Norris Perne & French LLP MI Purchases 158,091 Shares of Amazon.com, Inc. $AMZN

Key Points

• Norris Perne & French LLP MI increased its Amazon stake by 178.4% in the third quarter, adding 158,091 shares to hold 246,695 shares valued at about $61.5 million.
• Amazon’s latest quarterly results slightly missed analyst estimates: earnings were $1.89 per share versus $1.97 expected, and revenue was $201.94 billion versus $202.22 billion. Revenue nevertheless grew 12.1% year over year.
• Analysts maintained a broadly positive outlook, with a Moderate Buy consensus rating and average price target of $321.74; JPMorgan also pointed to strong AWS demand and potential future growth.

Norris Perne & French LLP MI boosted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 178.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 246,695 shares of the e-commerce giant's stock after acquiring an additional 158,091 shares during the period. Amazon.com accounts for 2.7% of Norris Perne & French LLP MI's holdings, making the stock its 5th biggest position. Norris Perne & French LLP MI's holdings in Amazon.com were worth $61,464,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its position in shares of Amazon.com by 5.5% in the 2nd quarter. State Street Corp now owns 411,848,346 shares of the e-commerce giant's stock worth $95,504,904,000 after purchasing an additional 21,398,025 shares in the last quarter. Bank of America Corp DE purchased a new position in Amazon.com during the 2nd quarter worth $22,218,775,000. Bank of New York Mellon Corp acquired a new position in Amazon.com during the 2nd quarter valued at about $16,341,405,000. Amundi increased its position in Amazon.com by 3.9% during the 2nd quarter. Amundi now owns 63,822,242 shares of the e-commerce giant's stock valued at $15,211,393,000 after buying an additional 2,421,739 shares in the last quarter. Finally, Legal & General Group Plc acquired a new position in Amazon.com during the 2nd quarter valued at about $12,831,376,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Stock Up 2.9%

Amazon.com stock opened at $266.93 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.82 and a current ratio of 0.99. The business's 50-day simple moving average is $253.97 and its two-hundred day simple moving average is $243.74. The company has a market cap of $2.89 trillion, a PE ratio of 21.58, a PEG ratio of 2.02 and a beta of 1.49. Amazon.com, Inc. has a fifty-two week low of $196.00 and a fifty-two week high of $287.20.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The e-commerce giant reported $1.89 earnings per share for the quarter, missing analysts' consensus estimates of $1.97 by ($0.08). Amazon.com had a net margin of 16.90% and a return on equity of 15.72%. The firm had revenue of $201.94 billion during the quarter, compared to analyst estimates of $202.22 billion. During the same period in the prior year, the company posted $1.95 earnings per share. The firm's revenue for the quarter was up 12.1% on a year-over-year basis. Equities analysts anticipate that Amazon.com, Inc. will post 7.80 EPS for the current year.

Amazon.com News Summary

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

• Positive Sentiment: JPMorgan added Amazon to its focus list and highlighted AWS growth, including the potential for growth above 40% in 2027 and 2028. AWS’s reported 39% growth and $578 billion backlog reinforce the case for sustained demand. Article: Amazon Stocks Rise as JPMorgan Adds It to Focus List on AWS
• Positive Sentiment: Investors appeared to favor established cloud and data-center operators amid debate about AI infrastructure spending, supporting Amazon’s position as a major hyperscaler. Article: What's Going On With Amazon Stock Monday?
• Positive Sentiment: Amazon Haul’s pre-holiday promotion comes as reported customer adoption has surged, potentially bolstering its value-focused retail offering ahead of the holiday season. Article: Amazon Haul Launches Pre-Holiday Deals As Users Jump 350%
• Neutral Sentiment: Reports that Amazon is hiring for a new home-robot product point to a possible future growth initiative, though the product and its commercial potential remain uncertain. Article: Amazon's Astro home robot has fans but looks destined for the 'trash heap.' Why it's trying again
• Negative Sentiment: Risks include heavy AI-related capital spending and intensifying cloud competition. Amazon’s latest quarter also came in slightly below consensus for both EPS and revenue, tempering the positive growth outlook.

Insider Transactions at Amazon.com

In related news, VP Shelley Reynolds sold 2,343 shares of the company's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $259.01, for a total value of $606,860.43. Following the sale, the vice president owned 119,780 shares in the company, valued at $31,024,217.80. This represents a 1.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew S. Garman sold 14,541 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $259.06, for a total transaction of $3,766,991.46. Following the completion of the transaction, the chief executive officer owned 17,794 shares in the company, valued at approximately $4,609,713.64. This trade represents a 44.97% decrease in their position. 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 71,589 shares of company stock valued at $18,545,595 over the last quarter. Company insiders own 8.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on AMZN. Susquehanna reiterated a "positive" rating on shares of Amazon.com in a research note on Friday, October 30th. Wedbush cut their price objective on shares of Amazon.com from $310.00 to $298.00 and set an "outperform" rating on the stock in a report on Friday, October 30th. Citizens Jmp decreased their price objective on shares of Amazon.com from $315.00 to $275.00 and set a "market outperform" rating for the company in a research report on Friday, October 30th. Scotiabank lowered their target price on shares of Amazon.com from $325.00 to $300.00 and set a "sector outperform" rating for the company in a research note on Friday, October 30th. Finally, Piper Sandler reissued an "overweight" rating on shares of Amazon.com in a research report on Friday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, fifty-five have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Amazon.com currently has a consensus rating of "Moderate Buy" and an average target price of $321.74.

About Amazon.com

Amazon.com, Inc is a technology and e-commerce company founded by Jeff Bezos in 1994 as an online bookstore. It has since grown into a global business serving consumers, sellers, developers, enterprises and content creators.

Amazon operates online stores and marketplaces, where it sells products directly and enables third-party sellers to reach customers. Its other businesses include Amazon Web Services, which provides cloud computing and related services; digital advertising; Prime memberships; and entertainment offerings such as streaming video and music.

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