Amazon.com, Inc. $AMZN Stock Position Cut by Channing Global Advisors LLC

Key Points

• Channing Global Advisors LLC reduced its holdings in Amazon.com, Inc. by 10.7% during the second quarter, now owning 47,253 shares valued at approximately $10.37 million.
• In contrast, Kingstone Capital Partners dramatically increased its position by 542,733.6%, now holding over 132 million shares valued at about $29.1 billion.
• Analysts have varied opinions on Amazon's stock, with recent price targets ranging from $260 to $280, indicating a predominantly optimistic outlook.

Channing Global Advisors LLC cut its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 10.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,253 shares of the e-commerce giant's stock after selling 5,688 shares during the period. Amazon.com accounts for 6.7% of Channing Global Advisors LLC's portfolio, making the stock its 4th largest holding. Channing Global Advisors LLC's holdings in Amazon.com were worth $10,367,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AMZN. Kingstone Capital Partners Texas LLC raised its position in Amazon.com by 542,733.6% in the second quarter. Kingstone Capital Partners Texas LLC now owns 132,641,388 shares of the e-commerce giant's stock worth $29,100,194,000 after acquiring an additional 132,616,953 shares during the period. Norges Bank bought a new position in Amazon.com in the second quarter worth approximately $27,438,011,000. Nuveen LLC bought a new stake in shares of Amazon.com during the 1st quarter valued at $11,674,091,000. Vanguard Group Inc. raised its position in shares of Amazon.com by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 849,721,601 shares of the e-commerce giant's stock valued at $186,420,422,000 after purchasing an additional 17,447,045 shares during the period. Finally, Laurel Wealth Advisors LLC raised its position in shares of Amazon.com by 22,085.8% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 12,177,557 shares of the e-commerce giant's stock valued at $2,671,634,000 after purchasing an additional 12,122,668 shares during the period. 72.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Amazon.com news, SVP David Zapolsky sold 13,570 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $222.76, for a total transaction of $3,022,853.20. Following the completion of the transaction, the senior vice president owned 44,110 shares in the company, valued at $9,825,943.60. The trade was a 23.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey P. Bezos sold 4,273,237 shares of the stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $227.77, for a total value of $973,315,191.49. Following the completion of the sale, the insider owned 890,273,469 shares in the company, valued at approximately $202,777,588,034.13. The trade was a 0.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,864,716 shares of company stock worth $2,486,013,854. Insiders own 9.70% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. HSBC raised their price objective on shares of Amazon.com from $256.00 to $260.00 and gave the company a "buy" rating in a research report on Monday, September 29th. Telsey Advisory Group restated an "outperform" rating and set a $265.00 price objective on shares of Amazon.com in a research report on Wednesday, September 24th. Cowen reiterated a "buy" rating on shares of Amazon.com in a report on Friday, August 1st. Wells Fargo & Company upgraded shares of Amazon.com from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $245.00 to $280.00 in a report on Wednesday, September 24th. Finally, Evercore ISI reiterated an "outperform" rating and issued a $280.00 price target on shares of Amazon.com in a report on Wednesday, August 13th. Three research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $266.26.

Amazon.com Stock Performance

Shares of NASDAQ:AMZN opened at $215.57 on Thursday. Amazon.com, Inc. has a 52 week low of $161.38 and a 52 week high of $242.52. The stock has a market capitalization of $2.30 trillion, a P/E ratio of 32.86, a PEG ratio of 1.43 and a beta of 1.28. The firm has a fifty day simple moving average of $226.02 and a two-hundred day simple moving average of $212.21. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 0.15.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 EPS for the quarter, topping analysts' consensus estimates of $1.31 by $0.37. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The business had revenue of $167.70 billion during the quarter, compared to analysts' expectations of $161.80 billion. During the same period last year, the company posted $1.26 EPS. The business's revenue was up 13.3% on a year-over-year basis. Amazon.com has set its Q3 2025 guidance at EPS. On average, analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Amazon.com Profile

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.

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