Amazon.com, Inc. $AMZN Stock: Busey Bank Cuts Holdings

Key Points

• Busey Bank reduced its Amazon stake by 1.4% in the third quarter, selling 8,185 shares. It retained 579,451 shares worth about $144.4 million, making Amazon its fifth-largest holding.
• Amazon’s latest quarter fell short of analyst expectations: EPS was $1.89 versus a $1.97 consensus, and revenue was $201.94 billion versus $202.22 billion expected, despite 12.1% year-over-year revenue growth.
• Analyst sentiment remained broadly positive, with a consensus “Moderate Buy” rating and an average price target of $321.74; company insiders also sold 71,589 shares worth about $18.5 million in the last quarter.

Busey Bank decreased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 1.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 579,451 shares of the e-commerce giant's stock after selling 8,185 shares during the quarter. Amazon.com comprises approximately 3.5% of Busey Bank's investment portfolio, making the stock its 5th biggest holding. Busey Bank's holdings in Amazon.com were worth $144,370,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of AMZN. TOP Private Wealth LLC. bought a new stake in shares of Amazon.com in the 2nd quarter valued at $29,000. Bard Associates Inc. bought a new position in Amazon.com during the second quarter worth about $32,000. Longfellow Investment Management Co. LLC bought a new position in Amazon.com during the second quarter worth about $33,000. Atomic Invest LLC lifted its holdings in Amazon.com by 41.2% during the second quarter. Atomic Invest LLC now owns 168 shares of the e-commerce giant's stock worth $40,000 after acquiring an additional 49 shares in the last quarter. Finally, Strategic Wealth Advisors LLC acquired a new position in Amazon.com in the second quarter valued at about $68,000. Institutional investors and hedge funds own 72.20% of the company's stock.

Top Amazon.com Stories

Here are a few of the latest stories about AMZN:

• Positive Sentiment: Amazon’s planned World Product Graph would catalog products available across the internet, including items Amazon doesn’t stock. If it makes Amazon a starting point for more shopping searches, it could strengthen product discovery and attract advertising revenue. Reuters article
• 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: 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

Insider Activity at Amazon.com

In related news, CFO Brian Olsavsky sold 6,172 shares of the business's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $260.31, for a total value of $1,606,633.32. Following the sale, the chief financial officer owned 109,207 shares of the company's stock, valued at $28,427,674.17. The trade was a 5.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 dated 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 sale, the senior vice president directly owned 41,190 shares of the company's stock, valued at approximately $10,699,926.30. The trade was 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 quarter. Insiders own 8.90% of the company's stock.

Amazon.com Stock Performance

Amazon.com stock opened at $266.66 on Friday. The business's 50-day moving average price is $254.82 and its two-hundred day moving average price is $244.32. The stock has a market cap of $2.88 trillion, a PE ratio of 21.56, a P/E/G ratio of 2.03 and a beta of 1.49. Amazon.com, Inc. has a 12-month low of $196.00 and a 12-month high of $287.20. The company has a quick ratio of 0.82, a current ratio of 0.99 and a debt-to-equity ratio of 0.28.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The e-commerce giant reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.97 by ($0.08). The company 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 firm's quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the company posted $1.95 earnings per share. As a group, analysts expect that Amazon.com, Inc. will post 7.80 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on AMZN shares. Sanford C. Bernstein restated an "outperform" rating and issued a $320.00 price target (up from $315.00) on shares of Amazon.com in a report on Friday, July 31st. Pivotal Research reiterated a "buy" rating and set a $333.00 price objective (up from $320.00) on shares of Amazon.com in a report on Friday, July 31st. Bank of America reiterated a "buy" rating and issued a $317.00 price objective on shares of Amazon.com in a research report on Friday, October 30th. Truist Financial set a $390.00 price objective on Amazon.com in a research report on Friday, October 30th. Finally, Monness Crespi & Hardt increased their target price on Amazon.com from $315.00 to $330.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, fifty-five have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $321.74.

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.

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.