Drake & Associates LLC Has $2.48 Million Stake in Amazon.com, Inc. $AMZN

Key Points

• Drake & Associates LLC cut its Amazon position by 21.3% in the fourth quarter, selling 2,898 shares and ending with 10,730 shares worth about $2.48 million.
• Despite the trim, Amazon remains heavily held by institutions, with major investors like Vanguard, State Street, and Geode all adding shares; overall, institutional ownership stands at 72.20%.
• Analysts remain bullish on Amazon thanks to its AI and AWS growth story, while recent headlines also point to potential new revenue from Trainium chips and continued Prime Day/e-commerce momentum.

Drake & Associates LLC trimmed its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 21.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,730 shares of the e-commerce giant's stock after selling 2,898 shares during the quarter. Amazon.com comprises about 0.5% of Drake & Associates LLC's portfolio, making the stock its 22nd biggest position. Drake & Associates LLC's holdings in Amazon.com were worth $2,477,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Amazon.com by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 832,274,556 shares of the e-commerce giant's stock valued at $158,348,557,000 after acquiring an additional 8,913,959 shares during the period. State Street Corp grew its holdings in Amazon.com by 1.8% in the fourth quarter. State Street Corp now owns 388,653,121 shares of the e-commerce giant's stock worth $89,708,913,000 after purchasing an additional 6,971,680 shares during the period. Geode Capital Management LLC grew its holdings in Amazon.com by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 225,120,994 shares of the e-commerce giant's stock worth $51,753,622,000 after purchasing an additional 2,479,324 shares during the period. Norges Bank bought a new stake in Amazon.com in the fourth quarter valued at $32,868,735,000. Finally, Northern Trust Corp increased its stake in 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 purchasing an additional 302,858 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Amazon.com News Summary

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

• Positive Sentiment: Analysts are increasingly bullish on Amazon’s AI and cloud positioning, with multiple firms reiterating Buy ratings and highlighting AWS as a long-term growth driver. Brian Pitz Reiterates Amazon as Top Pick, Maintains Buy Rating and $355 Price Target on Strengthening AI and Cloud Positioning
• Positive Sentiment: Amazon is reportedly exploring sales of its Trainium AI chips to external data center customers, which could open a new revenue stream and deepen its challenge to Nvidia. Amazon exploring selling its custom AI chips to data center customers
• Positive Sentiment: Prime Day is approaching, and Bank of America expects the event to drive strong sales while boosting adoption of Amazon’s AI shopping tools, including Alexa for Shopping. Bank of America Lays Out Expectations Ahead of Amazon Stock’s Prime Day
• Positive Sentiment: Amazon is investing more than €10 billion to expand its European fulfillment network, signaling continued support for e-commerce capacity and logistics efficiency. Amazon Commits €10 Billion for European fulfillment network
• Neutral Sentiment: Amazon is facing EU scrutiny over whether AWS should be classified as a “gatekeeper” under the Digital Markets Act, which could increase regulatory oversight for the cloud unit. Microsoft and Amazon Face EU Digital Markets Act Scrutiny Over Cloud Dominance
• Neutral Sentiment: Amazon MGM Studios dropped the nearly finished OpenAI film “Artificial” after the companies’ broader partnership shift, a move with limited direct financial impact but notable signaling value. Luca Guadagnino’s Sam Altman, OpenAI Film ‘Artificial’ Dropped by Amazon MGM Studios
• Negative Sentiment: Amazon is also dealing with employee and public scrutiny over AI data center expansion and labor practices, which could add regulatory and reputational pressure. Amazon investigating engineers who criticized AI data center expansion

Analysts Set New Price Targets

A number of research firms have recently issued reports on AMZN. Wells Fargo & Company set a $312.00 price objective on shares of Amazon.com and gave the stock an "overweight" rating in a research report on Wednesday, May 20th. JPMorgan Chase & Co. boosted their target price on Amazon.com from $280.00 to $330.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Robert W. Baird upped their price target on Amazon.com from $285.00 to $300.00 and gave the stock an "outperform" rating in a research note on Thursday, April 30th. BMO Capital Markets increased their price target on Amazon.com from $310.00 to $315.00 and gave the stock an "outperform" rating in a report on Thursday, April 23rd. Finally, Citizens Jmp reissued a "market outperform" rating and issued a $315.00 price objective on shares of Amazon.com in a research note on Friday, April 10th. Fifty-seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $312.78.

Amazon.com Stock Performance

Shares of AMZN opened at $244.39 on Friday. The business's 50-day moving average price is $256.51 and its 200-day moving average price is $234.12. Amazon.com, Inc. has a twelve month low of $196.00 and a twelve month high of $278.56. The stock has a market cap of $2.63 trillion, a PE ratio of 29.23, a P/E/G ratio of 1.83 and a beta of 1.44. 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 (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $1.15. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The company had revenue of $181.52 billion for the quarter, compared to analysts' expectations of $177.28 billion. During the same period last year, the firm posted $1.59 EPS. Amazon.com's revenue for the quarter was up 16.6% compared to the same quarter last year. On average, equities analysts forecast that Amazon.com, Inc. will post 7.71 EPS for the current fiscal year.

Insider Activity

In other Amazon.com news, SVP David Zapolsky sold 9,270 shares of the business's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $268.53, for a total transaction of $2,489,273.10. Following the completion of the sale, the senior vice president directly owned 41,190 shares in the company, valued at $11,060,750.70. The trade was a 18.37% decrease in their position. The transaction 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 Matthew S. Garman sold 15,467 shares of the company's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $263.40, for a total transaction of $4,074,007.80. Following the sale, the chief executive officer directly owned 14,159 shares of the company's stock, valued at $3,729,480.60. The trade was a 52.21% 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. In the last quarter, insiders have sold 195,774 shares of company stock worth $51,614,434. 8.90% of the stock is currently owned by company insiders.

Amazon.com Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.