Great Lakes Advisors LLC Buys Shares of 2,187,677 Amazon.com, Inc. $AMZN

Great Lakes Advisors LLC purchased a new position in Amazon.com, Inc. (NASDAQ:AMZN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,187,677 shares of the e-commerce giant's stock, valued at approximately $521,412,000. Amazon.com comprises 4.0% of Great Lakes Advisors LLC's holdings, making the stock its largest position.

Several other large investors also recently modified their holdings of AMZN. Longfellow Investment Management Co. LLC purchased a new position in Amazon.com in the second quarter worth about $33,000. MilWealth Group LLC increased 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 during the last quarter. Lifetime Wealth Management P.C. purchased a new stake in shares of Amazon.com during the 4th quarter valued at about $45,000. Prudent Man Investment Management Inc. lifted its stake in shares of Amazon.com by 87.7% in the 4th quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant's stock worth $53,000 after purchasing an additional 107 shares during the period. Finally, Strategic Wealth Advisors LLC purchased a new position in shares of Amazon.com in the fourth quarter worth approximately $68,000. Institutional investors own 72.20% of the company's stock.

Key Stories Impacting Amazon.com

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

• Positive Sentiment: Amazon’s advertising business is expanding beyond its own properties through a pilot partnership that lets select advertisers extend Amazon campaigns into ChatGPT. The initiative could broaden Amazon DSP’s reach and create a new revenue channel, although financial terms remain undisclosed. Amazon Is Becoming a Gateway to ChatGPT Ads
• Positive Sentiment: Zoox is entering San Francisco’s robotaxi market, increasing Amazon’s exposure to autonomous transportation and creating potential long-term upside if the service scales successfully. Amazon’s Zoox Enters San Francisco’s Crowded Robotaxi Market
• Positive Sentiment: Amazon completed a £4.242 billion sterling-denominated senior debt offering, supporting its U.K. operations and broader funding needs. The issuance improves liquidity flexibility but also adds to the company’s debt load. Amazon Boosts UK Presence With Sterling Debt Offering

Amazon.com Stock Performance

Shares of NASDAQ AMZN opened at $253.54 on Tuesday. The company has a market cap of $2.73 trillion, a P/E ratio of 20.40, a P/E/G ratio of 1.98 and a beta of 1.44. Amazon.com, Inc. has a 52-week low of $196.00 and a 52-week high of $287.20. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.87 and a current ratio of 1.03. The firm's fifty day moving average is $255.75 and its two-hundred day moving average is $244.72.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The e-commerce giant reported $5.75 EPS for the quarter, beating the consensus estimate of $1.82 by $3.93. The business had revenue of $200.61 billion during the quarter, compared to the consensus estimate of $197.03 billion. Amazon.com had a net margin of 17.44% and a return on equity of 18.00%. The business's revenue was up 19.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.68 EPS. As a group, analysts anticipate that Amazon.com, Inc. will post 8.05 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Andrew R. Jassy sold 20,000 shares of the company's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $259.01, for a total transaction of $5,180,200.00. Following the sale, the chief executive officer directly owned 2,235,766 shares of the company's stock, valued at $579,085,751.66. This represents a 0.89% decrease in their position. The sale 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, SVP David Zapolsky sold 9,258 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $259.77, for a total transaction of $2,404,950.66. Following the transaction, the senior vice president owned 41,190 shares of the company's stock, valued at $10,699,926.30. This trade represents a 18.35% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 71,589 shares of company stock valued at $18,568,785 in the last ninety days. Company insiders own 8.90% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Evercore set a $355.00 price target on shares of Amazon.com and gave the stock an "outperform" rating in a research report on Friday, August 28th. Jefferies Financial Group reissued a "buy" rating on shares of Amazon.com in a research report on Thursday, June 18th. Roth Capital reaffirmed a "buy" rating and issued a $325.00 target price on shares of Amazon.com in a report on Monday, August 3rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Amazon.com in a report on Monday, August 3rd. Finally, Pivotal Research reiterated a "buy" rating and set a $333.00 target price (up from $320.00) on shares of Amazon.com in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, fifty-six have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $323.26.

About Amazon.com

Amazon.com, Inc is a global technology and e-commerce company that operates online marketplaces and provides a broad range of consumer products and services. Its retail business sells merchandise directly to customers and enables third-party sellers to offer products through Amazon's websites and applications. The company also operates physical stores and provides services such as digital content, subscriptions, and consumer devices, including Kindle and Echo products.

Amazon Web Services (AWS) provides cloud computing, storage, database, analytics, artificial intelligence, machine learning, and other technology services to businesses, governments, and organizations.

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