NBT Bank N A NY Buys 3,567 Shares of Amazon.com, Inc. $AMZN

Key Points

• NBT Bank N A NY increased its Amazon stake by 3.8% in the first quarter, buying 3,567 additional shares and bringing its total holdings to 98,446 shares valued at about $20.5 million.
• Wall Street sentiment remains upbeat on Amazon, with multiple analysts raising price targets to around $315 to $332 and the consensus rating staying at Moderate Buy.
• Amazon’s AI and cloud growth story is still the main focus, with reports highlighting AWS momentum, AI data center opportunities, and potential AI chip sales that could become a $50 billion business.

NBT Bank N A NY raised its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 3.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 98,446 shares of the e-commerce giant's stock after buying an additional 3,567 shares during the quarter. Amazon.com comprises 1.3% of NBT Bank N A NY's portfolio, making the stock its 14th largest holding. NBT Bank N A NY's holdings in Amazon.com were worth $20,503,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Amazon.com by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 832,274,556 shares of the e-commerce giant's stock worth $158,348,557,000 after acquiring an additional 8,913,959 shares during the period. State Street Corp boosted its holdings in Amazon.com by 1.8% in the 4th quarter. State Street Corp now owns 388,653,121 shares of the e-commerce giant's stock valued at $89,708,913,000 after purchasing an additional 6,971,680 shares during the period. Geode Capital Management LLC boosted its holdings in Amazon.com by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 225,120,994 shares of the e-commerce giant's stock valued at $51,753,622,000 after purchasing an additional 2,479,324 shares during the period. Norges Bank purchased a new position in shares of Amazon.com during the 4th quarter valued at $32,868,735,000. Finally, Auto Owners Insurance Co grew its position in shares of Amazon.com by 27,376.7% during the 4th quarter. Auto Owners Insurance Co now owns 98,448,885 shares of the e-commerce giant's stock valued at $2,272,397,000 after purchasing an additional 98,090,585 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors.

Key Headlines Impacting Amazon.com

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

• Positive Sentiment: Citizens JMP reaffirmed its market outperform rating on Amazon and lifted its price target to $315, implying meaningful upside from current levels.
• Positive Sentiment: Jefferies said Amazon offers an attractive way to invest in AI data centers and chips, highlighting upside from AWS, custom silicon, and broader AI infrastructure demand.
• Positive Sentiment: Several reports pointed to Amazon’s growing AI opportunity, including commentary that CEO Andy Jassy sees AI chip sales becoming a potential $50 billion business and that Amazon is increasingly being viewed as a major player in data center chips.
• Positive Sentiment: Amazon also signed a commercial relationship with Electrovaya tied to battery technology for material handling, robotics, and energy storage, reinforcing its automation and logistics ambitions. Electrovaya Announces Commercial Relationship with Amazon
• Positive Sentiment: Analysts continued to frame Amazon as well-positioned heading into its earnings cycle thanks to AWS momentum and resilient Prime Day spending.
• Neutral Sentiment: Amazon AWS senior vice president Dave Brown is leaving after 19 years, but the company moved quickly to replace him with another senior executive, limiting the immediate business impact.
• Negative Sentiment: Some headlines flagged concern over Amazon’s aggressive AI spending and debt financing, including its planned $25 billion bond sale and broader questions about whether hyperscaler capex can be sustained.
• Negative Sentiment: There were also reports that New York’s pause on new AI data centers and other potential state-level restrictions could slow parts of the AI infrastructure buildout that supports Amazon’s cloud growth story.

Insiders Place Their Bets

In other Amazon.com news, CEO Andrew R. Jassy sold 20,000 shares of Amazon.com stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $263.42, for a total transaction of $5,268,400.00. Following the transaction, the chief executive officer directly owned 2,205,766 shares of the company's stock, valued at approximately $581,042,879.72. This trade represents a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Shelley Reynolds sold 2,363 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $262.38, for a total transaction of $620,003.94. Following the completion of the sale, the vice president owned 119,780 shares of the company's stock, valued at approximately $31,427,876.40. The trade was a 1.93% decrease in their ownership of the stock. 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 175,274 shares of company stock valued at $46,621,204 over the last 90 days. Company insiders own 8.90% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. William Blair reiterated an "outperform" rating on shares of Amazon.com in a research report on Thursday, April 9th. Sanford C. Bernstein restated an "outperform" rating and set a $315.00 target price (up from $300.00) on shares of Amazon.com in a research report on Thursday, April 30th. Evercore upped their target price on Amazon.com from $285.00 to $315.00 and gave the stock an "outperform" rating in a research note on Thursday, April 30th. Rosenblatt Securities raised their price target on Amazon.com from $296.00 to $332.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $280.00 price target on shares of Amazon.com in a research report on Friday, May 1st. Fifty-seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $312.79.

Amazon.com Stock Up 3.0%

AMZN opened at $254.96 on Thursday. The business's fifty day simple moving average is $251.76 and its 200 day simple moving average is $235.73. Amazon.com, Inc. has a 52 week low of $196.00 and a 52 week high of $278.56. The company has a quick ratio of 1.01, a current ratio of 1.18 and a debt-to-equity ratio of 0.27. The stock has a market cap of $2.74 trillion, a PE ratio of 30.50, a P/E/G ratio of 1.85 and a beta of 1.46.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings results 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 return on equity of 19.92% and a net margin of 12.22%.The firm had revenue of $181.52 billion during the quarter, compared to analyst estimates of $177.28 billion. During the same quarter in the previous year, the company posted $1.59 earnings per share. The company's revenue was up 16.6% compared to the same quarter last year. As a group, research analysts expect that Amazon.com, Inc. will post 7.75 earnings per share for the current fiscal year.

About Amazon.com

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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