Drive Wealth Management LLC Acquires 2,177 Shares of Amazon.com, Inc. $AMZN

Key Points

• Drive Wealth Management LLC increased its Amazon stake by 5.7% in the fourth quarter, buying 2,177 additional shares and bringing its total holding to 40,204 shares worth about $9.28 million.
• Amazon continues to attract strong Wall Street support, with 57 analysts rating it a Buy and a consensus price target of $312.52; several firms recently reiterated bullish ratings and raised targets to as high as $320.
• The company reported better-than-expected quarterly results, posting EPS of $2.78 versus the $1.63 estimate and revenue of $181.52 billion, while also facing mixed headlines around Prime Day, AI initiatives, and regulatory/privacy scrutiny.

Drive Wealth Management LLC lifted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 5.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,204 shares of the e-commerce giant's stock after acquiring an additional 2,177 shares during the period. Amazon.com makes up 1.8% of Drive Wealth Management LLC's holdings, making the stock its 11th biggest holding. Drive Wealth Management LLC's holdings in Amazon.com were worth $9,280,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. American Capital Advisory LLC increased its position in shares of Amazon.com by 63.9% during the third quarter. American Capital Advisory LLC now owns 8,081 shares of the e-commerce giant's stock worth $1,774,000 after acquiring an additional 3,152 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new stake in Amazon.com in the 3rd quarter worth about $451,642,000. Narwhal Capital Management grew its position in Amazon.com by 2.3% in the 4th quarter. Narwhal Capital Management now owns 216,606 shares of the e-commerce giant's stock worth $49,997,000 after purchasing an additional 4,854 shares in the last quarter. Weaver Capital Management LLC grew its position in Amazon.com by 13.6% in the 4th quarter. Weaver Capital Management LLC now owns 39,264 shares of the e-commerce giant's stock worth $9,063,000 after purchasing an additional 4,713 shares in the last quarter. Finally, Ethos Financial Group LLC grew its position in Amazon.com by 9.6% in the 4th quarter. Ethos Financial Group LLC now owns 36,485 shares of the e-commerce giant's stock worth $8,421,000 after purchasing an additional 3,196 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

Trending Headlines about Amazon.com

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

• Positive Sentiment: Amazon moved Prime Day to June 23-26 and kept it a four-day event, which could lift near-term e-commerce sales and membership engagement. Reuters Prime Day article
• Positive Sentiment: The event will include new Alexa AI features, reinforcing Amazon’s AI strategy and potentially improving shopping conversion. Forbes article on Alexa AI-powered Prime Day
• Positive Sentiment: Analyst commentary remained constructive, with bullish Wall Street coverage and price-target increases helping support the stock. Zacks analyst article
• Neutral Sentiment: Amazon’s cloud and AI businesses continue to draw attention, including reports that AWS is expanding AI-related investment and that its Anthropic stake has become far more valuable. Business Insider article on Anthropic stake
• Negative Sentiment: Amazon faces fresh regulatory and legal pressure, including an EU cloud procurement review that could make it harder for AWS to win certain government contracts. Reuters EU cloud rules article
• Negative Sentiment: Amazon’s Ring unit was hit with a class-action privacy lawsuit over facial recognition features, adding to ongoing data-privacy scrutiny. Reuters Ring lawsuit article
• Negative Sentiment: Investor sentiment may also be weighed by a report that Stanley Druckenmiller sharply reduced his Amazon position, which can be read as a cautious signal from a high-profile fund manager. Motley Fool Druckenmiller article

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Pivotal Research reaffirmed a "buy" rating and issued a $320.00 price objective (up from $300.00) on shares of Amazon.com in a research report on Thursday, April 30th. Royal Bank Of Canada set a $320.00 price objective on shares of Amazon.com and gave the stock an "outperform" rating in a research report on Thursday, April 30th. Wolfe Research reaffirmed an "outperform" rating and issued a $320.00 price objective (up from $245.00) on shares of Amazon.com in a research report on Thursday, April 30th. William Blair reaffirmed an "outperform" rating on shares of Amazon.com in a research report on Thursday, April 9th. Finally, Robert W. Baird upped their price objective on shares of Amazon.com from $285.00 to $300.00 and gave the stock an "outperform" rating in a research report on Thursday, April 30th. Fifty-seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Amazon.com presently has an average rating of "Moderate Buy" and an average price target of $312.52.

Insider Activity at Amazon.com

In other news, CEO Matthew S. Garman sold 15,467 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer directly owned 14,159 shares of the company's stock, valued at $3,729,480.60. This represents a 52.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew R. Jassy sold 31,352 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $275.00, for a total transaction of $8,621,800.00. Following the transaction, the chief executive officer directly owned 2,175,766 shares of the company's stock, valued at $598,335,650. This represents a 1.42% 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. Insiders sold 194,774 shares of company stock valued at $51,348,244 over the last quarter. 8.90% of the stock is currently owned by insiders.

Amazon.com Stock Down 1.8%

Amazon.com stock opened at $256.52 on Wednesday. Amazon.com, Inc. has a twelve month low of $196.00 and a twelve month high of $278.56. The firm has a 50 day moving average price of $246.43 and a 200-day moving average price of $232.58. The company has a market capitalization of $2.76 trillion, a P/E ratio of 30.68, a P/E/G ratio of 1.96 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 released its earnings results 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 net margin of 12.22% and a return on equity of 19.92%. The firm had revenue of $181.52 billion during the quarter, compared to the consensus estimate of $177.28 billion. During the same period in the prior year, the firm earned $1.59 EPS. The company's revenue was up 16.6% compared to the same quarter last year. As a group, equities analysts predict that Amazon.com, Inc. will post 7.71 EPS for the current year.

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.

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