Bornite Capital Management LP Makes New $56.65 Million Investment in Amazon.com, Inc. $AMZN

Key Points

• Bornite Capital Management initiated a $56.65 million Amazon position by purchasing 237,700 shares in the second quarter, making Amazon its second-largest holding at 7.1% of the portfolio.
• Institutional investors collectively own 72.2% of Amazon’s shares, with several funds adding or initiating positions during the quarter.
• Amazon reported strong quarterly results, earning $5.75 per share on $200.61 billion in revenue, while analysts maintain a “Moderate Buy” consensus and an average price target of $321.63.

Bornite Capital Management LP purchased a new position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 237,700 shares of the e-commerce giant's stock, valued at approximately $56,653,000. Amazon.com comprises 7.1% of Bornite Capital Management LP's portfolio, making the stock its 2nd biggest holding.

Several other hedge funds and other institutional investors have also modified their holdings of AMZN. Silvant Capital Management LLC bought a new stake in Amazon.com in the second quarter worth approximately $60,065,000. Public Employees Retirement System of Ohio acquired a new position in shares of Amazon.com during the 2nd quarter worth $909,868,000. Northstar Financial Companies Inc. bought a new position in shares of Amazon.com during the 2nd quarter valued at $3,376,000. Gryphon Financial Partners LLC raised its holdings in shares of Amazon.com by 7.5% during the 1st quarter. Gryphon Financial Partners LLC now owns 73,085 shares of the e-commerce giant's stock valued at $15,221,000 after purchasing an additional 5,125 shares in the last quarter. Finally, First Citizens Bank & Trust Co. lifted its stake in shares of Amazon.com by 1.7% in the 1st quarter. First Citizens Bank & Trust Co. now owns 303,862 shares of the e-commerce giant's stock valued at $63,285,000 after purchasing an additional 5,104 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Trading Up 1.0%

Shares of NASDAQ:AMZN opened at $249.15 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.87 and a current ratio of 1.03. The stock's 50-day moving average is $256.38 and its 200-day moving average is $247.94. The company has a market cap of $2.69 trillion, a P/E ratio of 20.04, a P/E/G ratio of 1.91 and a beta of 1.44. Amazon.com, Inc. has a 52-week low of $196.00 and a 52-week high of $287.20.

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

Analyst Ratings Changes

AMZN has been the subject of a number of recent research reports. Wedbush upped their price objective on shares of Amazon.com from $293.00 to $310.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Sanford C. Bernstein restated an "outperform" rating and set a $320.00 target price (up from $315.00) on shares of Amazon.com in a report on Friday, July 31st. Monness Crespi & Hardt boosted their price target on Amazon.com from $315.00 to $330.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Wells Fargo & Company reiterated an "overweight" rating and set a $338.00 price target (up from $328.00) on shares of Amazon.com in a research note on Thursday, September 3rd. Finally, Zacks Research lowered Amazon.com from a "strong-buy" rating to a "hold" rating in a report on Monday, September 14th. Fifty-six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $321.63.

Amazon.com News Summary

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

• Positive Sentiment: Rosenblatt raised its price target to $360 from $335 and maintained a Buy rating, implying roughly 46% upside. The firm said concerns that Meta’s Muse and OpenAI’s Dots could displace Amazon’s retail and advertising businesses are overstated. How Amazon’s stock can fight off the AI threat and soar 46%
• Positive Sentiment: AWS agreed to a multiyear Synopsys deal worth more than $1 billion to license chip-design technology. The agreement should support Amazon’s Trainium and Graviton custom-chip efforts, potentially reducing its reliance on Nvidia processors and improving AWS economics over time. Synopsys, Amazon Web Services sign chip design licensing deal
• Positive Sentiment: Amazon signed a 20-year nuclear power agreement with Constellation Energy supporting expansion of Maryland’s Calvert Cliffs plant. The deal could help secure reliable, low-carbon electricity for Amazon’s growing data-center and AI infrastructure needs. Constellation, Amazon sign 20-year power deal
• Positive Sentiment: New consumer products and services provided additional support. Amazon launched a faster Fire TV Stick 4K with expanded Alexa+ functionality and introduced shipping tools intended to lower delivery costs for sellers of bulky products. These initiatives could support device engagement, retail activity, and marketplace participation. Amazon stock rallies on new Alexa and Fire TV abilities

Insider Buying and Selling

In other news, CEO Matthew S. Garman sold 14,541 shares of the company's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $259.06, for a total transaction of $3,766,991.46. Following the completion of the transaction, the chief executive officer directly owned 17,794 shares in the company, valued at $4,609,713.64. The trade was a 44.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Olsavsky sold 6,172 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $260.31, for a total value of $1,606,633.32. Following the completion of the sale, the chief financial officer directly owned 109,207 shares of the company's stock, valued at $28,427,674.17. This represents a 5.35% 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. Over the last quarter, insiders sold 70,589 shares of company stock worth $18,329,015. 8.90% of the stock is currently owned by company insiders.

Amazon.com Company Profile

Amazon.com, Inc is a global technology and commerce company that operates online marketplaces, physical stores, and a broad portfolio of digital and cloud-based services. The company offers consumer products across categories such as electronics, household goods, apparel, groceries, and entertainment, while also providing third-party sellers with tools for listing, selling, and fulfilling orders.

Amazon's major businesses include Amazon Web Services (AWS), which provides cloud computing, storage, database, analytics, and artificial intelligence services; Prime, a membership program that includes shipping, streaming, and other benefits; and digital entertainment services such as Prime Video, Amazon Music, Kindle, and Audible.

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