Ballast Rock Private Wealth LLC Invests $989,000 in Amazon.com, Inc. $AMZN

Key Points

• Ballast Rock Private Wealth LLC opened a new position in Amazon during the fourth quarter, buying 4,287 shares worth about $989,000.
• Amazon continues to attract strong institutional interest, with several other investors increasing stakes and 72.20% of the stock now held by hedge funds and other institutions.
• Despite some insider selling, analysts remain constructive on AMZN, with a Moderate Buy consensus and a price target of $312.52; the company also recently beat earnings and revenue expectations.

Ballast Rock Private Wealth LLC bought a new position in Amazon.com, Inc. (NASDAQ:AMZN) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,287 shares of the e-commerce giant's stock, valued at approximately $989,000.

Several other institutional investors also recently modified their holdings of the business. Brighton Jones LLC boosted its holdings in shares of Amazon.com by 10.9% in the fourth quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant's stock worth $885,478,000 after buying an additional 397,007 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in Amazon.com by 4.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant's stock worth $5,495,000 after buying an additional 986 shares in the last quarter. Bank Pictet & Cie Europe AG grew its position in shares of Amazon.com by 2.8% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant's stock worth $442,481,000 after purchasing an additional 54,987 shares in the last quarter. Highview Capital Management LLC DE raised its position in shares of Amazon.com by 5.5% during the fourth quarter. Highview Capital Management LLC DE now owns 28,975 shares of the e-commerce giant's stock valued at $6,357,000 after buying an additional 1,518 shares during the last quarter. Finally, Liberty Square Wealth Partners LLC bought a new stake in Amazon.com in the 4th quarter valued at $2,153,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Amazon.com

In related news, CEO Douglas J. Herrington sold 6,370 shares of the company's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $262.39, for a total transaction of $1,671,424.30. Following the completion of the sale, the chief executive officer directly owned 486,527 shares in the company, valued at $127,659,819.53. This represents a 1.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew S. Garman sold 15,467 shares of the firm's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $263.40, for a total value of $4,074,007.80. Following the sale, the chief executive officer directly owned 14,159 shares in the company, valued at approximately $3,729,480.60. The trade was a 52.21% decrease in their position. 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 194,774 shares of company stock valued at $51,348,244 over the last 90 days. Insiders own 8.90% of the company's stock.

Analyst Upgrades and Downgrades

AMZN has been the topic of a number of research reports. President Capital reduced their price objective on Amazon.com from $320.00 to $296.00 and set a "buy" rating on the stock in a research note on Tuesday, February 10th. Moffett Nathanson increased their target price on Amazon.com from $283.00 to $288.00 and gave the company a "buy" rating in a research report on Tuesday, April 7th. JPMorgan Chase & Co. raised their target price on shares of Amazon.com from $280.00 to $330.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Raymond James Financial restated an "outperform" rating and issued a $280.00 price target on shares of Amazon.com in a research report on Friday, May 1st. Finally, UBS Group set a $315.00 price objective on shares of Amazon.com in a research report on Monday. Fifty-seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $312.52.

Amazon.com Stock Performance

AMZN stock opened at $256.52 on Wednesday. Amazon.com, Inc. has a twelve month low of $196.00 and a twelve month high of $278.56. The business's fifty day simple moving average is $246.43 and its two-hundred day simple moving average is $232.58. The firm has a market cap of $2.76 trillion, a price-to-earnings ratio of 30.68, a PEG ratio of 1.96 and a beta of 1.44. 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 EPS for the quarter, topping 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 business had revenue of $181.52 billion for the quarter, compared to the consensus estimate of $177.28 billion. During the same period in the prior year, the firm earned $1.59 EPS. The company's revenue for the quarter was up 16.6% compared to the same quarter last year. Analysts predict that Amazon.com, Inc. will post 7.71 earnings per share for the current year.

Key Headlines Impacting Amazon.com

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

• Positive Sentiment: Amazon moved Prime Day to June 23-26 and kept it a four-day event, which could lift near-term e-commerce sales and membership engagement. Reuters Prime Day article
• Positive Sentiment: The event will include new Alexa AI features, reinforcing Amazon’s AI strategy and potentially improving shopping conversion. Forbes article on Alexa AI-powered Prime Day
• Positive Sentiment: Analyst commentary remained constructive, with bullish Wall Street coverage and price-target increases helping support the stock. Zacks analyst article
• Neutral Sentiment: Amazon’s cloud and AI businesses continue to draw attention, including reports that AWS is expanding AI-related investment and that its Anthropic stake has become far more valuable. Business Insider article on Anthropic stake
• Negative Sentiment: Amazon faces fresh regulatory and legal pressure, including an EU cloud procurement review that could make it harder for AWS to win certain government contracts. Reuters EU cloud rules article
• Negative Sentiment: Amazon’s Ring unit was hit with a class-action privacy lawsuit over facial recognition features, adding to ongoing data-privacy scrutiny. Reuters Ring lawsuit article
• Negative Sentiment: Investor sentiment may also be weighed by a report that Stanley Druckenmiller sharply reduced his Amazon position, which can be read as a cautious signal from a high-profile fund manager. Motley Fool Druckenmiller article

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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