Amazon.com, Inc. $AMZN Stock: Asset Management One Co. Ltd. Trims Stake

Key Points

• Asset Management One Co. trimmed its Amazon stake by 0.7%, selling 34,327 shares in the third quarter; it still held about 4.63 million shares valued at $1.15 billion.
• Analysts gave Amazon a “Moderate Buy” consensus rating, with an average price target of $321.74. Recent targets ranged from $275 to $360.
• Amazon’s latest quarter came in slightly below expectations: EPS was $1.89 versus a $1.97 consensus estimate, and revenue was $201.94 billion versus forecasts of $202.22 billion, though revenue grew 12.1% year over year.

Asset Management One Co. Ltd. reduced its position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,626,692 shares of the e-commerce giant's stock after selling 34,327 shares during the quarter. Amazon.com comprises approximately 2.9% of Asset Management One Co. Ltd.'s investment portfolio, making the stock its 5th biggest holding. Asset Management One Co. Ltd.'s holdings in Amazon.com were worth $1,152,740,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in AMZN. State Street Corp raised its stake in Amazon.com by 5.5% in the 2nd quarter. State Street Corp now owns 411,848,346 shares of the e-commerce giant's stock worth $95,504,904,000 after acquiring an additional 21,398,025 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of Amazon.com in the second quarter valued at about $22,218,775,000. Bank of New York Mellon Corp acquired a new position in shares of Amazon.com in the second quarter valued at about $16,341,405,000. Amundi raised its stake in shares of Amazon.com by 3.9% in the second quarter. Amundi now owns 63,822,242 shares of the e-commerce giant's stock worth $15,211,393,000 after purchasing an additional 2,421,739 shares during the last quarter. Finally, Legal & General Group Plc purchased a new position in shares of Amazon.com in the second quarter worth about $12,831,376,000. Institutional investors and hedge funds own 72.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AMZN shares. Citizens Jmp decreased their target price on Amazon.com from $315.00 to $275.00 and set a "market outperform" rating for the company in a report on Friday, October 30th. Piper Sandler reaffirmed an "overweight" rating on shares of Amazon.com in a report on Friday, October 30th. Rosenblatt Securities reaffirmed a "buy" rating and set a $360.00 price objective on shares of Amazon.com in a research note on Friday, October 30th. Guggenheim reiterated a "buy" rating and issued a $320.00 price objective on shares of Amazon.com in a report on Friday, October 30th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Amazon.com in a research note on Friday, October 30th. Two investment 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's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $321.74.

Amazon.com Stock Down 0.3%

AMZN opened at $266.66 on Friday. Amazon.com, Inc. has a one year low of $196.00 and a one year high of $287.20. The business's 50-day simple moving average is $254.82 and its 200-day simple moving average is $244.32. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.82 and a current ratio of 0.99. The stock has a market capitalization of $2.88 trillion, a P/E ratio of 21.56, a price-to-earnings-growth 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 the consensus estimate of $1.97 by ($0.08). Amazon.com had a net margin of 16.90% and a return on equity of 15.72%. The firm had revenue of $201.94 billion during the quarter, compared to analysts' expectations of $202.22 billion. During the same period in the previous year, the firm earned $1.95 EPS. The firm's revenue was up 12.1% on a year-over-year basis. Analysts anticipate that Amazon.com, Inc. will post 7.80 EPS for the current year.

Recent Amazon.com Headlines

Investors following AMZN have been watching these headlines:

• Neutral Sentiment: Amazon updated Alexa’s shopping capabilities, but the report noted the stock weakened despite the changes, suggesting investors may want evidence of meaningful adoption or revenue impact. 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
• Negative Sentiment: United Airlines’ CEO reportedly criticized Amazon Leo as a mistake while praising Starlink’s competitive position, highlighting execution and competition risks for Amazon’s satellite initiative. Benzinga article

Insider Buying and Selling

In other news, CEO Douglas J. Herrington sold 6,362 shares of the business'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 value of $1,647,821.62. Following the completion of the transaction, the chief executive officer owned 476,681 shares of the company's stock, valued at $123,465,145.81. The trade was a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 on Friday, August 21st. The stock was sold at an average price of $259.06, for a total value of $3,766,991.46. Following the sale, the chief executive officer owned 17,794 shares in the company, valued at $4,609,713.64. This trade 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. Insiders sold 71,589 shares of company stock worth $18,545,595 in the last 90 days. 8.90% of the stock is currently owned by corporate insiders.

Amazon.com 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.

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