Amazon.com, Inc. $AMZN Stock: Private Wealth Partners LLC Boosts Position

Key Points

• Private Wealth Partners increased its Amazon position 1.0% in the third quarter, adding 2,624 shares to bring its holdings to 266,875 shares, valued at about $66.5 million.
• Analyst sentiment is broadly positive: Amazon has a “Moderate Buy” consensus rating and an average price target of $321.74; Barclays raised its target to $365.
• Amazon’s latest quarter slightly missed analyst estimates, reporting EPS of $1.89 versus $1.97 expected and revenue of $201.94 billion versus $202.22 billion expected, though revenue rose 12.1% year over year.

Private Wealth Partners LLC increased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 1.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 266,875 shares of the e-commerce giant's stock after acquiring an additional 2,624 shares during the period. Amazon.com comprises 4.5% of Private Wealth Partners LLC's investment portfolio, making the stock its 5th biggest position. Private Wealth Partners LLC's holdings in Amazon.com were worth $66,492,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp lifted its holdings in Amazon.com by 5.5% during 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 buying an additional 21,398,025 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Amazon.com in the second quarter worth $22,218,775,000. Bank of New York Mellon Corp acquired a new position in shares of Amazon.com in the second quarter worth $16,341,405,000. Amundi increased its position in shares of Amazon.com by 3.9% during the second quarter. Amundi now owns 63,822,242 shares of the e-commerce giant's stock worth $15,211,393,000 after acquiring an additional 2,421,739 shares during the period. Finally, Legal & General Group Plc purchased a new stake in shares of Amazon.com during the second quarter worth $12,831,376,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMZN has been the topic of several analyst reports. DA Davidson set a $250.00 price objective on Amazon.com and gave the company a "neutral" rating in a research note on Friday, October 30th. Barclays reissued an "overweight" rating and set a $365.00 target price (up from $330.00) on shares of Amazon.com in a research note on Friday, July 31st. Susquehanna restated a "positive" rating on shares of Amazon.com in a report on Friday, October 30th. KeyCorp set a $345.00 price target on Amazon.com and gave the company an "overweight" rating in a research report on Friday, October 30th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $300.00 price objective on shares of Amazon.com in a research note on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, fifty-five have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $321.74.

Amazon.com Price Performance

Amazon.com stock opened at $259.30 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.82 and a debt-to-equity ratio of 0.28. The company has a fifty day simple moving average of $253.96 and a 200-day simple moving average of $243.57. The stock has a market cap of $2.80 trillion, a P/E ratio of 20.96, a price-to-earnings-growth 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.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its earnings results on Thursday, October 29th. The e-commerce giant reported $1.89 EPS 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 business had revenue of $201.94 billion during the quarter, compared to analysts' expectations of $202.22 billion. During the same period last year, the company earned $1.95 EPS. The business's quarterly revenue was up 12.1% compared to the same quarter last year. Equities analysts expect that Amazon.com, Inc. will post 7.80 EPS for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other news, CEO Douglas Herrington sold 6,362 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $259.01, for a total value of $1,647,821.62. Following the transaction, the chief executive officer owned 476,681 shares in the company, valued at approximately $123,465,145.81. This represents a 1.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP David Zapolsky sold 9,258 shares of the firm's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $259.77, for a total value of $2,404,950.66. Following the sale, the senior vice president directly owned 41,190 shares in the company, valued at $10,699,926.30. This trade represents 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. In the last quarter, insiders sold 71,589 shares of company stock worth $18,545,595. Corporate insiders own 8.90% of the company's stock.

Trending Headlines about Amazon.com

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

Amazon.com Company 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.

Want to see what other hedge funds are holding AMZN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amazon.com, Inc. (NASDAQ:AMZN - Free Report).

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.