Cannon Capital Management Inc. Makes New Investment in Amazon.com, Inc. $AMZN

Key Points

• Cannon Capital Management initiated a new Amazon position in the fourth quarter, buying 7,320 shares valued at about $1.69 million. Amazon now makes up 1.5% of the firm’s holdings and is its 15th-largest position.
• Several other institutional investors also increased their Amazon stakes, and 72.20% of the stock is now owned by institutions and hedge funds. That suggests continued broad interest from large investors.
• Amazon’s recent news flow has been largely positive: Bank of America raised its price target to $310 and highlighted AI-driven shopping tools, while multiple analysts kept bullish ratings amid momentum around the stock’s technical breakout. However, the company also faces some regulatory criticism from U.K. lawmakers.

Cannon Capital Management Inc. bought a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,320 shares of the e-commerce giant's stock, valued at approximately $1,690,000. Amazon.com accounts for 1.5% of Cannon Capital Management Inc.'s holdings, making the stock its 15th biggest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMZN. Brighton Jones LLC grew its position in Amazon.com by 10.9% during 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 period. Revolve Wealth Partners LLC grew its holdings in Amazon.com by 4.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant's stock valued at $5,495,000 after purchasing an additional 986 shares during the last quarter. Bank Pictet & Cie Europe AG grew its holdings in Amazon.com by 2.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant's stock valued at $442,481,000 after purchasing an additional 54,987 shares during the last quarter. Highview Capital Management LLC DE grew its holdings in Amazon.com by 5.5% in 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 purchasing an additional 1,518 shares during the last quarter. Finally, Liberty Square Wealth Partners LLC acquired a new stake in Amazon.com in the fourth quarter valued at $2,153,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com News Roundup

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

Amazon.com Stock Down 0.8%

AMZN opened at $266.32 on Friday. 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 firm has a market cap of $2.86 trillion, a P/E ratio of 31.86, a PEG ratio of 2.01 and a beta of 1.46. Amazon.com, Inc. has a 52 week low of $196.00 and a 52 week high of $278.56. The business's fifty day simple moving average is $239.50 and its 200 day simple moving average is $231.86.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share (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 firm had revenue of $181.52 billion for the quarter, compared to analyst estimates of $177.28 billion. During the same quarter last year, the business earned $1.59 earnings per share. Amazon.com's revenue was up 16.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Amazon.com, Inc. will post 7.71 EPS for the current fiscal year.

Insider Activity

In related news, CEO Douglas J. Herrington sold 3,742 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $262.59, for a total transaction of $982,611.78. Following the sale, the chief executive officer owned 476,972 shares in the company, valued at approximately $125,248,077.48. This trade represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 the firm's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $275.00, for a total transaction of $8,621,800.00. Following the sale, the chief executive officer owned 2,175,766 shares in the company, valued at approximately $598,335,650. This trade represents a 1.42% 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 a total of 201,026 shares of company stock worth $49,128,874 in the last three months. 8.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AMZN shares. Tigress Financial upped their target price on Amazon.com from $305.00 to $315.00 and gave the company a "buy" rating in a report on Wednesday, March 25th. Benchmark upped their target price on Amazon.com from $275.00 to $370.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Scotiabank reiterated an "outperform" rating and issued a $325.00 price target (up from $275.00) on shares of Amazon.com in a research report on Thursday, April 30th. Sanford C. Bernstein reissued an "outperform" rating and set a $315.00 price objective (up from $300.00) on shares of Amazon.com in a research note on Thursday, April 30th. Finally, DA Davidson raised their price objective on shares of Amazon.com from $175.00 to $250.00 and gave the stock a "neutral" rating in a research note on Thursday, April 30th. 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 has a consensus rating of "Moderate Buy" and a consensus price target of $312.66.

About Amazon.com

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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