New Wave Wealth Advisors LLC Has $2.93 Million Position in Amazon.com, Inc. $AMZN

Key Points

• New Wave Wealth Advisors LLC decreased its stake in Amazon.com, Inc. by 37.9% during the 2nd quarter, holding a total of 13,337 shares worth approximately $2.93 million.
• Various institutional investors, including Kingstone Capital Partners and Goldman Sachs, significantly increased their holdings in Amazon during the same period, with Kingstone's stake rising by a staggering 542,733.6%.
• A recent insider trading report revealed that two executives sold shares, with SVP David Zapolsky selling over $3 million worth of stock, indicating a notable reduction in their ownership percentages.

New Wave Wealth Advisors LLC reduced its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 37.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,337 shares of the e-commerce giant's stock after selling 8,147 shares during the period. Amazon.com accounts for about 1.2% of New Wave Wealth Advisors LLC's portfolio, making the stock its 23rd largest holding. New Wave Wealth Advisors LLC's holdings in Amazon.com were worth $2,926,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of AMZN. Kingstone Capital Partners Texas LLC increased its stake in shares of Amazon.com by 542,733.6% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 132,641,388 shares of the e-commerce giant's stock worth $29,100,194,000 after purchasing an additional 132,616,953 shares during the last quarter. Nuveen LLC bought a new stake in shares of Amazon.com during the 1st quarter worth about $11,674,091,000. Goldman Sachs Group Inc. boosted its holdings in Amazon.com by 21.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 57,908,424 shares of the e-commerce giant's stock valued at $11,017,657,000 after purchasing an additional 10,176,835 shares during the period. Vanguard Group Inc. boosted its holdings in Amazon.com by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 832,274,556 shares of the e-commerce giant's stock valued at $158,348,557,000 after purchasing an additional 8,913,959 shares during the period. Finally, Amundi boosted its holdings in Amazon.com by 15.1% in the 1st quarter. Amundi now owns 55,337,037 shares of the e-commerce giant's stock valued at $9,884,098,000 after purchasing an additional 7,267,277 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Amazon.com news, SVP David Zapolsky sold 13,570 shares of Amazon.com stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $222.76, for a total value of $3,022,853.20. Following the sale, the senior vice president owned 44,110 shares of the company's stock, valued at approximately $9,825,943.60. The trade was a 23.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brian T. Olsavsky sold 17,750 shares of Amazon.com stock in a transaction dated 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 completion of the sale, the chief financial officer directly owned 49,000 shares in the company, valued at approximately $10,914,260. This represents a 26.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,864,716 shares of company stock valued at $2,486,013,854. Company insiders own 9.70% of the company's stock.

Amazon.com Stock Down 0.5%

Amazon.com stock opened at $214.47 on Friday. Amazon.com, Inc. has a 1-year low of $161.38 and a 1-year high of $242.52. The firm has a market capitalization of $2.29 trillion, a price-to-earnings ratio of 32.69, a price-to-earnings-growth ratio of 1.43 and a beta of 1.28. The firm's fifty day moving average price is $225.85 and its two-hundred day moving average price is $212.38. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $161.80 billion. During the same period last year, the firm earned $1.26 earnings per share. The firm's revenue was up 13.3% on a year-over-year basis. Amazon.com has set its Q3 2025 guidance at EPS. On average, equities research analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AMZN. Zacks Research downgraded shares of Amazon.com from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Citigroup reissued an "overweight" rating on shares of Amazon.com in a research note on Wednesday, August 13th. Jefferies Financial Group reissued a "buy" rating on shares of Amazon.com in a research note on Thursday, September 11th. BNP Paribas upgraded shares of Amazon.com from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Amazon.com in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $266.26.

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.

Want to see what other hedge funds are holding AMZN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amazon.com, Inc. (NASDAQ:AMZN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.