Amazon.com, Inc. $AMZN Stock Sold by Flagship Harbor Advisors LLC

Key Points

• Flagship Harbor Advisors cut its Amazon stake by 1.2%, selling 1,892 shares; it retained 153,166 shares valued at about $38.2 million at quarter-end.
• Institutional investors held 72.2% of Amazon shares, with other funds reporting a mix of increased, reduced, and new positions.
• Amazon’s latest quarterly results fell short of expectations: EPS was $1.89 versus a $1.97 estimate, and revenue was $201.94 billion versus a $202.22 billion estimate, though revenue grew 12.1% year over year.

Flagship Harbor Advisors LLC decreased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 153,166 shares of the e-commerce giant's stock after selling 1,892 shares during the quarter. Amazon.com makes up about 1.4% of Flagship Harbor Advisors LLC's holdings, making the stock its 11th biggest position. Flagship Harbor Advisors LLC's holdings in Amazon.com were worth $38,161,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Mill Capital Management LLC boosted its holdings in Amazon.com by 0.7% in the third quarter. Mill Capital Management LLC now owns 195,061 shares of the e-commerce giant's stock worth $48,599,000 after purchasing an additional 1,336 shares in the last quarter. CSP Financial Group LLC increased its position in Amazon.com by 6.5% during the third quarter. CSP Financial Group LLC now owns 1,465 shares of the e-commerce giant's stock worth $365,000 after buying an additional 89 shares during the last quarter. apricus wealth LLC increased its position in Amazon.com by 80.4% during the third quarter. apricus wealth LLC now owns 6,617 shares of the e-commerce giant's stock worth $1,649,000 after buying an additional 2,950 shares during the last quarter. Patton Albertson Miller Group LLC raised its holdings in Amazon.com by 0.6% during the third quarter. Patton Albertson Miller Group LLC now owns 46,512 shares of the e-commerce giant's stock valued at $11,589,000 after buying an additional 279 shares in the last quarter. Finally, Geneva Partners LLC bought a new position in Amazon.com during the third quarter valued at about $7,537,000. Institutional investors own 72.20% of the company's stock.

Amazon.com Price Performance

NASDAQ AMZN opened at $266.17 on Thursday. Amazon.com, Inc. has a twelve month low of $196.00 and a twelve month 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. The stock has a market capitalization of $2.88 trillion, a PE ratio of 21.52, a P/E/G ratio of 2.06 and a beta of 1.49. The stock has a 50-day simple moving average of $254.41 and a 200 day simple moving average of $244.06.

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 for the quarter, missing the consensus estimate of $1.97 by ($0.08). The business had revenue of $201.94 billion for the quarter, compared to the consensus estimate of $202.22 billion. Amazon.com had a net margin of 16.90% and a return on equity of 15.72%. Amazon.com's revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.95 EPS. Research analysts anticipate that Amazon.com, Inc. will post 7.80 EPS for the current year.

Insider Activity at Amazon.com

In other news, CEO Andrew R. Jassy sold 20,000 shares of the firm's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $259.01, for a total value of $5,180,200.00. Following the sale, the chief executive officer owned 2,235,766 shares in the company, valued at approximately $579,085,751.66. This trade represents a 0.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 6,362 shares of the business'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 $1,647,821.62. Following the transaction, the chief executive officer directly owned 476,681 shares in the company, valued at $123,465,145.81. This trade represents a 1.32% 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. Over the last quarter, insiders sold 71,589 shares of company stock valued at $18,545,595. 8.90% of the stock is owned by corporate insiders.

Key Headlines Impacting Amazon.com

Here are a few of the latest headlines about AMZN:

• Positive Sentiment: AWS growth and backlog support the investment case. AWS grew 39.3% in the latest quarter, its fastest pace in nearly five years, and has a reported $578 billion backlog. That demand could help justify Amazon’s major AI infrastructure buildout. AWS growth and backlog article
• Positive Sentiment: Anthropic could add strategic and financial upside. Amazon is a major Anthropic investor and cloud provider; an anticipated IPO could raise the estimated value of its stake substantially, while Anthropic’s infrastructure commitments may generate AWS business. Any IPO valuation gain remains prospective, not cash already realized. Anthropic IPO article
• Neutral Sentiment: AWS expansion offers future capacity but requires substantial investment. Amazon’s planned Chile data centers add to its infrastructure footprint, though investors are weighing that opportunity against the cost of building out capacity. AWS Chile data center article

Analysts Set New Price Targets

A number of analysts have weighed in on AMZN shares. Barclays reaffirmed an "overweight" rating and issued a $365.00 price target (up from $330.00) on shares of Amazon.com in a research report on Friday, July 31st. Deutsche Bank reissued a "buy" rating and set a $325.00 price objective (up from $315.00) on shares of Amazon.com in a report on Friday, July 31st. Monness Crespi & Hardt raised their price objective on Amazon.com from $315.00 to $330.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Roth Capital restated a "buy" rating and issued a $325.00 target price on shares of Amazon.com in a report on Monday, August 3rd. Finally, Tigress Financial reaffirmed a "buy" rating and set a $385.00 target price (up from $315.00) on shares of Amazon.com in a research report on Tuesday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, fifty-five have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $321.74.

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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