Cane Capital Partners LLC Has $13.85 Million Stake in Amazon.com, Inc. $AMZN

Key Points

• Cane Capital Partners reduced its Amazon stake by 21.1% in the first quarter, selling 17,812 shares and leaving it with 66,495 shares worth about $13.85 million. Amazon remains the fund’s second-largest holding.
• Amazon’s latest quarterly results were strong, with $2.78 EPS and $181.52 billion in revenue, both beating analyst expectations. Revenue rose 16.6% year over year, and analysts still forecast solid full-year earnings.
• Sentiment on the stock remains broadly positive: multiple analysts raised price targets, and MarketBeat shows 57 Buy ratings versus just three Holds, with a consensus target of $312.79. However, insiders have also been selling shares, which may temper near-term enthusiasm.

Cane Capital Partners LLC cut its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 21.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 66,495 shares of the e-commerce giant's stock after selling 17,812 shares during the quarter. Amazon.com makes up 6.0% of Cane Capital Partners LLC's investment portfolio, making the stock its 2nd largest holding. Cane Capital Partners LLC's holdings in Amazon.com were worth $13,849,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Amazon.com in the fourth quarter worth about $32,868,735,000. Auto Owners Insurance Co grew its position 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 valued at $2,272,397,000 after acquiring an additional 98,090,585 shares during the period. J. Stern & Co. LLP grew its position in shares of Amazon.com by 20,598.0% during 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 acquiring an additional 87,557,736 shares during the period. Nuveen LLC purchased a new stake in shares of Amazon.com during the 1st quarter worth approximately $11,674,091,000. Finally, Cardano Risk Management B.V. increased its stake in shares of Amazon.com by 879.4% during the 4th quarter. Cardano Risk Management B.V. now owns 27,862,400 shares of the e-commerce giant's stock worth $6,431,199,000 after purchasing an additional 25,017,588 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

Insider Activity

In other Amazon.com news, CEO Matthew S. Garman sold 15,467 shares of the firm's stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 14,159 shares of the company's stock, valued at $3,729,480.60. This trade represents a 52.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 27,500 shares of the company's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $275.00, for a total transaction of $7,562,500.00. Following the completion of the transaction, the chief executive officer directly owned 471,361 shares in the company, valued at approximately $129,624,275. The trade was a 5.51% 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 195,774 shares of company stock valued at $51,643,704 in the last quarter. 8.90% of the stock is currently owned by company insiders.

Amazon.com Trading Down 0.7%

Shares of AMZN opened at $245.34 on Friday. Amazon.com, Inc. has a twelve month low of $196.00 and a twelve month high of $278.56. The stock has a market cap of $2.64 trillion, a PE ratio of 29.35, a P/E/G ratio of 1.84 and a beta of 1.46. 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 business's 50-day moving average price is $253.04 and its 200-day moving average price is $235.31.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 EPS for the quarter, beating the consensus estimate of $1.63 by $1.15. The company had revenue of $181.52 billion during 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%. Amazon.com's revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.59 earnings per share. On average, equities analysts forecast that Amazon.com, Inc. will post 7.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on AMZN. Citigroup reiterated a "market outperform" rating on shares of Amazon.com in a research note on Monday, June 1st. Scotiabank reissued an "outperform" rating and issued a $325.00 target price (up from $275.00) on shares of Amazon.com in a research report on Thursday, April 30th. Truist Financial boosted their target price on Amazon.com from $310.00 to $320.00 and gave the company a "buy" rating in a research note on Friday, May 29th. Telsey Advisory Group upped their price target on Amazon.com from $300.00 to $315.00 and gave the company an "outperform" rating in a research report on Thursday, April 30th. Finally, Evercore upped their price target on Amazon.com from $285.00 to $315.00 and gave the company an "outperform" rating in a research report on Thursday, April 30th. Fifty-seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $312.79.

Key Amazon.com News

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

• Positive Sentiment: Several reports highlighted Amazon’s expanding AI/data-center buildout, including plans to increase capacity and a $25 billion bond sale to fund infrastructure, which bulls see as supporting long-term AWS growth. Amazon’s New Debt Deal Puts Its AI Spending Story on Trial
• Positive Sentiment: Analyst coverage remained constructive, with BNP Paribas keeping an Outperform rating and a $345 target, while BofA raised its price target and cited improving sell-through trends for Amazon’s retail business. Amazon's Valuation Looks Attractive Ahead of Earnings: Analyst
• Positive Sentiment: Articles also framed Amazon as a leading AI winner, noting that hyperscaler spending may be “pre-sold” through future demand and that Amazon’s valuation remains attractive relative to peers. Nervous About AI Spending? Buy the Stocks of These 3 Tech Giants.
• Neutral Sentiment: One story said Amazon is cheaper than Walmart and Costco on a key valuation metric, but the explanation was more about business mix than a clear near-term catalyst. Why Is Amazon so Much Cheaper Than Walmart and Costco? This Is the Only Answer I Can Think of.
• Negative Sentiment: Investors remain wary of Amazon’s heavy capex and rising debt needs, with some coverage warning that free cash flow has been squeezed as the company funds its AI expansion. Huge News for Amazon Stock Investors!
• Negative Sentiment: There were also headlines about Third Point trimming its Amazon stake and commentary about insider selling, which can add to short-term caution. Billionaire Investor Retreats From Retail, Exits Alibaba Entirely, Cuts Amazon Stake 10%

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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