Diamant Asset Management Inc. Has $4.38 Million Stock Position in Amazon.com, Inc. $AMZN

Key Points

• Diamant Asset Management massively increased its Amazon stake in Q1, lifting its position by 23,013.2% to 210,561 shares valued at about $4.38 million.
• Wall Street remains constructive on Amazon, with several analysts raising price targets; the stock currently carries a Moderate Buy consensus and a consensus target of $312.79.
• Recent Amazon news highlights growth drivers including its Leo satellite internet network, expanding AI initiatives, and strong Prime Day shopping demand, all of which could support future revenue and margins.

Diamant Asset Management Inc. lifted its position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 23,013.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 210,561 shares of the e-commerce giant's stock after buying an additional 209,650 shares during the period. Diamant Asset Management Inc.'s holdings in Amazon.com were worth $4,385,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in AMZN. Vanguard Group Inc. raised its position in shares of Amazon.com by 1.1% during the first quarter. Vanguard Group Inc. now owns 832,274,556 shares of the e-commerce giant's stock worth $158,348,557,000 after purchasing an additional 8,913,959 shares during the period. State Street Corp grew its position in shares of Amazon.com by 1.8% in the 4th quarter. State Street Corp now owns 388,653,121 shares of the e-commerce giant's stock valued at $89,708,913,000 after purchasing an additional 6,971,680 shares during the period. Geode Capital Management LLC grew its position in shares of Amazon.com by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 225,120,994 shares of the e-commerce giant's stock valued at $51,753,622,000 after purchasing an additional 2,479,324 shares during the period. Norges Bank bought a new stake in Amazon.com during the 4th quarter worth approximately $32,868,735,000. Finally, Auto Owners Insurance Co increased its stake in 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 worth $2,272,397,000 after purchasing an additional 98,090,585 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on AMZN shares. Benchmark raised their target price on shares of Amazon.com from $275.00 to $370.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Evercore increased their price objective on shares of Amazon.com from $285.00 to $315.00 and gave the stock an "outperform" rating in a research report on Thursday, April 30th. TD Cowen restated a "buy" rating and set a $350.00 price objective on shares of Amazon.com in a report on Tuesday, May 12th. Moffett Nathanson boosted their price objective on shares of Amazon.com from $283.00 to $288.00 and gave the company a "buy" rating in a research report on Tuesday, April 7th. Finally, TD Securities raised shares of Amazon.com to a "buy" rating in a research report on Monday, April 13th. Fifty-seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Amazon.com currently has a consensus rating of "Moderate Buy" and a consensus price target of $312.79.

Insider Transactions at Amazon.com

In other Amazon.com news, CEO Andrew R. Jassy sold 20,000 shares of the business's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $263.42, for a total transaction of $5,268,400.00. Following the sale, the chief executive officer directly owned 2,205,766 shares of the company's stock, valued at $581,042,879.72. The trade was a 0.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Shelley Reynolds sold 2,363 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $262.38, for a total transaction of $620,003.94. Following the transaction, the vice president owned 119,780 shares of the company's stock, valued at approximately $31,427,876.40. This represents a 1.93% decrease in their ownership of the stock. 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. In the last ninety days, insiders sold 195,774 shares of company stock worth $51,643,704. 8.90% of the stock is owned by insiders.

Key Headlines Impacting Amazon.com

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

• Positive Sentiment: Amazon said its Leo satellite network has enough satellites to begin initial broadband service this year, opening a new growth opportunity in satellite internet. Reuters: Amazon to start initial Leo internet service this year as network nears 400 satellites
• Positive Sentiment: Amazon is expanding its AI strategy with custom device chips and broader AWS AI capabilities, which could support future margins and growth. CNBC: Amazon is designing its own AI chips for Echo, Fire TV and future devices
• Positive Sentiment: Prime Day-related reports pointed to strong online shopping demand, reinforcing confidence in Amazon’s retail momentum heading into earnings. Yahoo Finance/Reuters: Online Spending Rises 5.3% on First Day of Amazon’s Prime Day

Amazon.com Price Performance

Shares of AMZN opened at $242.67 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.18 and a debt-to-equity ratio of 0.27. Amazon.com, Inc. has a twelve month low of $196.00 and a twelve month high of $278.56. The stock has a market capitalization of $2.61 trillion, a P/E ratio of 29.03, a P/E/G ratio of 1.81 and a beta of 1.46. The company has a 50 day moving average of $254.57 and a 200-day moving average of $234.65.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 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 business had revenue of $181.52 billion for the quarter, compared to analyst estimates of $177.28 billion. During the same quarter in the previous year, the firm posted $1.59 earnings per share. The firm's revenue for the quarter was up 16.6% on a year-over-year basis. As a group, equities research analysts forecast that Amazon.com, Inc. will post 7.75 EPS 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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