Palmer Knight Co Has $7.05 Million Stock Position in Amazon.com, Inc. $AMZN

Key Points

• Palmer Knight Co reduced its stake in Amazon.com, Inc. by 25.8%, selling 12,864 shares during the 1st quarter, leaving it with 37,075 shares valued at approximately $7 million.
• Insider Jeffrey P. Bezos sold over 4.2 million shares of Amazon for nearly $961 million, reducing his ownership by 0.47%, while insiders collectively sold 25 million shares worth around $5.7 billion in the last quarter.
• Amazon reported earnings of $1.68 per share for the last quarter, exceeding analyst expectations, with a total revenue of $167.70 billion, marking a 13.3% year-over-year increase.

Palmer Knight Co lessened its position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 25.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 37,075 shares of the e-commerce giant's stock after selling 12,864 shares during the period. Amazon.com makes up 3.4% of Palmer Knight Co's holdings, making the stock its 17th largest position. Palmer Knight Co's holdings in Amazon.com were worth $7,054,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Loudon Investment Management LLC grew its holdings in shares of Amazon.com by 10.2% in the 1st quarter. Loudon Investment Management LLC now owns 1,080 shares of the e-commerce giant's stock worth $205,000 after acquiring an additional 100 shares during the last quarter. BlueChip Wealth Advisors LLC grew its holdings in shares of Amazon.com by 13.1% during the first quarter. BlueChip Wealth Advisors LLC now owns 4,646 shares of the e-commerce giant's stock valued at $884,000 after buying an additional 537 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in shares of Amazon.com by 1.2% during the first quarter. Proficio Capital Partners LLC now owns 83,328 shares of the e-commerce giant's stock valued at $15,906,000 after buying an additional 952 shares in the last quarter. KLP Kapitalforvaltning AS grew its holdings in shares of Amazon.com by 2.2% during the first quarter. KLP Kapitalforvaltning AS now owns 3,250,600 shares of the e-commerce giant's stock valued at $618,459,000 after buying an additional 69,500 shares in the last quarter. Finally, Alpha Omega Group Inc. purchased a new position in shares of Amazon.com during the first quarter valued at $335,000. Institutional investors own 72.20% of the company's stock.

Amazon.com Stock Performance

Shares of NASDAQ AMZN traded up $6.89 during trading hours on Friday, hitting $228.84. 37,264,095 shares of the company's stock were exchanged, compared to its average volume of 46,830,960. Amazon.com, Inc. has a 1-year low of $161.38 and a 1-year high of $242.52. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.81. The stock has a market capitalization of $2.44 trillion, a price-to-earnings ratio of 34.88, a PEG ratio of 1.54 and a beta of 1.31. The company's 50-day moving average price is $222.63 and its 200-day moving average price is $208.07.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.37. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%.The business had revenue of $167.70 billion during the quarter, compared to analysts' expectations of $161.80 billion. During the same quarter in the previous year, the firm earned $1.26 EPS. The firm's revenue was up 13.3% compared to the same quarter last year. Amazon.com has set its Q3 2025 guidance at EPS. On average, sell-side analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AMZN has been the topic of a number of recent research reports. Citigroup restated an "overweight" rating on shares of Amazon.com in a research note on Wednesday, August 13th. Needham & Company LLC reiterated a "buy" rating and set a $265.00 price target on shares of Amazon.com in a research note on Friday, August 1st. Telsey Advisory Group reiterated an "outperform" rating and set a $265.00 price target on shares of Amazon.com in a research note on Wednesday, August 13th. Bank of America upped their price target on Amazon.com from $265.00 to $272.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, Westpark Capital reiterated a "buy" rating and set a $280.00 price target on shares of Amazon.com in a research note on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, forty-six have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $262.87.

Insider Buying and Selling

In other Amazon.com news, insider Jeffrey P. Bezos sold 4,273,237 shares of the company's stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $224.81, for a total value of $960,666,409.97. Following the completion of the transaction, the insider owned 897,722,088 shares of the company's stock, valued at $201,816,902,603.28. This represents a 0.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders sold 25,012,284 shares of company stock valued at $5,656,976,492. Corporate insiders own 9.70% of the company's stock.

About Amazon.com

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.