Reliant Investment Management LLC Acquires New Holdings in Amazon.com, Inc. $AMZN

Key Points

• Reliant Investment Management acquired 38,086 Amazon shares worth approximately $9.5 million in the third quarter, making AMZN its 11th-largest holding and representing 3.2% of its portfolio.
• Institutional investors own 72.2% of Amazon, while insiders sold 71,589 shares worth about $18.6 million over the past three months, including sales by CEO Andy Jassy and SVP David Zapolsky.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $322.53. Amazon recently exceeded earnings and revenue estimates, reporting $5.75 in EPS and $200.61 billion in quarterly revenue, up 19.6% year over year.

Reliant Investment Management LLC acquired a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 38,086 shares of the e-commerce giant's stock, valued at approximately $9,489,000. Amazon.com accounts for approximately 3.2% of Reliant Investment Management LLC's portfolio, making the stock its 11th largest position.

A number of other institutional investors also recently made changes to their positions in AMZN. State Street Corp boosted its stake in 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 valued at $95,504,904,000 after purchasing an additional 21,398,025 shares during the period. Bank of America Corp DE acquired a new position in Amazon.com in the 2nd quarter valued at $22,218,775,000. Bank of New York Mellon Corp acquired a new position in Amazon.com in the 2nd quarter valued at $16,341,405,000. Amundi grew its holdings in Amazon.com by 3.9% in 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 bought a new position in Amazon.com during the 2nd quarter worth $12,831,376,000. Institutional investors own 72.20% of the company's stock.

Insider Activity

In other news, CEO Andrew R. Jassy sold 20,000 shares of the business's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $259.01, for a total value of $5,180,200.00. Following the completion of the transaction, the chief executive officer directly owned 2,235,766 shares in the company, valued at approximately $579,085,751.66. The trade was a 0.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP David Zapolsky sold 9,258 shares of the company's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $259.77, for a total transaction of $2,404,950.66. Following the sale, the senior vice president directly owned 41,190 shares of the company's stock, valued at approximately $10,699,926.30. This trade represents a 18.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 71,589 shares of company stock valued at $18,580,515. Company insiders own 8.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AMZN. KeyCorp reissued an "overweight" rating on shares of Amazon.com in a report on Thursday, October 15th. Royal Bank Of Canada upped their price target on shares of Amazon.com from $320.00 to $330.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. TD Cowen restated a "buy" rating and issued a $350.00 price target on shares of Amazon.com in a research note on Monday, October 5th. Mizuho set a $330.00 price target on shares of Amazon.com and gave the stock an "outperform" rating in a research report on Friday, July 31st. Finally, Piper Sandler reiterated an "overweight" rating and issued a $320.00 price objective (up from $315.00) on shares of Amazon.com in a research note on Friday, July 31st. Fifty-seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Amazon.com currently has a consensus rating of "Moderate Buy" and an average price target of $322.53.

Amazon.com Stock Performance

AMZN opened at $250.38 on Friday. 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 52-week low of $196.00 and a 52-week high of $287.20. The firm has a market cap of $2.70 trillion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 2.03 and a beta of 1.45. The business's fifty day moving average is $255.85 and its 200-day moving average is $253.33.

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

More Amazon.com News

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

• Positive Sentiment: Strong AWS and AI growth remain the central bull case. AWS is reportedly expanding at its fastest pace in 18 quarters, while Amazon’s custom Trainium chips are being made available to PyTorch developers. Analysts see cloud growth, advertising, operating leverage and AI infrastructure as potential drivers of substantial long-term upside. Amazon AI growth and upside analysis
• Positive Sentiment: Institutional and analyst support provided a counterpoint. Morgan Stanley named Amazon a top pick and raised its price target, while Citadel increased its Amazon position. Jefferies also said warehouse automation and Amazon’s logistics network could improve retail margins over time. Citadel Amazon stake and AI bubble article
• Positive Sentiment: Amazon continues to expand strategic growth opportunities. The company is involved in a proposed 960-megawatt nuclear project in Indiana, and data indicate it is gaining fresh-grocery market share from traditional supermarkets. Amazon nuclear energy project
• Neutral Sentiment: Third-quarter results are the immediate focus. Wall Street expects earnings growth, but investors are watching AWS growth, operating margins, free cash flow and management’s outlook for capital expenditures. The company’s recent spending plans reportedly approach $200 billion to $220 billion, making the earnings call particularly important. Amazon earnings preview
• Negative Sentiment: AI investment is raising return-on-capital concerns. Reports say some Nvidia-powered server racks purchased by Amazon are sitting idle because data centers lack sufficient electricity, while Amazon has also abandoned a planned Virginia data-center campus. Such developments could delay monetization of its massive infrastructure spending. Amazon Nvidia chips and data-center power report
• Negative Sentiment: Competitive, regulatory and labor risks remain overhangs. Debate over whether AI is in a bubble, Walmart’s more open approach to AI-agent commerce, a proposed bill targeting subsidies for large AI data centers, and renewed Teamsters pressure on delivery rules could increase uncertainty or costs. Amazon and Walmart AI-agent commerce article

Amazon.com Profile

Amazon.com, Inc is a global technology and e-commerce company founded by Jeff Bezos in 1994. Originally launched as an online bookstore, the company has expanded into a broad digital marketplace offering consumer products across numerous categories, including electronics, household goods, apparel, groceries and other merchandise. Amazon also sells products under its own brands and provides logistics, fulfillment and delivery services that support its retail operations and third-party sellers.

The company's principal businesses include online and physical retail, Amazon Web Services (AWS), digital advertising, subscription services and consumer technology.

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