Jennison Associates LLC Decreases Position in Amazon.com, Inc. $AMZN

Key Points

• Jennison Associates LLC trimmed its Amazon stake by 1.9% in the fourth quarter, selling 829,893 shares. It still holds 43.4 million shares, making Amazon its third-largest position and about 6% of its portfolio.
• Wall Street remains broadly bullish on AMZN, with multiple analysts lifting price targets to the $320-$325 range. MarketBeat says the stock has an average rating of “Moderate Buy” and a consensus price target of $312.66.
• Amazon’s recent results topped expectations, with quarterly EPS of $2.78 versus $1.63 expected and revenue of $181.52 billion versus $177.28 billion expected. The company also reported 16.6% year-over-year revenue growth, underscoring continued business momentum.

Jennison Associates LLC lowered its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 1.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,437,204 shares of the e-commerce giant's stock after selling 829,893 shares during the quarter. Amazon.com comprises 6.0% of Jennison Associates LLC's portfolio, making the stock its 3rd biggest holding. Jennison Associates LLC owned 0.41% of Amazon.com worth $10,026,175,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. American Capital Advisory LLC grew 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 purchasing an additional 3,152 shares in the last quarter. Compagnie Lombard Odier SCmA purchased a new stake in shares of Amazon.com during the third quarter worth about $451,642,000. Narwhal Capital Management grew its position in shares of Amazon.com by 2.3% during the fourth 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 shares of Amazon.com by 13.6% during the fourth 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 shares of Amazon.com by 9.6% during the fourth 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. Institutional investors own 72.20% of the company's stock.

Analysts Set New Price Targets

AMZN has been the subject of several research analyst reports. Scotiabank reiterated an "outperform" rating and set a $325.00 target price (up from $275.00) on shares of Amazon.com in a research report on Thursday, April 30th. DZ Bank raised their price target on Amazon.com from $295.00 to $320.00 and gave the company a "buy" rating in a report on Monday, May 4th. Jefferies Financial Group restated a "buy" rating on shares of Amazon.com in a report on Monday, May 4th. Wolfe Research restated an "outperform" rating and set a $320.00 price target (up from $245.00) on shares of Amazon.com in a report on Thursday, April 30th. Finally, Mizuho raised their price target on Amazon.com from $315.00 to $325.00 and gave the company an "outperform" rating in a report on Tuesday, April 28th. 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.com, the company has an average rating of "Moderate Buy" and an average price target of $312.66.

Amazon.com Price Performance

Shares of Amazon.com stock opened at $266.32 on Friday. The stock has a market cap of $2.86 trillion, a price-to-earnings ratio of 31.86, a price-to-earnings-growth ratio of 2.01 and a beta of 1.46. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.18. The stock has a 50 day moving average price of $239.50 and a 200-day moving average price of $231.86. Amazon.com, Inc. has a one year low of $196.00 and a one year high of $278.56.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $1.15. The firm had revenue of $181.52 billion during the quarter, compared to analysts' expectations of $177.28 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The company's quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.59 EPS. Equities analysts expect that Amazon.com, Inc. will post 7.71 EPS for the current year.

Trending Headlines about Amazon.com

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

• Positive Sentiment: Bank of America reiterated a Buy rating and raised its price target to $310, saying Amazon’s AI-powered shopping tools could help defend and expand its retail franchise. BofA Pounds the Table on Amazon (AMZN) Stock, Sets $310 Price Target
• Positive Sentiment: Analysts and market commentary highlighted Amazon’s breakout above key technical levels and said the stock remains in a bullish setup, which can attract momentum buyers. Amazon (AMZN) Recently Broke Out Above the 20-Day Moving Average
• Positive Sentiment: Recent coverage from multiple outlets pointed to Amazon’s AI initiatives, including Alexa for Shopping, as a potential long-term growth driver for retail and advertising. Amazon's Alexa for Shopping seen driving long-term retail growth
• Positive Sentiment: Jeff Bezos and other supporters defended heavy AI spending, and Bill Ackman reportedly added to Amazon, reinforcing the idea that major investors still see upside in the stock. Billionaire Bill Ackman Piled Into Amazon and Microsoft and Slashed His Fund's Mammoth Stake in This AI Kingpin by 95%
• Neutral Sentiment: Amazon shareholders re-elected the board and approved the existing pay and governance framework, signaling continuity rather than a major corporate change. Amazon Shareholders Back Board, Pay and Governance Status Quo
• Negative Sentiment: Amazon also faced fresh criticism from U.K. lawmakers over delivery practices, which could add regulatory pressure to the company’s logistics and marketplace operations. Amazon (AMZN) Hit with New Accusation From U.K. Lawmakers

Insider Buying and Selling

In other news, SVP David Zapolsky sold 10,649 shares of Amazon.com stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $205.43, for a total value of $2,187,624.07. Following the completion of the transaction, the senior vice president owned 41,190 shares in the company, valued at approximately $8,461,661.70. The trade was a 20.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas J. Herrington sold 27,500 shares of Amazon.com stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $275.00, for a total value of $7,562,500.00. Following the completion of the transaction, the chief executive officer owned 471,361 shares of the company's stock, valued at approximately $129,624,275. This trade represents a 5.51% 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 have sold a total of 201,026 shares of company stock worth $49,128,874 in the last 90 days. Company insiders own 8.90% of the company's stock.

Amazon.com 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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