Amazon.com, Inc. $AMZN Stock: Evergreen Capital Management LLC Trims Stake

Key Points

• Evergreen Capital Management cut its Amazon stake by 1.4%, selling 4,416 shares in the third quarter; it retained 321,281 shares valued at about $80.0 million.
• Analyst sentiment remains broadly positive: Amazon has a “Moderate Buy” consensus rating and an average price target of $321.74.
• Amazon’s latest quarterly revenue rose 12.1% year over year, but both EPS ($1.89) and revenue ($201.94 billion) fell slightly short of analyst estimates.

Evergreen Capital Management LLC cut its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 1.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 321,281 shares of the e-commerce giant's stock after selling 4,416 shares during the quarter. Amazon.com comprises 1.4% of Evergreen Capital Management LLC's portfolio, making the stock its 14th biggest holding. Evergreen Capital Management LLC's holdings in Amazon.com were worth $80,047,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Bank of America Corp DE bought 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 stake in shares of Amazon.com during the 2nd quarter worth about $16,341,405,000. Legal & General Group Plc bought a new stake in shares of Amazon.com during the 2nd quarter worth about $12,831,376,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Amazon.com during the 2nd quarter worth about $6,631,466,000. Finally, Jupiter Topco LLC bought a new stake in shares of Amazon.com during the 2nd quarter worth about $5,910,083,000. Institutional investors own 72.20% of the company's stock.

Wall Street Analyst Weigh In

AMZN has been the topic of several research analyst reports. Guggenheim reissued a "buy" rating and issued a $320.00 price target on shares of Amazon.com in a report on Friday, October 30th. Phillip Securities upgraded Amazon.com from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, November 2nd. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $335.00 target price on shares of Amazon.com in a research report on Friday, October 30th. Pivotal Research reiterated a "buy" rating and set a $333.00 target price (up from $320.00) on shares of Amazon.com in a research note on Friday, July 31st. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Amazon.com in a report on Friday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fifty-five have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Amazon.com has a consensus rating of "Moderate Buy" and an average target price of $321.74.

Insiders Place Their Bets

In other Amazon.com news, CEO Andrew R. Jassy sold 20,000 shares of the firm's 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 transaction, the chief executive officer owned 2,235,766 shares in the company, valued at $579,085,751.66. This trade represents a 0.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 Amazon.com 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 completion of the transaction, the senior vice president directly owned 41,190 shares of the company's stock, valued at $10,699,926.30. This represents a 18.35% decrease in their ownership of the stock. 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 a total of 71,589 shares of company stock valued at $18,545,595 in the last quarter. Company insiders own 8.90% of the company's stock.

Amazon.com Stock Performance

NASDAQ AMZN opened at $259.30 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.99 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $2.80 trillion, a P/E ratio of 20.96, a P/E/G ratio of 1.97 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 firm has a 50-day moving average price of $253.96 and a two-hundred day moving average price of $243.57.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its earnings results on Thursday, October 29th. The e-commerce giant reported $1.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.97 by ($0.08). Amazon.com had a return on equity of 15.72% and a net margin of 16.90%. The business had revenue of $201.94 billion for the quarter, compared to analyst estimates of $202.22 billion. During the same quarter in the previous year, the company earned $1.95 EPS. The business's revenue for the quarter was up 12.1% on a year-over-year basis. Analysts anticipate that Amazon.com, Inc. will post 7.80 earnings per share for the current year.

Amazon.com News Summary

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

• Positive Sentiment: AWS growth could be a major long-term catalyst. CEO Andy Jassy sees AWS potentially becoming a $1 trillion business over the next decade, with strong AI demand supporting rapid growth. That outlook may help reassure investors that Amazon’s large infrastructure investments can generate substantial future revenue. Article: Amazon's CEO Andy Jassy Just Announced Huge News for Amazon Investors
• Positive Sentiment: Advertising remains another growth engine. Amazon’s ad revenue grew 12% in the latest quarter, and management expects high-teens growth next, offering a potential boost beyond retail and cloud. Article: Not Alphabet. Not Meta. This Is the Digital Advertising Stock I'd Buy Right Now
• Neutral Sentiment: Amazon is testing text-based shopping with Alexa for selected U.S. customers. The AI assistant can help find products, build carts and complete purchases; the feature could improve shopping convenience, though its impact on sales is not yet clear. Article: Amazon rolls out text-based shopping through Alexa
• Negative Sentiment: Spending and cash-flow concerns remain a near-term overhang. Despite record operating margins, investors are scrutinizing the cash required for Amazon’s AI and data-center buildout. Its latest quarterly EPS and revenue also came in slightly below consensus estimates. Article: Amazon Just Delivered a Record-Breaking Quarter. But There’s One Number Investors Shouldn’t Ignore
• Negative Sentiment: Potential data-center rules could raise costs. Midterm election results have increased attention on restrictions that could require Amazon and other tech companies to pay more of the power and grid costs associated with their data centers, potentially complicating expansion plans. Article: Microsoft and Google Face a New Bill as Data Centers Have to Pay Their Own Costs

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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