Income Insurance Ltd Buys New Position in Amazon.com, Inc. $AMZN

Key Points

• Income Insurance Ltd opened a new position in Amazon during the fourth quarter, buying 29,241 shares worth about $6.75 million. The stake now makes up 4.4% of its portfolio, ranking as its fifth-largest holding.
• Amazon shares remain supported by strong analyst sentiment, with several firms raising price targets and the stock carrying a Moderate Buy consensus and a target price around $312.52.
• Recent headlines were mixed: positive catalysts include Amazon’s four-day Prime Day and added Alexa AI features, while negatives include an EU cloud review, a Ring privacy lawsuit, and notable insider selling.

Income Insurance Ltd bought a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 29,241 shares of the e-commerce giant's stock, valued at approximately $6,749,000. Amazon.com accounts for 4.4% of Income Insurance Ltd's portfolio, making the stock its 5th biggest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fairway Wealth LLC boosted its holdings in Amazon.com by 113.2% during the 3rd quarter. Fairway Wealth LLC now owns 113 shares of the e-commerce giant's stock valued at $25,000 after acquiring an additional 60 shares during the period. Sellwood Investment Partners LLC acquired a new stake in shares of Amazon.com in the third quarter valued at $27,000. MilWealth Group LLC raised its stake in shares of Amazon.com by 79.0% in the fourth quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant's stock valued at $41,000 after acquiring an additional 79 shares in the last quarter. Bridge Generations Wealth Management LLC boosted its holdings in Amazon.com by 2,330.0% in the third quarter. Bridge Generations Wealth Management LLC now owns 243 shares of the e-commerce giant's stock valued at $53,000 after purchasing an additional 233 shares during the period. Finally, Cooksen Wealth LLC boosted its holdings in Amazon.com by 23.5% in the second quarter. Cooksen Wealth LLC now owns 247 shares of the e-commerce giant's stock valued at $54,000 after purchasing an additional 47 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting 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

Amazon.com Stock Down 1.8%

Amazon.com stock opened at $256.52 on Wednesday. Amazon.com, Inc. has a 1-year low of $196.00 and a 1-year high of $278.56. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.01. The stock has a market cap of $2.76 trillion, a PE ratio of 30.68, a P/E/G ratio of 1.96 and a beta of 1.44. The stock's fifty day moving average is $246.43 and its two-hundred day moving average is $232.58.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly 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 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 earned $1.59 earnings per share. Amazon.com's quarterly revenue was up 16.6% on a year-over-year basis. On average, sell-side analysts expect that Amazon.com, Inc. will post 7.71 EPS for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other news, CEO Matthew S. Garman sold 15,467 shares of Amazon.com stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $263.40, for a total transaction of $4,074,007.80. Following the sale, the chief executive officer owned 14,159 shares in the company, valued at approximately $3,729,480.60. The trade was a 52.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 6,370 shares of Amazon.com stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $262.39, for a total value of $1,671,424.30. Following the sale, the chief executive officer owned 486,527 shares in the company, valued at $127,659,819.53. This trade represents a 1.29% 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 three months, insiders have sold 194,774 shares of company stock valued at $51,348,244. 8.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AMZN shares. Oppenheimer upped their price target on Amazon.com from $275.00 to $320.00 and gave the stock an "outperform" rating in a report on Thursday, April 30th. Jefferies Financial Group reissued a "market outperform" rating on shares of Amazon.com in a research report on Monday. The Goldman Sachs Group restated a "buy" rating and set a $325.00 target price (up from $275.00) on shares of Amazon.com in a research note on Thursday, April 30th. Moffett Nathanson raised their target price on shares of Amazon.com from $283.00 to $288.00 and gave the company a "buy" rating in a report on Tuesday, April 7th. Finally, Canaccord Genuity Group lifted their price target on shares of Amazon.com from $300.00 to $330.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Fifty-seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $312.52.

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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