AMG Asset Management Group Inc. Buys Shares of 4,102 Amazon.com, Inc. $AMZN

Key Points

• AMG Asset Management Group Inc. opened a new position in Amazon, buying 4,102 shares valued at about $947,000. Amazon now makes up roughly 3.0% of the fund’s holdings and is its 9th largest position.
• Several analysts recently raised price targets on Amazon and kept bullish ratings, with the consensus remaining Moderate Buy and a price target of $312.78. Overall, 57 analysts rate the stock a Buy and only three rate it Hold.
• Amazon’s stock was down 4.7% in the article, even as the company reported strong latest-quarter results, including EPS of $2.78 versus $1.63 expected and revenue of $181.52 billion. The article also notes ongoing investor attention on Prime Day, AI expansion, and concerns about heavy AI spending.

AMG Asset Management Group Inc. acquired a new stake in Amazon.com, Inc. (NASDAQ:AMZN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,102 shares of the e-commerce giant's stock, valued at approximately $947,000. Amazon.com accounts for about 3.0% of AMG Asset Management Group Inc.'s holdings, making the stock its 9th largest position.

A number of other large investors also recently bought and sold shares of AMZN. MilWealth Group LLC lifted its position in shares of Amazon.com by 79.0% during the 4th quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant's stock valued at $41,000 after acquiring an additional 79 shares during the period. Lifetime Wealth Management P.C. acquired a new stake in shares of Amazon.com in the 4th quarter worth approximately $45,000. Elkhorn Partners Limited Partnership increased its stake 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 valued at $46,000 after purchasing an additional 180 shares in the last quarter. Fairway Wealth LLC raised its holdings in Amazon.com by 95.6% during the fourth quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant's stock worth $51,000 after purchasing an additional 108 shares during the last quarter. Finally, Bridge Generations Wealth Management LLC raised its holdings in Amazon.com by 2,330.0% during the third quarter. Bridge Generations Wealth Management LLC now owns 243 shares of the e-commerce giant's stock worth $53,000 after purchasing an additional 233 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. DZ Bank boosted their price objective on shares of Amazon.com from $295.00 to $320.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Amazon.com from $290.00 to $315.00 and gave the company a "buy" rating in a report on Thursday, April 30th. HSBC upped their price target on shares of Amazon.com from $280.00 to $310.00 and gave the company a "buy" rating in a report on Thursday, April 30th. The Goldman Sachs Group reiterated a "buy" rating and issued a $325.00 price target (up from $275.00) on shares of Amazon.com in a research report on Thursday, April 30th. Finally, China Renaissance raised their price objective on shares of Amazon.com from $300.00 to $326.00 and gave the stock a "buy" rating in a research note on Tuesday, May 5th. Fifty-seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $312.78.

Insider Buying and Selling

In related news, SVP David Zapolsky sold 9,270 shares of the firm's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $268.53, for a total transaction of $2,489,273.10. Following the completion of the sale, the senior vice president directly owned 41,190 shares of the company's stock, valued at approximately $11,060,750.70. This trade represents a 18.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 1,000 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $266.19, for a total value of $266,190.00. Following the sale, the chief executive officer owned 485,527 shares of the company's stock, valued at $129,242,432.13. This represents a 0.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 195,774 shares of company stock valued at $51,614,434 over the last three months. Company insiders own 8.90% of the company's stock.

Key Amazon.com News

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

• Positive Sentiment: Prime Day is about to begin, and analysts expect record online spending, which could give Amazon a short-term sales boost and improve sentiment around retail demand. Reuters: Amazon Prime Day to gauge US consumer strain as focus shifts to basics
• Positive Sentiment: Amazon is expanding its AI strategy with new shopping tools, Alexa+ testing in India, and continued AWS adoption, reinforcing the bull case that AI and cloud growth can drive future earnings. TechCrunch: Amazon is testing Alexa+ in India with Hindi support
• Positive Sentiment: Appaloosa’s latest filing showed David Tepper nearly doubled Amazon holdings, a sentiment signal that some large investors still see upside in AMZN. 247WallSt: David Tepper Trimmed Nvidia and AMD, but Doubled Down on This AI Stock
• Neutral Sentiment: Several articles argued Amazon remains a high-quality long-term stock and may be undervalued after its recent pullback, but these are mostly opinion pieces rather than fresh company-specific catalysts. Yahoo Finance: Amazon (AMZN): The Best High Quality Stock to Buy for the Long Term
• Neutral Sentiment: Amazon MGM Studios backed away from a Sam Altman/OpenAI film, which looks more like a content-strategy decision than a meaningful stock driver. GeekWire: Amazon MGM Studios drops film about Sam Altman months after tech giant's OpenAI deal
• Negative Sentiment: Investors are still worried about heavy AI infrastructure spending across hyperscalers, and AMZN has been trading with that group as the market questions near-term returns on capex. 247WallSt: Alphabet Sinks 6%, Amazon Slides 4% Amid AI CapEx Anxiety Across the Hyperscalers
• Negative Sentiment: One concern heading into Prime Day is that nearly everyone who wants Prime already has it, limiting membership-growth upside from the event. Business Insider: Amazon's Prime Day has a problem: Almost everyone has Prime already

Amazon.com Stock Down 4.7%

Shares of NASDAQ AMZN opened at $232.79 on Tuesday. Amazon.com, Inc. has a 52-week low of $196.00 and a 52-week high of $278.56. The firm has a fifty day moving average of $256.49 and a 200-day moving average of $234.11. The stock has a market capitalization of $2.50 trillion, a PE ratio of 27.85, a P/E/G ratio of 1.83 and a beta of 1.45. The company has a quick ratio of 1.01, a current ratio of 1.18 and a debt-to-equity ratio of 0.27.

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

Amazon.com Company Profile

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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