Mackenzie Financial Corp Reduces Stake in Amazon.com, Inc. $AMZN

Key Points

• Mackenzie Financial Corp has reduced its stake in Amazon by 12.5%, now holding approximately 5.5 million shares which constitutes 1.5% of its portfolio.
• Insider Jeffrey P. Bezos sold over 4.2 million shares of Amazon, valued at approximately $960 million, which represents a 0.47% decrease in his ownership.
• Analysts have raised price targets for Amazon, with the consensus now set at $262.87 and numerous firms issuing a "buy" rating.

Mackenzie Financial Corp decreased its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 12.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,519,084 shares of the e-commerce giant's stock after selling 791,283 shares during the quarter. Amazon.com makes up 1.5% of Mackenzie Financial Corp's investment portfolio, making the stock its 7th biggest holding. Mackenzie Financial Corp owned approximately 0.05% of Amazon.com worth $1,050,061,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Castlekeep Investment Advisors LLC bought a new stake in shares of Amazon.com in the fourth quarter worth $25,000. Prudent Man Investment Management Inc. acquired a new position in Amazon.com in the fourth quarter valued at $27,000. LSV Asset Management acquired a new position in Amazon.com in the fourth quarter valued at $35,000. Cooksen Wealth LLC acquired a new position in Amazon.com in the first quarter valued at $36,000. Finally, Inlight Wealth Management LLC acquired a new position in Amazon.com in the first quarter valued at $40,000. Institutional investors own 72.20% of the company's stock.

Insider Activity

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of the business's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the transaction, the insider owned 897,722,088 shares in the company, valued at $201,816,902,603.28. The trade was a 0.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 25,097,911 shares of company stock worth $5,675,986,299 in the last 90 days. 9.70% of the stock is owned by insiders.

Amazon.com Trading Up 1.1%

NASDAQ:AMZN traded up $2.48 during trading hours on Thursday, reaching $231.60. The company's stock had a trading volume of 33,650,159 shares, compared to its average volume of 46,110,316. The firm has a market capitalization of $2.47 trillion, a price-to-earnings ratio of 35.30, a PEG ratio of 1.54 and a beta of 1.31. The firm has a 50-day simple moving average of $223.48 and a 200-day simple moving average of $208.13. Amazon.com, Inc. has a 1 year low of $161.38 and a 1 year high of $242.52. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 1.02.

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

Analysts Set New Price Targets

Several research firms recently issued reports on AMZN. Truist Financial boosted their target price on shares of Amazon.com from $226.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Piper Sandler upped their target price on shares of Amazon.com from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Westpark Capital reaffirmed a "buy" rating and issued a $280.00 price objective on shares of Amazon.com in a research report on Friday, August 1st. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Amazon.com in a research report on Friday, August 1st. Finally, DA Davidson increased their target price on shares of Amazon.com from $230.00 to $265.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, forty-six have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $262.87.

Amazon.com 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.