Cove Private Wealth LLC Boosts Stock Holdings in Amazon.com, Inc. $AMZN

Key Points

• Cove Private Wealth LLC increased its stake in Amazon by 5.8% to 67,598 shares (worth about $15.6 million), making AMZN roughly 4.6% of its portfolio and its fourth-largest holding.
• Following a strong Q1 and accelerated AWS growth, several analysts raised price targets (e.g., Benchmark $370, UBS $333, Cantor Fitzgerald $330$308.55 and a "Moderate Buy" consensus.
• Insiders have recently sold shares—CEO Andrew Jassy sold 31,000 shares at about $255 and a director sold 3,849 shares at $260 under 10b5‑1 plans—while institutional investors own about 72.2% of the company and insiders own 8.9%.

Cove Private Wealth LLC raised its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 5.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 67,598 shares of the e-commerce giant's stock after buying an additional 3,694 shares during the period. Amazon.com makes up about 4.6% of Cove Private Wealth LLC's investment portfolio, making the stock its 4th largest holding. Cove Private Wealth LLC's holdings in Amazon.com were worth $15,603,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Amazon.com by 1.1% in the first quarter. Vanguard Group Inc. now owns 832,274,556 shares of the e-commerce giant's stock valued at $158,348,557,000 after buying an additional 8,913,959 shares in the last quarter. State Street Corp increased its holdings in shares of Amazon.com by 2.0% in the third quarter. State Street Corp now owns 381,681,441 shares of the e-commerce giant's stock valued at $83,805,794,000 after buying an additional 7,584,156 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Amazon.com by 1.7% in the second quarter. Geode Capital Management LLC now owns 216,717,657 shares of the e-commerce giant's stock valued at $47,332,625,000 after buying an additional 3,721,658 shares in the last quarter. Norges Bank bought a new position in shares of Amazon.com in the second quarter valued at $27,438,011,000. Finally, Northern Trust Corp increased its holdings in shares of Amazon.com by 0.3% in the first quarter. Northern Trust Corp now owns 97,379,134 shares of the e-commerce giant's stock valued at $18,527,354,000 after buying an additional 302,858 shares in the last quarter. Institutional investors own 72.20% of the company's stock.

Analyst Ratings Changes

AMZN has been the topic of several research reports. UBS Group reaffirmed a "buy" rating and issued a $333.00 price target (up from $304.00) on shares of Amazon.com in a report on Wednesday. Cantor Fitzgerald reissued an "overweight" rating and set a $330.00 target price (up from $280.00) on shares of Amazon.com in a research note on Thursday. Benchmark boosted their target price on shares of Amazon.com from $275.00 to $370.00 and gave the company a "buy" rating in a research note on Thursday. Wall Street Zen downgraded shares of Amazon.com from a "buy" rating to a "hold" rating in a research note on Saturday, January 10th. Finally, New Street Research cut their target price on shares of Amazon.com from $285.00 to $280.00 and set a "buy" rating on the stock in a research note on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifty-five have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $308.55.

Insiders Place Their Bets

In other news, Director Jonathan Rubinstein sold 3,849 shares of the company's stock in a transaction on Friday, April 24th. The shares were sold at an average price of $260.00, for a total value of $1,000,740.00. Following the transaction, the director directly owned 78,654 shares of the company's stock, valued at approximately $20,450,040. This represents a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew R. Jassy sold 31,000 shares of the company's stock in a transaction on Friday, April 17th. The stock was sold at an average price of $255.00, for a total transaction of $7,905,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,207,118 shares in the company, valued at $562,815,090. This trade represents a 1.39% 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. Insiders sold a total of 128,035 shares of company stock valued at $28,827,479 in the last three months. Company insiders own 8.90% of the company's stock.

Trending Headlines about Amazon.com

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

• Positive Sentiment: Q1 results beat expectations — revenue and EPS topped estimates, with AWS growth accelerating to its fastest clip in quarters, validating Amazon’s AI/cloud strategy and boosting profitability outlook. Amazon beats cloud growth estimates
• Positive Sentiment: OpenAI models added to AWS Bedrock (limited preview) — expands Bedrock’s appeal to enterprise AI customers and helps AWS compete on model distribution and scale. OpenAI models on AWS Bedrock
• Positive Sentiment: Amazon disclosed a large AI chip/backlog commitment (Trainium/Graviton traction and reported chip commitments), signaling a new high‑margin revenue stream beyond cloud services. AWS chip backlog report
• Positive Sentiment: Wall Street reacted with widespread price‑target raises and buy/overweight reiterations, lifting investor conviction and providing technical/analyst support for the rally. Analyst price target hikes
• Positive Sentiment: Major cloud deals and customer wins (including multi‑year agreements) underscore durable enterprise demand for AWS capacity. Amazon signs major AWS deal
• Neutral Sentiment: Options flow spiked (large buyer interest in calls), which increases short‑term upside gamma and trading volume but can amplify intraday moves without changing fundamentals.
• Neutral Sentiment: Marketplace policy changes (seller payment overhaul) and new seller AI tools could improve monetization but may strain seller relations — impact on revenue mix is uncertain. Seller payment overhaul
• Negative Sentiment: Heavy AI capex and guidance nuance spooked some investors — management signaled sizable capex and rising memory/chip costs, which can compress near‑term margins and prompt profit‑taking despite strong revenue. CapEx concerns after Q1
• Negative Sentiment: Regulatory risk in Europe — officials signaled moves to target cloud/AI under new Big Tech rules, adding potential compliance costs and business constraints. EU targets cloud and AI
• Negative Sentiment: Insider sale disclosed (director sold shares under a 10b5‑1 plan) — routine but watched by investors and sometimes cited in short‑term trading narratives. Director share sale filing

Amazon.com Trading Up 0.8%

NASDAQ AMZN opened at $265.06 on Friday. Amazon.com, Inc. has a 1-year low of $183.85 and a 1-year high of $273.88. The company has a current ratio of 1.05, a quick ratio of 0.88 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $2.85 trillion, a PE ratio of 31.71, a price-to-earnings-growth ratio of 1.97 and a beta of 1.38. The firm's fifty day simple moving average is $223.63 and its 200-day simple moving average is $227.35.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share 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 20.87%. 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 business posted $1.59 earnings per share. Amazon.com's revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Amazon.com, Inc. will post 7.7 earnings per share for the current fiscal year.

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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