Oak Grove Capital LLC Sells 16,230 Shares of Amazon.com, Inc. $AMZN

Key Points

• Oak Grove Capital LLC cut its Amazon stake by 52.4% in the fourth quarter, selling 16,230 shares and leaving it with 14,771 shares valued at about $3.41 million.
• Despite the sale, institutional ownership remains high, with other funds adding to their Amazon positions and institutions overall holding 72.20% of the company.
• Analysts remain bullish on AMZN: several firms raised price targets, and MarketBeat data shows an average rating of “Moderate Buy” with a consensus target of $312.78.

Oak Grove Capital LLC decreased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 52.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,771 shares of the e-commerce giant's stock after selling 16,230 shares during the quarter. Amazon.com accounts for about 0.4% of Oak Grove Capital LLC's portfolio, making the stock its 29th largest holding. Oak Grove Capital LLC's holdings in Amazon.com were worth $3,409,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Lifelong Wealth Advisors Inc. boosted its stake in shares of Amazon.com by 2.4% in the fourth quarter. Lifelong Wealth Advisors Inc. now owns 1,740 shares of the e-commerce giant's stock valued at $402,000 after buying an additional 41 shares during the period. Financial Connections Group Inc. increased its stake in Amazon.com by 2.6% during the 4th quarter. Financial Connections Group Inc. now owns 1,633 shares of the e-commerce giant's stock worth $376,000 after acquiring an additional 42 shares during the period. Marquette Asset Management LLC increased its stake in Amazon.com by 5.1% during the 4th quarter. Marquette Asset Management LLC now owns 886 shares of the e-commerce giant's stock worth $205,000 after acquiring an additional 43 shares during the period. Western Financial Corp CA raised its holdings in Amazon.com by 1.5% in the 4th quarter. Western Financial Corp CA now owns 3,076 shares of the e-commerce giant's stock valued at $710,000 after acquiring an additional 44 shares in the last quarter. Finally, Navalign LLC raised its holdings in Amazon.com by 0.3% in the 4th quarter. Navalign LLC now owns 13,349 shares of the e-commerce giant's stock valued at $3,081,000 after acquiring an additional 44 shares in the last quarter. Institutional investors own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AMZN. Maxim Group increased their target price on Amazon.com from $290.00 to $315.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Truist Financial boosted their price target on Amazon.com from $310.00 to $320.00 and gave the company a "buy" rating in a research note on Friday, May 29th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $330.00 price objective (up from $280.00) on shares of Amazon.com in a research report on Thursday, April 30th. KeyCorp increased their price objective on shares of Amazon.com from $325.00 to $330.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Finally, Benchmark raised their target price on shares of Amazon.com from $275.00 to $370.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Fifty-seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Amazon.com has an average rating of "Moderate Buy" and an average price target of $312.78.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 1,000 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $266.19, for a total value of $266,190.00. Following the completion of the transaction, the chief executive officer owned 485,527 shares of the company's stock, valued at $129,242,432.13. This represents a 0.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew R. Jassy sold 20,000 shares of the business's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $263.42, for a total transaction of $5,268,400.00. Following the sale, the chief executive officer directly owned 2,205,766 shares in the company, valued at approximately $581,042,879.72. The trade was a 0.90% 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 sold a total of 195,774 shares of company stock worth $51,614,434 in the last quarter. Corporate insiders own 8.90% of the company's stock.

Amazon.com Price Performance

Shares of AMZN stock opened at $244.39 on Friday. The business has a fifty day simple moving average of $256.51 and a 200 day simple moving average of $234.12. The company has a market cap of $2.63 trillion, a P/E ratio of 29.23, a P/E/G ratio of 1.83 and a beta of 1.44. The company has a quick ratio of 1.01, a current ratio of 1.18 and a debt-to-equity ratio of 0.27. Amazon.com, Inc. has a twelve month low of $196.00 and a twelve month high of $278.56.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $1.15. The firm had revenue of $181.52 billion for the quarter, compared to analysts' expectations of $177.28 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The business's revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.59 earnings per share. On average, sell-side analysts forecast that Amazon.com, Inc. will post 7.71 EPS for the current fiscal year.

Amazon.com News Summary

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

• Positive Sentiment: Analysts are increasingly bullish on Amazon’s AI and cloud positioning, with multiple firms reiterating Buy ratings and highlighting AWS as a long-term growth driver. Brian Pitz Reiterates Amazon as Top Pick, Maintains Buy Rating and $355 Price Target on Strengthening AI and Cloud Positioning
• Positive Sentiment: Amazon is reportedly exploring sales of its Trainium AI chips to external data center customers, which could open a new revenue stream and deepen its challenge to Nvidia. Amazon exploring selling its custom AI chips to data center customers
• Positive Sentiment: Prime Day is approaching, and Bank of America expects the event to drive strong sales while boosting adoption of Amazon’s AI shopping tools, including Alexa for Shopping. Bank of America Lays Out Expectations Ahead of Amazon Stock’s Prime Day
• Positive Sentiment: Amazon is investing more than €10 billion to expand its European fulfillment network, signaling continued support for e-commerce capacity and logistics efficiency. Amazon Commits €10 Billion for European fulfillment network
• Neutral Sentiment: Amazon is facing EU scrutiny over whether AWS should be classified as a “gatekeeper” under the Digital Markets Act, which could increase regulatory oversight for the cloud unit. Microsoft and Amazon Face EU Digital Markets Act Scrutiny Over Cloud Dominance
• Neutral Sentiment: Amazon MGM Studios dropped the nearly finished OpenAI film “Artificial” after the companies’ broader partnership shift, a move with limited direct financial impact but notable signaling value. Luca Guadagnino’s Sam Altman, OpenAI Film ‘Artificial’ Dropped by Amazon MGM Studios
• Negative Sentiment: Amazon is also dealing with employee and public scrutiny over AI data center expansion and labor practices, which could add regulatory and reputational pressure. Amazon investigating engineers who criticized AI data center expansion

Amazon.com 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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