Provident Investment Management Inc. Sells 9,276 Shares of Amazon.com, Inc. $AMZN

Key Points

• Provident Investment Management sold 9,276 shares of Amazon, trimming its position by 4.1% to 217,845 shares worth about $47.83 million, making AMZN its 12th largest holding (≈4.2% of the firm's portfolio).
• Amazon faces major growth catalysts in cloud/AI — reports of an OpenAI–AWS U.S. government deal and CEO Andy Jassy’s projection that AI could lift AWS revenue to $600 billion by 2036 have prompted analyst optimism.
• Market positioning shows heavy institutional ownership (≈72.2%) even as insiders sold shares recently (71,686 shares worth ~$14.7M last quarter, including sales by SVP David Zapolsky and CEO Douglas Herrington), signaling mixed internal and external activity.

Provident Investment Management Inc. decreased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 4.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 217,845 shares of the e-commerce giant's stock after selling 9,276 shares during the quarter. Amazon.com accounts for approximately 4.2% of Provident Investment Management Inc.'s holdings, making the stock its 12th biggest holding. Provident Investment Management Inc.'s holdings in Amazon.com were worth $47,832,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisory Services Network LLC boosted its position in shares of Amazon.com by 2.6% during the 3rd quarter. Advisory Services Network LLC now owns 525,584 shares of the e-commerce giant's stock valued at $115,402,000 after acquiring an additional 13,380 shares in the last quarter. San Luis Wealth Advisors LLC raised its position in Amazon.com by 4.4% in the third quarter. San Luis Wealth Advisors LLC now owns 51,590 shares of the e-commerce giant's stock worth $11,328,000 after purchasing an additional 2,152 shares in the last quarter. Tcfg Wealth Management LLC lifted its stake in Amazon.com by 14.3% during the third quarter. Tcfg Wealth Management LLC now owns 32,554 shares of the e-commerce giant's stock worth $7,148,000 after purchasing an additional 4,079 shares during the period. Fulcrum Asset Management LLP lifted its stake in Amazon.com by 1.7% during the third quarter. Fulcrum Asset Management LLP now owns 31,442 shares of the e-commerce giant's stock worth $6,904,000 after purchasing an additional 528 shares during the period. Finally, Vertex Planning Partners LLC boosted its holdings in Amazon.com by 14.4% during the third quarter. Vertex Planning Partners LLC now owns 6,862 shares of the e-commerce giant's stock valued at $1,507,000 after purchasing an additional 862 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

Amazon.com News Roundup

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

• Positive Sentiment: OpenAI–AWS government deal expands AWS addressable market — reports say OpenAI will sell access to its models to U.S. federal agencies via AWS (covers classified and unclassified work), which could accelerate high‑margin cloud revenue and strengthen AWS’s government pipeline. OpenAI to sell AI to US agencies through Amazon cloud unit, the Information reports
• Positive Sentiment: CEO says AI could double AWS revenue to $600B by 2036 — Andy Jassy’s projection positions AWS as a multi‑hundred‑billion‑dollar growth engine driven by AI workloads, supporting investor expectations for aggressive capex and monetization of AI services. Exclusive: Amazon CEO sees AI doubling his prior AWS sales projections to $600 billion by 2036
• Positive Sentiment: 1‑hour and 3‑hour delivery rollout targets faster same‑day commerce and fee revenue — Amazon expanded ultrafast paid delivery into many U.S. cities to compete with Walmart and quick‑commerce players; this can drive higher-frequency orders and new margin via fees. Amazon launches 1-hour shipping in US cities to challenge Walmart
• Positive Sentiment: Analysts stay constructive — recent analyst commentary and target increases (Needham, Wolfe Research and others) highlight upside based on AWS/AI momentum and retail recovery, supporting buyside interest. This Is The Cheapest Magnificent 7 Stock and the Best One to Buy Now, Says Top Analyst
• Neutral Sentiment: Appeals court pauses lower‑court order blocking Perplexity AI agents from visiting Amazon — legal uncertainty around AI scraping/agents is temporarily resolved, but the longer‑term policy and business impact for AMZN’s marketplace and traffic is unclear. Court Blocks Amazon Ban on Perplexity AI Agents
• Neutral Sentiment: Large bond issuance and revised hyperscaler debt forecasts — Amazon’s recent multi‑tranche bond activity and analysts’ revised expectations signal heavy capex funding for AI/data centers; seen as growth investment but increases leverage in the sector. Analysts revise AI hyperscaler debt forecasts after Amazon bond sale
• Negative Sentiment: Report: Amazon plans a drastic cut in packages sent through the U.S. Postal Service — a move to reallocate volume could lower logistics costs long‑term but risks transitional expense, regulatory scrutiny and vendor relations that could create near‑term volatility. Amazon plans drastic cut in packages it sends through post office, WSJ reports
• Negative Sentiment: Operational headwinds — articles report internal AI tools that are underperforming and a string of outages; those issues raise execution risk for productivity initiatives and could weigh on near‑term margins or customer experience. Inside Amazon: AI That's Supposed to Boost Productivity Is Backfiring

Insider Buying and Selling at Amazon.com

In other Amazon.com news, SVP David Zapolsky sold 10,649 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $205.43, for a total transaction of $2,187,624.07. Following the sale, the senior vice president owned 41,190 shares of the company's stock, valued at $8,461,661.70. This represents a 20.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas J. Herrington sold 6,835 shares of the firm's stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $205.82, for a total transaction of $1,406,779.70. Following the completion of the sale, the chief executive officer owned 522,361 shares of the company's stock, valued at $107,512,341.02. The trade was a 1.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 71,686 shares of company stock worth $14,688,739 over the last quarter. Corporate insiders own 10.80% of the company's stock.

Amazon.com Trading Up 1.6%

Shares of AMZN opened at $215.20 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.88 and a current ratio of 1.05. The company has a market cap of $2.31 trillion, a price-to-earnings ratio of 30.01, a PEG ratio of 1.59 and a beta of 1.40. The stock has a fifty day moving average price of $221.99 and a two-hundred day moving average price of $226.43. Amazon.com, Inc. has a 52-week low of $161.38 and a 52-week high of $258.60.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its earnings results on Thursday, February 5th. The e-commerce giant reported $1.95 EPS for the quarter, missing the consensus estimate of $1.97 by ($0.02). Amazon.com had a return on equity of 21.87% and a net margin of 10.83%.The business had revenue of $213.39 billion for the quarter, compared to the consensus estimate of $211.02 billion. During the same quarter in the previous year, the company posted $1.86 EPS. Amazon.com's revenue for the quarter was up 13.6% on a year-over-year basis. Analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Citizens Jmp increased their target price on Amazon.com from $300.00 to $315.00 and gave the stock an "outperform" rating in a report on Monday, February 2nd. Wolfe Research boosted their price target on Amazon.com from $250.00 to $255.00 and gave the company an "outperform" rating in a research note on Tuesday, March 10th. Mizuho cut Amazon.com from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, November 18th. Zacks Research lowered Amazon.com from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 1st. Finally, Evercore cut their price objective on Amazon.com from $335.00 to $285.00 and set an "outperform" rating for the company in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, fifty-three have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $286.93.

Amazon.com Company 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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