Cullinan Associates Inc. Increases Position in Amazon.com, Inc. $AMZN

Key Points

• Cullinan Associates Inc. increased its Amazon stake by 15.3% in the fourth quarter, buying 17,320 more shares and bringing its holdings to 130,713 shares worth about $30.2 million.
• Other institutions also added to AMZN, and the article notes that hedge funds and other institutional investors now own 72.20% of Amazon’s stock, signaling continued strong institutional interest.
• Amazon remains supported by upbeat fundamentals and analyst sentiment: it beat Q1 earnings and revenue estimates, while multiple firms raised price targets, with the average Wall Street target at $312.66.

Cullinan Associates Inc. raised its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 15.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,713 shares of the e-commerce giant's stock after buying an additional 17,320 shares during the period. Amazon.com comprises approximately 2.0% of Cullinan Associates Inc.'s investment portfolio, making the stock its 13th biggest position. Cullinan Associates Inc.'s holdings in Amazon.com were worth $30,171,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of AMZN. Brighton Jones LLC boosted its position in shares of 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 valued at $885,478,000 after buying an additional 397,007 shares during the period. Revolve Wealth Partners LLC boosted its holdings in shares of 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 period. Bank Pictet & Cie Europe AG boosted its holdings in shares of 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 period. Highview Capital Management LLC DE boosted its holdings in shares of 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 period. Finally, Liberty Square Wealth Partners LLC purchased a new stake in shares of Amazon.com in the fourth quarter valued at approximately $2,153,000. Hedge funds and other institutional investors own 72.20% of the company's stock.

Key Stories Impacting Amazon.com

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%

Amazon.com stock opened at $266.32 on Friday. The business has a fifty day moving average of $239.50 and a two-hundred day moving average of $231.86. 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 P/E/G ratio of 1.99 and a beta of 1.46. Amazon.com, Inc. has a twelve month low of $196.00 and a twelve month high of $278.56.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its 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. The company had revenue of $181.52 billion during the quarter, compared to analyst estimates of $177.28 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.Amazon.com's revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.59 earnings per share. On average, analysts forecast that Amazon.com, Inc. will post 7.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Matthew S. Garman sold 17,751 shares of the company's stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $205.22, for a total value of $3,642,860.22. Following the transaction, the chief executive officer directly owned 9,405 shares of the company's stock, valued at $1,930,094.10. This represents a 65.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP David Zapolsky sold 10,649 shares of the company's stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $205.43, for a total value of $2,187,624.07. Following the completion of the transaction, the senior vice president directly owned 41,190 shares in the company, valued at approximately $8,461,661.70. The trade was a 20.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 201,026 shares of company stock valued at $49,128,874. Company insiders own 8.90% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AMZN. HSBC boosted their price target on Amazon.com from $280.00 to $310.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Roth Mkm boosted their price target on Amazon.com from $285.00 to $300.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Citigroup reiterated a "buy" rating and issued a $325.00 price target (up from $285.00) on shares of Amazon.com in a report on Thursday, April 30th. China Renaissance boosted their price target on Amazon.com from $300.00 to $326.00 and gave the company a "buy" rating in a report on Tuesday, May 5th. Finally, Wedbush lowered their price target on Amazon.com from $340.00 to $300.00 and set an "outperform" rating for the company in a report on Friday, February 6th. Fifty-seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $312.66.

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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