Amazon.com, Inc. $AMZN Stock Sold by Thornburg Investment Management Inc.

Key Points

• Thornburg Investment Management cut its Amazon stake by 55.5% in the second quarter, selling 13,142 shares and retaining 10,535 shares valued at approximately $2.51 million.
• Other institutional investors increased their positions, and institutions collectively own 72.2% of Amazon’s outstanding stock.
• Amazon’s outlook remains broadly positive, with strong AWS and AI-infrastructure growth driving analyst optimism, though investors remain concerned about the scale of AI spending and its uncertain monetization.

Thornburg Investment Management Inc. reduced its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 55.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,535 shares of the e-commerce giant's stock after selling 13,142 shares during the quarter. Thornburg Investment Management Inc.'s holdings in Amazon.com were worth $2,511,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of AMZN. Okabena Investment Services Inc. grew its stake in Amazon.com by 45.8% in the 2nd quarter. Okabena Investment Services Inc. now owns 13,369 shares of the e-commerce giant's stock worth $3,186,000 after acquiring an additional 4,201 shares in the last quarter. Spinnaker Trust raised its position in shares of Amazon.com by 6.7% in the 2nd quarter. Spinnaker Trust now owns 82,954 shares of the e-commerce giant's stock worth $19,771,000 after acquiring an additional 5,223 shares in the last quarter. Cullinan Associates Inc. raised its holdings in Amazon.com by 7.2% in the second quarter. Cullinan Associates Inc. now owns 126,253 shares of the e-commerce giant's stock worth $30,091,000 after purchasing an additional 8,500 shares in the last quarter. Greenwood Capital Associates LLC raised its stake in shares of Amazon.com by 1.3% during the 2nd quarter. Greenwood Capital Associates LLC now owns 79,928 shares of the e-commerce giant's stock worth $19,050,000 after acquiring an additional 1,053 shares in the last quarter. Finally, Trustmark Bank Trust Department lifted its holdings in shares of Amazon.com by 7.0% during the 2nd quarter. Trustmark Bank Trust Department now owns 60,671 shares of the e-commerce giant's stock valued at $14,460,000 after purchasing an additional 3,993 shares during the last quarter. Institutional investors 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 and AI infrastructure remain the central bullish case. Analysts and commentators argue that Amazon’s roughly $200 billion 2026 capital-expenditure plan reflects substantial demand for AWS computing, custom chips and AI capacity. Amazon is also reportedly preparing to receive approximately $2.4 billion in backup-generator orders from Generac in 2027 and 2028, underscoring the scale of its data-center expansion. Amazon AI capital expenditures article Generac data-center orders article
• Positive Sentiment: Expansion of merchant services could broaden revenue beyond Amazon.com. New tools let sellers manage listings, inventory and orders across channels including Walmart, Shopify, TikTok and eBay. Amazon is also extending Prime delivery and fulfillment services to merchants’ own websites, potentially increasing third-party logistics revenue and seller dependence on its ecosystem. Amazon merchant services article
• Neutral Sentiment: Anthropic remains strategically important, but its infrastructure is becoming more diversified. Anthropic committed about $11.6 billion to an Akamai CPU agreement, which can be viewed as a setback for AWS. However, Amazon retains a major equity stake and an ongoing AWS relationship, limiting the immediate financial impact. Anthropic Akamai agreement article
• Negative Sentiment: Investors remain concerned that AI spending may outpace monetization. Goldman Sachs estimates hyperscalers may need roughly $300 billion in additional AI revenue to justify their investments, while Michael Burry and Jefferies’ Chris Wood have warned of leverage, overcapacity and potential write-offs. Those concerns could pressure AMZN’s valuation despite strong AWS demand. Goldman Sachs AI spending article
• Negative Sentiment: Amazon’s $3 billion India quick-commerce investment adds near-term cost and execution risk while the company attempts to catch rivals with a relatively small market share. The decision to block Meta’s Muse shopping agent also risks diverting AI-driven purchases toward Shopify and other platforms. Amazon India investment article

Amazon.com Stock Performance

Shares of AMZN stock opened at $249.67 on Monday. The company's 50-day moving average price is $256.39 and its 200-day moving average price is $247.20. Amazon.com, Inc. has a twelve month low of $196.00 and a twelve month high of $287.20. The company has a current ratio of 1.03, a quick ratio of 0.87 and a debt-to-equity ratio of 0.23. The stock has a market cap of $2.69 trillion, a price-to-earnings ratio of 20.09, a PEG ratio of 1.93 and a beta of 1.44.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The e-commerce giant reported $5.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.82 by $3.93. The business had revenue of $200.61 billion during the quarter, compared to the consensus estimate of $197.03 billion. Amazon.com had a net margin of 17.44% and a return on equity of 18.00%. The business's revenue was up 19.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.68 EPS. As a group, equities analysts predict that Amazon.com, Inc. will post 8.01 earnings per share for the current year.

Insider Activity at Amazon.com

In other news, CEO Douglas J. Herrington sold 6,362 shares of Amazon.com stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 476,681 shares of the company's stock, valued at approximately $123,465,145.81. The trade was a 1.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew Garman sold 14,541 shares of Amazon.com stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $259.06, for a total value of $3,766,991.46. Following the completion of the transaction, the chief executive officer directly owned 17,794 shares of the company's stock, valued at approximately $4,609,713.64. This represents a 44.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 71,589 shares of company stock valued at $18,568,785 over the last quarter. 8.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AMZN has been the subject of several research analyst reports. Jefferies Financial Group reaffirmed a "buy" rating on shares of Amazon.com in a research report on Thursday, June 18th. JPMorgan Chase & Co. boosted their price objective on Amazon.com from $330.00 to $365.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Evercore set a $355.00 target price on shares of Amazon.com and gave the company an "outperform" rating in a research note on Friday, August 28th. Pivotal Research reiterated a "buy" rating and set a $333.00 price target (up from $320.00) on shares of Amazon.com in a research report on Friday, July 31st. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $335.00 price objective (up from $330.00) on shares of Amazon.com in a report on Friday, July 31st. Fifty-six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $321.19.

About Amazon.com

Amazon.com, Inc is a global technology and e-commerce company that operates online marketplaces and provides a broad range of consumer products and services. Its retail business sells merchandise directly to customers and enables third-party sellers to offer products through Amazon's websites and applications. The company also operates physical stores and provides services such as digital content, subscriptions, and consumer devices, including Kindle and Echo products.

Amazon Web Services (AWS) provides cloud computing, storage, database, analytics, artificial intelligence, machine learning, and other technology services to businesses, governments, and organizations.

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