Magellan Asset Management Ltd Sells 191,320 Shares of Amazon.com, Inc. $AMZN

Key Points

• Magellan Asset Management Ltd sold 191,320 shares of Amazon.com, Inc., reducing its holdings by 5.9%, and now owns 3,028,622 shares valued at approximately $576.2 million.
• Institutional investors collectively hold 72.20% of Amazon's stock, indicating significant institutional involvement in the company.
• Several analysts have raised their price targets for Amazon.com, with a consensus target price now at $262.87, reflecting optimism in Amazon's performance and growth prospects.

Magellan Asset Management Ltd decreased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 5.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,028,622 shares of the e-commerce giant's stock after selling 191,320 shares during the quarter. Amazon.com comprises approximately 7.0% of Magellan Asset Management Ltd's holdings, making the stock its 2nd biggest holding. Magellan Asset Management Ltd's holdings in Amazon.com were worth $576,226,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of Amazon.com by 10.9% in the 4th quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant's stock valued at $885,478,000 after purchasing an additional 397,007 shares in the last quarter. Revolve Wealth Partners LLC grew its position in shares of Amazon.com by 4.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant's stock valued at $5,495,000 after buying an additional 986 shares during the last quarter. Bank Pictet & Cie Europe AG grew its position in Amazon.com by 2.8% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant's stock worth $442,481,000 after purchasing an additional 54,987 shares during the last quarter. Highview Capital Management LLC DE grew its position in Amazon.com by 5.5% in the 4th quarter. Highview Capital Management LLC DE now owns 28,975 shares of the e-commerce giant's stock worth $6,357,000 after purchasing an additional 1,518 shares during the last quarter. Finally, Liberty Square Wealth Partners LLC bought a new position in shares of Amazon.com in the fourth quarter valued at approximately $2,153,000. Institutional investors and hedge funds own 72.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AMZN shares. Susquehanna increased their price objective on shares of Amazon.com from $225.00 to $260.00 and gave the company a "positive" rating in a report on Friday, August 1st. HSBC increased their price target on shares of Amazon.com from $240.00 to $256.00 in a research note on Tuesday, July 22nd. Citigroup reiterated an "overweight" rating on shares of Amazon.com in a research note on Wednesday, August 13th. Westpark Capital reiterated a "buy" rating and issued a $280.00 target price on shares of Amazon.com in a research note on Friday, August 1st. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Amazon.com from $230.00 to $266.00 in a research report on Tuesday, July 22nd. 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. According to data from MarketBeat.com, Amazon.com has an average rating of "Buy" and a consensus target price of $262.87.

Insider Activity at Amazon.com

In other news, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $223.49, for a total transaction of $558,725.00. Following the completion of the sale, the chief executive officer owned 518,007 shares in the company, valued at $115,769,384.43. The trade was a 0.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Brian T. Olsavsky sold 17,750 shares of Amazon.com stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $222.74, for a total transaction of $3,953,635.00. Following the sale, the chief financial officer owned 49,000 shares of the company's stock, valued at approximately $10,914,260. This represents a 26.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,097,911 shares of company stock worth $5,676,032,574 over the last 90 days. Insiders own 10.80% of the company's stock.

Amazon.com Stock Up 1.5%

Shares of NASDAQ:AMZN opened at $235.84 on Tuesday. Amazon.com, Inc. has a one year low of $161.38 and a one year high of $242.52. The company has a 50 day moving average of $226.07 and a 200-day moving average of $208.03. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.81. The stock has a market cap of $2.52 trillion, a price-to-earnings ratio of 35.95, a P/E/G ratio of 1.56 and a beta of 1.31.

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

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