Amazon.com, Inc. $AMZN Stock Position Lowered by Cohen Klingenstein LLC

Key Points

• Cohen Klingenstein LLC trimmed its Amazon stake by 3.4% in the first quarter, selling 18,451 shares and leaving it with 521,124 shares valued at about $108.5 million.
• Despite some portfolio reduction, institutional ownership remains heavy, with hedge funds and other institutions holding about 72.2% of Amazon shares; meanwhile, several analysts kept bullish ratings and targets near $313 on average.
• Amazon continues to show strong operating momentum, with its latest quarter beating expectations on both EPS and revenue, while Prime Day, AI commerce initiatives, and AWS partnerships are highlighted as potential growth drivers.

Cohen Klingenstein LLC lessened its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 3.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 521,124 shares of the e-commerce giant's stock after selling 18,451 shares during the period. Amazon.com comprises about 3.5% of Cohen Klingenstein LLC's holdings, making the stock its 7th largest holding. Cohen Klingenstein LLC's holdings in Amazon.com were worth $108,534,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. MilWealth Group LLC increased its stake in shares of Amazon.com by 79.0% in the fourth quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant's stock worth $41,000 after buying an additional 79 shares during the period. Lifetime Wealth Management P.C. purchased a new stake in Amazon.com during the 4th quarter valued at $45,000. Elkhorn Partners Limited Partnership grew its holdings in Amazon.com by 900.0% in the 4th quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant's stock worth $46,000 after acquiring an additional 180 shares during the last quarter. Fairway Wealth LLC grew its holdings in Amazon.com by 95.6% in the 4th quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant's stock worth $51,000 after acquiring an additional 108 shares during the last quarter. Finally, Prudent Man Investment Management Inc. increased its position in shares of Amazon.com by 87.7% in the fourth quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant's stock valued at $53,000 after acquiring an additional 107 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

More Amazon.com News

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

• Positive Sentiment: Prime Day has kicked off earlier than usual and is expected to generate record online spending, with estimates above $26 billion across retailers; that could lift Amazon’s retail revenue and merchant activity. Amazon Prime Day expected to drive record $26B in online spending
• Positive Sentiment: Amazon is leaning hard into AI commerce during Prime Day, including Alexa for Shopping and new agentic ads that can place purchases automatically, which could improve engagement and show off Amazon’s AI monetization strategy. Amazon ads can make purchases for you
• Positive Sentiment: Multiple analyst-style commentaries remain bullish, citing AWS reacceleration, advertising growth, Prime subscriptions, and the possibility that Amazon’s AI chips could become an additional business line. Amazon: You Aren't Bullish Enough
• Positive Sentiment: A new AWS partnership with ArcelorMittal and another AWS deal with PennyMac highlight continued enterprise adoption of Amazon’s cloud and AI tools. Amazon teams with ArcelorMittal to bring AI into steel plants
• Neutral Sentiment: Prime Day is also being viewed as a consumer spending litmus test, with more focus on basics and household goods than discretionary splurges, so results will be important for sentiment but not clearly a direct positive or negative. Amazon Prime Day to gauge US consumer strain
• Negative Sentiment: AMZN has been caught in a broader selloff in big tech as investors worry about heavy AI capital spending and uncertain near-term returns, which has weighed on the stock despite strong fundamentals. Alphabet sinks, Amazon slides amid AI capex anxiety
• Negative Sentiment: Amazon also faces fresh labor and regulatory overhangs, including an order to bargain with Teamsters at a California fulfillment center and renewed FTC-related concern. Amazon told to negotiate with Teamsters

Analyst Ratings Changes

A number of research firms have recently weighed in on AMZN. Cantor Fitzgerald reiterated an "overweight" rating and set a $330.00 target price (up from $280.00) on shares of Amazon.com in a report on Thursday, April 30th. Raymond James Financial restated an "outperform" rating and set a $280.00 price target on shares of Amazon.com in a report on Friday, May 1st. Piper Sandler set a $330.00 price target on Amazon.com in a research report on Thursday, June 11th. UBS Group set a $315.00 price objective on Amazon.com in a report on Monday, June 1st. Finally, Barclays reiterated an "overweight" rating on shares of Amazon.com in a research report on Tuesday, June 9th. Fifty-seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $312.78.

Insider Buying and Selling at Amazon.com

In other news, CEO Andrew R. Jassy sold 31,352 shares of Amazon.com stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $275.00, for a total transaction of $8,621,800.00. Following the completion of the transaction, the chief executive officer directly owned 2,175,766 shares in the company, valued at approximately $598,335,650. This trade represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew S. Garman sold 15,467 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $263.40, for a total value of $4,074,007.80. Following the completion of the sale, the chief executive officer directly owned 14,159 shares in the company, valued at approximately $3,729,480.60. This represents a 52.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 195,774 shares of company stock worth $51,614,434 over the last three months. Company insiders own 8.90% of the company's stock.

Amazon.com Stock Up 0.6%

NASDAQ:AMZN opened at $234.11 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.01. The firm's 50-day moving average price is $256.40 and its 200-day moving average price is $234.12. The company has a market capitalization of $2.52 trillion, a PE ratio of 28.00, a P/E/G ratio of 1.74 and a beta of 1.45. Amazon.com, Inc. has a 1-year low of $196.00 and a 1-year high of $278.56.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $1.15. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The company had revenue of $181.52 billion during the quarter, compared to analysts' expectations of $177.28 billion. During the same period last year, the company posted $1.59 EPS. Amazon.com's revenue was up 16.6% on a year-over-year basis. On average, equities analysts predict that Amazon.com, Inc. will post 7.71 EPS for the current fiscal year.

About Amazon.com

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon's online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.

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