itself does not establish the service’s eventual commercial returns. TipRanks article
• Negative Sentiment: Amazon’s European unit and managers could face a criminal trial in Italy over alleged unpaid import VAT and customs duties on third-party cross-border sales. A trial could bring legal costs, penalties, or reputational risk; the allegations have not been resolved. Yahoo Finance article

About Amazon.com

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.

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