Artemis Investment Management LLP Trims Stake in Amazon.com, Inc. $AMZN

Key Points

• Artemis Investment Management LLP reduced its Amazon stake by 8.7% in the fourth quarter, selling 70,617 shares and ending with 739,935 shares worth about $170.8 million.
• Amazon reported strong quarterly results, with EPS of $2.78 beating estimates and revenue rising 16.6% year over year to $181.52 billion.
• Despite some insider selling, analysts remain broadly positive on AMZN: the stock carries a Moderate Buy consensus, with several firms recently raising price targets and Bank of America lifting its target to $310.

Artemis Investment Management LLP cut its position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 8.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 739,935 shares of the e-commerce giant's stock after selling 70,617 shares during the period. Amazon.com comprises about 2.1% of Artemis Investment Management LLP's portfolio, making the stock its 4th largest position. Artemis Investment Management LLP's holdings in Amazon.com were worth $170,792,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Lifelong Wealth Advisors Inc. increased its stake in Amazon.com by 2.4% in the 4th quarter. Lifelong Wealth Advisors Inc. now owns 1,740 shares of the e-commerce giant's stock valued at $402,000 after buying an additional 41 shares during the last quarter. Financial Connections Group Inc. increased its stake in Amazon.com by 2.6% in the 4th quarter. Financial Connections Group Inc. now owns 1,633 shares of the e-commerce giant's stock valued at $376,000 after buying an additional 42 shares during the last quarter. Marquette Asset Management LLC increased its stake in Amazon.com by 5.1% in the 4th quarter. Marquette Asset Management LLC now owns 886 shares of the e-commerce giant's stock valued at $205,000 after buying an additional 43 shares during the last quarter. Western Financial Corp CA increased its stake in Amazon.com by 1.5% in the 4th quarter. Western Financial Corp CA now owns 3,076 shares of the e-commerce giant's stock valued at $710,000 after buying an additional 44 shares during the last quarter. Finally, Cadence Wealth Management LLC increased its stake in Amazon.com by 3.5% in the 3rd quarter. Cadence Wealth Management LLC now owns 1,328 shares of the e-commerce giant's stock valued at $292,000 after buying an additional 45 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Stock Performance

NASDAQ AMZN opened at $266.32 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.18 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $2.86 trillion, a P/E ratio of 31.86, a P/E/G ratio of 1.99 and a beta of 1.46. Amazon.com, Inc. has a 12-month low of $196.00 and a 12-month high of $278.56. The firm has a 50-day moving average price of $239.50 and a two-hundred day moving average price of $231.70.

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

Insider Activity

In other news, CEO Andrew R. Jassy sold 31,352 shares of the company's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $275.00, for a total transaction of $8,621,800.00. Following the completion of the sale, the chief executive officer owned 2,175,766 shares of the company's stock, valued at approximately $598,335,650. This represents a 1.42% decrease in their position. 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 3,742 shares of the company's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $262.59, for a total transaction of $982,611.78. Following the transaction, the chief executive officer owned 476,972 shares of the company's stock, valued at approximately $125,248,077.48. This represents a 0.78% 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 90 days, insiders sold 146,773 shares of company stock worth $37,989,011. 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: Bank of America reiterated a Buy rating and raised its price target to $310, saying Amazon’s AI-powered shopping tools could help defend and expand its retail franchise. BofA Pounds the Table on Amazon (AMZN) Stock, Sets $310 Price Target
• Positive Sentiment: Analysts and market commentary highlighted Amazon’s breakout above key technical levels and said the stock remains in a bullish setup, which can attract momentum buyers. Amazon (AMZN) Recently Broke Out Above the 20-Day Moving Average
• Positive Sentiment: Recent coverage from multiple outlets pointed to Amazon’s AI initiatives, including Alexa for Shopping, as a potential long-term growth driver for retail and advertising. Amazon's Alexa for Shopping seen driving long-term retail growth
• Positive Sentiment: Jeff Bezos and other supporters defended heavy AI spending, and Bill Ackman reportedly added to Amazon, reinforcing the idea that major investors still see upside in the stock. Billionaire Bill Ackman Piled Into Amazon and Microsoft and Slashed His Fund's Mammoth Stake in This AI Kingpin by 95%
• Neutral Sentiment: Amazon shareholders re-elected the board and approved the existing pay and governance framework, signaling continuity rather than a major corporate change. Amazon Shareholders Back Board, Pay and Governance Status Quo
• Negative Sentiment: Amazon also faced fresh criticism from U.K. lawmakers over delivery practices, which could add regulatory pressure to the company’s logistics and marketplace operations. Amazon (AMZN) Hit with New Accusation From U.K. Lawmakers

Analyst Ratings Changes

AMZN has been the topic of several recent research reports. Weiss Ratings upgraded shares of Amazon.com from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 6th. Monness Crespi & Hardt boosted their price objective on shares of Amazon.com from $280.00 to $315.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Mizuho boosted their price objective on shares of Amazon.com from $315.00 to $325.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 28th. Canaccord Genuity Group boosted their price objective on shares of Amazon.com from $300.00 to $330.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Finally, Susquehanna restated a "positive" rating and set a $325.00 price objective (up from $300.00) on shares of Amazon.com in a research note on Thursday, April 30th. Fifty-seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $312.66.

Amazon.com 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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