Power Wealth Management LLC Sells 2,127 Shares of Amazon.com, Inc. $AMZN

Key Points

• Power Wealth Management LLC reduced its Amazon stake by 13.3% in the second quarter, selling 2,127 shares and retaining 13,921 shares valued at approximately $3.32 million. Institutional investors collectively own 72.2% of Amazon.
• Amazon reported strong quarterly results, with $5.75 in EPS and $200.61 billion in revenue, exceeding analyst estimates; revenue rose 19.6% year over year. Analysts maintain a generally bullish view, with a consensus price target of $321.63.
• Amazon insiders sold shares under pre-arranged trading plans, including CEO Matthew Garman and SVP David Zapolsky; insiders sold 70,589 shares worth approximately $18.3 million over the past 90 days.

Power Wealth Management LLC trimmed its position in Amazon.com, Inc. (NASDAQ:AMZN) by 13.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,921 shares of the e-commerce giant's stock after selling 2,127 shares during the period. Amazon.com makes up approximately 1.2% of Power Wealth Management LLC's portfolio, making the stock its 15th biggest position. Power Wealth Management LLC's holdings in Amazon.com were worth $3,318,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AMZN. Burford Brothers Inc. lifted its stake in shares of Amazon.com by 1.6% during the 2nd quarter. Burford Brothers Inc. now owns 23,782 shares of the e-commerce giant's stock worth $5,668,000 after acquiring an additional 384 shares during the last quarter. AXQ Capital LP lifted its holdings in Amazon.com by 372.8% during the 2nd quarter. AXQ Capital LP now owns 18,192 shares of the e-commerce giant's stock valued at $4,336,000 after buying an additional 14,344 shares in the last quarter. Montz Harcus Wealth Management LLC boosted its position in Amazon.com by 0.6% in the 2nd quarter. Montz Harcus Wealth Management LLC now owns 23,998 shares of the e-commerce giant's stock valued at $5,720,000 after buying an additional 143 shares during the period. Fortune 45 LLC boosted its position in Amazon.com by 1.1% in the 2nd quarter. Fortune 45 LLC now owns 10,333 shares of the e-commerce giant's stock valued at $2,463,000 after buying an additional 117 shares during the period. Finally, High Net Worth Advisory Group LLC grew its stake in Amazon.com by 3.6% in the 2nd quarter. High Net Worth Advisory Group LLC now owns 26,748 shares of the e-commerce giant's stock worth $6,375,000 after acquiring an additional 935 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Stock Up 1.3%

Amazon.com stock opened at $251.52 on Friday. The firm has a market capitalization of $2.71 trillion, a price-to-earnings ratio of 20.23, a price-to-earnings-growth ratio of 1.92 and a beta of 1.45. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.87 and a current ratio of 1.03. Amazon.com, Inc. has a fifty-two week low of $196.00 and a fifty-two week high of $287.20. The stock's fifty day moving average is $257.06 and its two-hundred day moving average is $248.25.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The e-commerce giant reported $5.75 earnings per share for the quarter, topping analysts' consensus estimates of $1.82 by $3.93. The company had revenue of $200.61 billion for the quarter, compared to analyst estimates of $197.03 billion. Amazon.com had a return on equity of 18.00% and a net margin of 17.44%.The business's revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.68 EPS. Analysts predict that Amazon.com, Inc. will post 8.01 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Robert W. Baird set a $310.00 price target on shares of Amazon.com and gave the company an "outperform" rating in a report on Friday, July 31st. Roth Capital reiterated a "buy" rating and set a $325.00 price objective on shares of Amazon.com in a report on Monday, August 3rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Amazon.com in a research report on Monday, August 3rd. Monness Crespi & Hardt increased their price target on Amazon.com from $315.00 to $330.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Finally, Citigroup restated a "market outperform" rating on shares of Amazon.com in a research note on Friday, August 14th. Fifty-six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Amazon.com has an average rating of "Moderate Buy" and a consensus target price of $321.63.

Insiders Place Their Bets

In related news, SVP David Zapolsky sold 9,258 shares of the company's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $259.77, for a total value of $2,404,950.66. Following the sale, the senior vice president directly owned 41,190 shares of the company's stock, valued at $10,699,926.30. This represents a 18.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 dated 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 sale, the chief executive officer directly 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. In the last ninety days, insiders sold 70,589 shares of company stock valued at $18,329,015. Corporate insiders own 8.90% of the company's stock.

Key Amazon.com News

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

• Positive Sentiment: AWS data-center push received support: Amazon Web Services pledged more than $1 billion over five years for communities hosting its U.S. data centers, including job training, education and infrastructure initiatives. The investment is intended to ease resistance to new facilities and help Amazon secure capacity for AI workloads. Amazon to invest $1 billion over five years in US data center communities
• Positive Sentiment: AI and AWS growth remain the main bullish catalyst: Reports highlighted AWS’s rapid expansion, a more than $1 billion Synopsys agreement supporting custom-chip development, and Anthropic’s expected long-term AWS commitments of roughly $110 billion. Amazon also launched an AI agent that audits customers’ cloud environments, potentially increasing AWS usage while improving customer cost, security and performance management. Amazon Is Both Landlord And Shareholder In Anthropic’s Giant Cloud Bet
• Positive Sentiment: Analyst confidence provided additional support: Goldman Sachs added Amazon to its conviction list, while New Street raised its price target to $385 and maintained a Buy rating. Analysts cited AWS growth, generative AI exposure and potential retail-margin improvement as reasons for longer-term upside. New Street Adjusts Price Target on Amazon.com to $385
• Neutral Sentiment: Amazon is reportedly exploring an $8 billion chip sale-and-leaseback: Moving Nvidia AI chips to an investment vehicle could make the balance sheet more asset-light and help fund capital spending, but it also underscores the scale of Amazon’s AI infrastructure costs and financing requirements. Amazon seeks to offload $8 billion of Nvidia chips
• Negative Sentiment: Investors face profitability and regulatory risks: Analysts questioned how much AWS earnings are distorted by unrealized Anthropic investment gains, while surging AI capital expenditures could pressure free cash flow. Potential tougher EU cloud rules, data-center opposition, warehouse labor actions and Prime-related settlement payments add further uncertainty. What Are Amazon Investors Paying for AWS Without Investment Gains?

Amazon.com Company Profile

Amazon.com, Inc is a global technology and commerce company that operates online marketplaces, physical stores, and a broad portfolio of digital and cloud-based services. The company offers consumer products across categories such as electronics, household goods, apparel, groceries, and entertainment, while also providing third-party sellers with tools for listing, selling, and fulfilling orders.

Amazon's major businesses include Amazon Web Services (AWS), which provides cloud computing, storage, database, analytics, and artificial intelligence services; Prime, a membership program that includes shipping, streaming, and other benefits; and digital entertainment services such as Prime Video, Amazon Music, Kindle, and Audible.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.