Manhattan West Asset Management LLC Sells 3,410 Shares of Amazon.com, Inc. $AMZN

Key Points

• Manhattan West Asset Management cut its Amazon stake by 4.2% in the fourth quarter, selling 3,410 shares and leaving it with 78,240 shares worth about $18.1 million.
• Despite the sale, institutional ownership remains high: hedge funds and other investors still hold 72.2% of Amazon’s stock, and several other funds recently increased or initiated positions.
• Amazon continues to attract bullish analyst coverage, with multiple firms raising price targets and Bank of America reiterating a Buy rating with a $310 target, citing AI-powered shopping tools and other growth drivers.

Manhattan West Asset Management LLC decreased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 4.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 78,240 shares of the e-commerce giant's stock after selling 3,410 shares during the quarter. Amazon.com makes up about 3.7% of Manhattan West Asset Management LLC's holdings, making the stock its 6th biggest position. Manhattan West Asset Management LLC's holdings in Amazon.com were worth $18,059,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Fairway Wealth LLC increased its stake in shares of Amazon.com by 113.2% during the 3rd quarter. Fairway Wealth LLC now owns 113 shares of the e-commerce giant's stock worth $25,000 after purchasing an additional 60 shares during the last quarter. Sellwood Investment Partners LLC acquired a new position in shares of Amazon.com during the 3rd quarter worth $27,000. Bridge Generations Wealth Management LLC grew its stake in Amazon.com by 2,330.0% in the 3rd quarter. Bridge Generations Wealth Management LLC now owns 243 shares of the e-commerce giant's stock valued at $53,000 after buying an additional 233 shares during the last quarter. Cooksen Wealth LLC grew its stake in Amazon.com by 23.5% in the 2nd quarter. Cooksen Wealth LLC now owns 247 shares of the e-commerce giant's stock valued at $54,000 after buying an additional 47 shares during the last quarter. Finally, Harbor Investment Advisory LLC grew its stake in Amazon.com by 2.4% in the 4th quarter. Harbor Investment Advisory LLC now owns 309,697 shares of the e-commerce giant's stock valued at $71,000 after buying an additional 7,329 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Key Amazon.com News

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AMZN. Tigress Financial raised their target price on shares of Amazon.com from $305.00 to $315.00 and gave the company a "buy" rating in a research note on Wednesday, March 25th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $330.00 target price (up from $280.00) on shares of Amazon.com in a research note on Thursday, April 30th. Needham & Company LLC raised their target price on shares of Amazon.com from $265.00 to $300.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Guggenheim reiterated a "buy" rating and issued a $320.00 target price (up from $300.00) on shares of Amazon.com in a research note on Thursday, April 30th. Finally, Arete Research raised their target price on shares of Amazon.com from $301.00 to $310.00 and gave the company a "buy" rating in a research note on Monday, May 18th. Fifty-seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Amazon.com currently has an average rating of "Moderate Buy" and a consensus price target of $312.66.

Insider Activity at Amazon.com

In other news, CEO Matthew S. Garman sold 11,475 shares of the business's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $262.66, for a total transaction of $3,014,023.50. Following the transaction, the chief executive officer owned 11,430 shares in the company, valued at approximately $3,002,203.80. The trade was a 50.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP David Zapolsky sold 10,649 shares of the business's stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $205.43, for a total transaction of $2,187,624.07. Following 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 SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 146,773 shares of company stock worth $37,989,011. Insiders own 8.90% of the company's stock.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $266.32 on Monday. The firm's 50-day moving average is $239.50 and its 200-day moving average is $231.70. Amazon.com, Inc. has a 52-week low of $196.00 and a 52-week high of $278.56. 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 company has a market cap of $2.86 trillion, a price-to-earnings ratio of 31.86, a PEG ratio of 1.99 and a beta of 1.46.

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

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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