Border to Coast Pensions Partnership Ltd Raises Stock Position in Amazon.com, Inc. $AMZN

Key Points

• Border to Coast Pensions Partnership Ltd increased its Amazon stake by 2.4% in the first quarter, bringing its holdings to 989,296 shares valued at about $206.7 million. Amazon is now its 7th largest position and makes up 3.5% of the fund’s portfolio.
• Amazon reported strong first-quarter earnings, with EPS of $2.78 versus the $1.63 consensus estimate and revenue of $181.52 billion, topping expectations. Revenue rose 16.6% year over year, underscoring continued growth in the business.
• Recent news around Amazon points to new growth drivers, including initial broadband service for its Leo satellite network, expanding AI efforts, and solid Prime Day shopping demand. Wall Street sentiment remains upbeat, with most analysts rating the stock a Buy and a consensus target price of $312.79.

Border to Coast Pensions Partnership Ltd lifted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 989,296 shares of the e-commerce giant's stock after buying an additional 23,649 shares during the period. Amazon.com comprises 3.5% of Border to Coast Pensions Partnership Ltd's holdings, making the stock its 7th largest position. Border to Coast Pensions Partnership Ltd's holdings in Amazon.com were worth $206,672,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Amazon.com during the 4th quarter worth approximately $32,868,735,000. Auto Owners Insurance Co raised its stake in shares of Amazon.com by 27,376.7% during the 4th quarter. Auto Owners Insurance Co now owns 98,448,885 shares of the e-commerce giant's stock worth $2,272,397,000 after purchasing an additional 98,090,585 shares in the last quarter. J. Stern & Co. LLP boosted its holdings in shares of Amazon.com by 20,598.0% in the 4th quarter. J. Stern & Co. LLP now owns 87,982,814 shares of the e-commerce giant's stock valued at $20,308,193,000 after buying an additional 87,557,736 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Amazon.com in the 1st quarter valued at approximately $11,674,091,000. Finally, Cardano Risk Management B.V. grew its stake in shares of Amazon.com by 879.4% in the fourth quarter. Cardano Risk Management B.V. now owns 27,862,400 shares of the e-commerce giant's stock valued at $6,431,199,000 after buying an additional 25,017,588 shares in the last quarter. Institutional investors own 72.20% of the company's stock.

Insider Transactions at Amazon.com

In other Amazon.com news, CEO Matthew S. Garman sold 15,467 shares of the company's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $263.40, for a total value of $4,074,007.80. Following the transaction, the chief executive officer directly owned 14,159 shares of the company's stock, valued at $3,729,480.60. This represents a 52.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew R. Jassy sold 31,352 shares of Amazon.com stock in a transaction on Monday, May 4th. The stock was sold at an average price of $275.00, for a total value of $8,621,800.00. Following the sale, the chief executive officer directly owned 2,175,766 shares of the company's stock, valued at $598,335,650. This represents a 1.42% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 195,774 shares of company stock worth $51,643,704 over the last three months. Company insiders own 8.90% of the company's stock.

Amazon.com Stock Performance

Shares of AMZN stock opened at $242.67 on Friday. The company has a market capitalization of $2.61 trillion, a price-to-earnings ratio of 29.03, a PEG ratio of 1.81 and a beta of 1.46. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.18. The company has a 50-day simple moving average of $254.57 and a 200 day simple moving average of $234.57. Amazon.com, Inc. has a 52 week low of $196.00 and a 52 week high of $278.56.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share for the quarter, beating the consensus estimate of $1.63 by $1.15. The firm had revenue of $181.52 billion for the quarter, compared to analysts' expectations of $177.28 billion. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The business's revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.59 EPS. On average, sell-side analysts predict that Amazon.com, Inc. will post 7.75 earnings per share for the current year.

Amazon.com News Summary

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

• Positive Sentiment: Amazon said its Leo satellite network has enough satellites to begin initial broadband service this year, opening a new growth opportunity in satellite internet. Reuters: Amazon to start initial Leo internet service this year as network nears 400 satellites
• Positive Sentiment: Amazon is expanding its AI strategy with custom device chips and broader AWS AI capabilities, which could support future margins and growth. CNBC: Amazon is designing its own AI chips for Echo, Fire TV and future devices
• Positive Sentiment: Prime Day-related reports pointed to strong online shopping demand, reinforcing confidence in Amazon’s retail momentum heading into earnings. Yahoo Finance/Reuters: Online Spending Rises 5.3% on First Day of Amazon’s Prime Day

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AMZN. Pivotal Research restated a "buy" rating and set a $320.00 target price (up from $300.00) on shares of Amazon.com in a report on Thursday, April 30th. Bank of America increased their price target on shares of Amazon.com from $298.00 to $310.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Susquehanna reissued a "positive" rating and issued a $325.00 price objective (up from $300.00) on shares of Amazon.com in a research report on Thursday, April 30th. Wells Fargo & Company restated an "overweight" rating and set a $313.00 price objective (up from $312.00) on shares of Amazon.com in a research note on Thursday. Finally, JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of Amazon.com in a report on Friday, June 26th. Fifty-seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Amazon.com has an average rating of "Moderate Buy" and a consensus target price of $312.79.

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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