Eastern Bank Reduces Position in Amazon.com, Inc. $AMZN

Key Points

• Eastern Bank reduced its position in Amazon.com by 3.4%, selling over 25,000 shares, which now account for approximately 2.7% of its total holdings.
• Several institutional investors, including Perritt Capital Management Inc., raised or initiated positions in Amazon.com, highlighting a significant interest in the e-commerce giant.
• Analysts have set a consensus target price of $262.87 for Amazon, with most rating the stock as a Buy, demonstrating strong confidence in the company's future performance.

Eastern Bank decreased its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 714,142 shares of the e-commerce giant's stock after selling 25,098 shares during the quarter. Amazon.com makes up about 2.7% of Eastern Bank's investment portfolio, making the stock its 6th largest position. Eastern Bank's holdings in Amazon.com were worth $135,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of the stock. LSV Asset Management bought a new position in Amazon.com in the 4th quarter valued at $35,000. Perritt Capital Management Inc raised its position in Amazon.com by 72.7% in the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock valued at $42,000 after purchasing an additional 80 shares during the last quarter. Cooksen Wealth LLC bought a new position in Amazon.com in the 1st quarter valued at $36,000. Inlight Wealth Management LLC bought a new position in Amazon.com in the 1st quarter valued at $40,000. Finally, Capitol Family Office Inc. bought a new position in Amazon.com in the 1st quarter valued at $42,000. Institutional investors and hedge funds own 72.20% of the company's stock.

Insider Transactions at Amazon.com

In other news, insider Jeffrey P. Bezos sold 4,273,237 shares of the company's stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the completion of the transaction, the insider directly owned 897,722,088 shares of the company's stock, valued at $201,816,902,603.28. This represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 25,095,411 shares of company stock valued at $5,675,473,849 over the last ninety days. 10.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AMZN. Deutsche Bank Aktiengesellschaft boosted their target price on Amazon.com from $230.00 to $266.00 in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. boosted their target price on Amazon.com from $255.00 to $265.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Susquehanna boosted their target price on Amazon.com from $225.00 to $260.00 and gave the stock a "positive" rating in a research report on Friday, August 1st. Wells Fargo & Company boosted their target price on Amazon.com from $238.00 to $245.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Amazon.com in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, forty-six have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $262.87.

Amazon.com Trading Down 1.6%

Shares of Amazon.com stock traded down $3.66 during trading on Tuesday, reaching $225.34. 38,732,076 shares of the company were exchanged, compared to its average volume of 33,878,940. Amazon.com, Inc. has a twelve month low of $161.38 and a twelve month high of $242.52. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $2.40 trillion, a price-to-earnings ratio of 34.35, a P/E/G ratio of 1.54 and a beta of 1.30. The business has a 50-day moving average price of $224.91 and a 200-day moving average price of $207.92.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.37. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%.The firm had revenue of $167.70 billion during the quarter, compared to analysts' expectations of $161.80 billion. During the same period in the previous year, the firm earned $1.26 earnings per share. The company's revenue was up 13.3% on a year-over-year basis. Amazon.com has set its Q3 2025 guidance at EPS. Sell-side analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Amazon.com Company Profile

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.