Amazon.com, Inc. $AMZN Stock Purchased by Gibbs Wealth Management

Key Points

• Gibbs Wealth Management increased its Amazon stake by 43.5% in the third quarter, adding 18,452 shares to own 60,912 shares valued at about $15.2 million. Institutional investors and hedge funds collectively own 72.2% of Amazon’s stock.
• Amazon’s latest quarterly results slightly missed estimates: EPS was $1.89 versus $1.97 expected, and revenue was $201.94 billion versus $202.22 billion, though revenue rose 12.1% year over year. Analysts overall maintain a “Moderate Buy” rating, with an average price target of $321.74.
• Growth opportunities and investment risks remain in focus: strong AWS and advertising growth prospects could support the business, while AI and data-center spending may pressure cash flow and face potential added power costs.

Gibbs Wealth Management boosted its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 43.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 60,912 shares of the e-commerce giant's stock after buying an additional 18,452 shares during the period. Amazon.com makes up 1.5% of Gibbs Wealth Management's portfolio, making the stock its 15th largest holding. Gibbs Wealth Management's holdings in Amazon.com were worth $15,176,000 as of its most recent filing with the SEC.

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

Key Headlines Impacting 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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AMZN shares. Mizuho raised their price target on shares of Amazon.com from $330.00 to $335.00 and gave the stock an "outperform" rating in a research report on Friday, October 30th. Robert W. Baird set a $310.00 price objective on shares of Amazon.com and gave the company an "outperform" rating in a report on Friday, July 31st. Zacks Research lowered shares of Amazon.com from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 14th. Truist Financial set a $390.00 target price on shares of Amazon.com in a research report on Friday, October 30th. Finally, Citizens Jmp lowered their target price on shares of Amazon.com from $315.00 to $275.00 and set a "market outperform" rating on the stock in a report on Friday, October 30th. Two research 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's stock. Based on data from MarketBeat, Amazon.com presently has an average rating of "Moderate Buy" and an average price target of $321.74.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 6,362 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $259.01, for a total transaction of $1,647,821.62. Following the sale, the chief executive officer owned 476,681 shares in the company, valued at approximately $123,465,145.81. This trade represents a 1.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 Amazon.com stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $259.77, for a total transaction of $2,404,950.66. Following the completion of the transaction, 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 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. In the last ninety days, insiders sold 71,589 shares of company stock worth $18,545,595. 8.90% of the stock is owned by company insiders.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $259.30 on Monday. The stock has a market capitalization of $2.80 trillion, a P/E ratio of 20.96, a PEG ratio of 1.97 and a beta of 1.49. The stock's fifty day moving average is $253.96 and its 200 day moving average is $243.57. Amazon.com, Inc. has a 52 week low of $196.00 and a 52 week high of $287.20. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.82 and a current ratio of 0.99.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The e-commerce giant reported $1.89 earnings per share for the quarter, missing the consensus estimate of $1.97 by ($0.08). The firm had revenue of $201.94 billion for the quarter, compared to the consensus estimate of $202.22 billion. Amazon.com had a return on equity of 15.72% and a net margin of 16.90%. The company's revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.95 EPS. Sell-side analysts forecast that Amazon.com, Inc. will post 7.80 earnings per share for the current fiscal year.

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.

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