Davis Investment Partners LLC Sells 2,657 Shares of Amazon.com, Inc. $AMZN

Key Points

• Davis Investment Partners LLC reduced its Amazon stake by 37% in the first quarter, selling 2,657 shares and ending with 4,529 shares valued at about $943,000.
• Amazon reported strong quarterly results, with EPS of $2.78 and revenue of $181.52 billion, both ahead of analyst expectations. Revenue also rose 16.6% year over year.
• Despite some insider selling and legal overhangs, Wall Street remains bullish on AMZN, with 57 analysts rating it a Buy or equivalent and a consensus price target of $312.78.

Davis Investment Partners LLC cut its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 37.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,529 shares of the e-commerce giant's stock after selling 2,657 shares during the quarter. Davis Investment Partners LLC's holdings in Amazon.com were worth $943,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. MilWealth Group LLC boosted its position in shares of Amazon.com by 79.0% during the 4th quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant's stock valued at $41,000 after purchasing an additional 79 shares in the last quarter. Lifetime Wealth Management P.C. bought a new stake in Amazon.com in the fourth quarter worth approximately $45,000. Elkhorn Partners Limited Partnership lifted its stake in Amazon.com by 900.0% in the fourth quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant's stock valued at $46,000 after buying an additional 180 shares during the period. Fairway Wealth LLC lifted its stake in Amazon.com by 95.6% in the fourth quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant's stock valued at $51,000 after buying an additional 108 shares during the period. Finally, Prudent Man Investment Management Inc. boosted its holdings in shares of Amazon.com by 87.7% during the 4th quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant's stock worth $53,000 after buying an additional 107 shares in the last quarter. Institutional investors own 72.20% of the company's stock.

Amazon.com Stock Performance

AMZN opened at $238.51 on Wednesday. Amazon.com, Inc. has a 1-year low of $196.00 and a 1-year high of $278.56. The company has a market cap of $2.57 trillion, a price-to-earnings ratio of 28.53, a PEG ratio of 1.80 and a beta of 1.44. The company's fifty day moving average price is $255.10 and its two-hundred day moving average price is $234.31. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $1.15. The firm 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%. The business's revenue was up 16.6% on a year-over-year basis. During the same period last year, the company earned $1.59 earnings per share. On average, analysts expect that Amazon.com, Inc. will post 7.71 EPS for the current fiscal year.

Trending Headlines about Amazon.com

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

• Positive Sentiment: AWS launched a new $1 billion Forward Deployed Engineering unit to place AI engineers inside customer organizations, which could accelerate enterprise AI adoption and drive more cloud spending. AWS puts $1 billion into new AI unit to embed engineers with customers, joining growing wave
• Positive Sentiment: A Jefferies survey suggested cloud budgets are still rising, with 95% of IT executives planning higher cloud spending in 2026 and AWS seen as a key beneficiary, easing worries that Amazon is overinvesting in AI infrastructure. Amazon Could Be About to Reap the Rewards of a Software Spending Boom
• Positive Sentiment: Prime Day demand looked strong, with reports pointing to record online spending, which supports Amazon’s retail growth and membership engagement. Amazon Stock Surges 4%: Record $26.4 Billion Prime Day Blowout Crushes Wall Street Estimates
• Positive Sentiment: Amazon extended summer savings for Prime members, including fuel and grocery discounts, which may help boost Prime loyalty and shopping activity. From the Gas Pump to the Grill: Prime Introduces Summer Savings Just in Time for the Fourth of July
• Neutral Sentiment: Analyst commentary remains generally bullish, with some firms reiterating buy ratings and high price targets, reinforcing a constructive long-term outlook for AMZN.
• Negative Sentiment: Amazon agreed to pay $2.25 million to settle an FTC case and now faces an Australian lawsuit over Prime Video ads, adding fresh legal overhang. Australia sues Amazon unit over alleged breach via Prime Video ads
• Negative Sentiment: Broader market sentiment toward megacap AI stocks has weakened as investors question heavy AI spending and valuations, which has pressured Amazon alongside other Magnificent Seven names. Investors are abandoning Mag7 stocks as AI boom transforms

Insider Buying and Selling at Amazon.com

In other news, CEO Douglas J. Herrington sold 27,500 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $275.00, for a total value of $7,562,500.00. Following the completion of the sale, the chief executive officer directly owned 471,361 shares of the company's stock, valued at $129,624,275. This represents a 5.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 shares were sold at an average price of $275.00, for a total value of $8,621,800.00. Following the completion of the transaction, the chief executive officer owned 2,175,766 shares in the company, valued at $598,335,650. This 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 sold a total of 194,774 shares of company stock worth $51,403,934 in the last quarter. 8.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on AMZN shares. Bank of America raised their price objective on shares of Amazon.com from $298.00 to $310.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. William Blair reissued an "outperform" rating on shares of Amazon.com in a research note on Thursday, April 9th. JPMorgan Chase & Co. restated a "buy" rating on shares of Amazon.com in a report on Friday, June 26th. BNP Paribas Exane lifted their price target on shares of Amazon.com from $320.00 to $345.00 and gave the company an "outperform" rating in a research note on Tuesday, May 5th. Finally, Pivotal Research reiterated a "buy" rating and set a $320.00 price objective (up from $300.00) on shares of Amazon.com in a report on Thursday, April 30th. Fifty-seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $312.78.

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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