Riverstone Advisors LLC Has $16.55 Million Position in Amazon.com, Inc. $AMZN

Key Points

• Riverstone Advisors LLC reduced its Amazon stake by 5.7% in the first quarter, selling 4,803 shares and ending with 79,461 shares valued at about $16.55 million.
• Amazon continues to attract strong institutional interest, with several other firms increasing their positions and 72.2% of the stock now held by institutional investors.
• Recent developments remain broadly positive for Amazon, including progress on its Leo satellite network, expansion of its AI strategy, and signs of strong consumer demand during Prime Day.

Riverstone Advisors LLC trimmed its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 5.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 79,461 shares of the e-commerce giant's stock after selling 4,803 shares during the period. Amazon.com accounts for 8.2% of Riverstone Advisors LLC's portfolio, making the stock its 3rd biggest position. Riverstone Advisors LLC's holdings in Amazon.com were worth $16,549,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AMZN. MBE Wealth Management LLC boosted its holdings in shares of Amazon.com by 1.8% in the 1st quarter. MBE Wealth Management LLC now owns 4,031 shares of the e-commerce giant's stock valued at $840,000 after buying an additional 72 shares during the period. Maridea Wealth Management LLC raised its stake in Amazon.com by 5.7% during the first quarter. Maridea Wealth Management LLC now owns 48,032 shares of the e-commerce giant's stock worth $10,004,000 after acquiring an additional 2,606 shares during the period. Laurel Oak Wealth Management LLC raised its stake in Amazon.com by 3.2% during the first quarter. Laurel Oak Wealth Management LLC now owns 79,779 shares of the e-commerce giant's stock worth $16,616,000 after acquiring an additional 2,472 shares during the period. Crown Wealth Group LLC lifted its holdings in Amazon.com by 1.7% in the first quarter. Crown Wealth Group LLC now owns 23,602 shares of the e-commerce giant's stock worth $4,916,000 after acquiring an additional 398 shares during the last quarter. Finally, HF Advisory Group LLC lifted its holdings in Amazon.com by 11.9% in the first quarter. HF Advisory Group LLC now owns 22,690 shares of the e-commerce giant's stock worth $4,726,000 after acquiring an additional 2,406 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

Trending Headlines about Amazon.com

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

• Positive Sentiment: Amazon said its Leo satellite network has enough satellites to begin initial broadband service this year, opening a new growth opportunity in satellite internet. Reuters: Amazon to start initial Leo internet service this year as network nears 400 satellites
• Positive Sentiment: Amazon is expanding its AI strategy with custom device chips and broader AWS AI capabilities, which could support future margins and growth. CNBC: Amazon is designing its own AI chips for Echo, Fire TV and future devices
• Positive Sentiment: Prime Day-related reports pointed to strong online shopping demand, reinforcing confidence in Amazon’s retail momentum heading into earnings. Yahoo Finance/Reuters: Online Spending Rises 5.3% on First Day of Amazon’s Prime Day

Amazon.com Stock Performance

Shares of NASDAQ AMZN opened at $242.67 on Friday. Amazon.com, Inc. has a 12-month low of $196.00 and a 12-month high of $278.56. The company has a market cap of $2.61 trillion, a PE ratio of 29.03, a P/E/G ratio of 1.81 and a beta of 1.46. The stock has a 50 day simple moving average of $254.57 and a 200-day simple moving average of $234.57. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 EPS for the quarter, beating the consensus estimate 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 firm's revenue was up 16.6% compared to the same quarter last year. During the same period last year, the firm earned $1.59 EPS. On average, equities research analysts forecast that Amazon.com, Inc. will post 7.75 EPS for the current year.

Analysts Set New Price Targets

AMZN has been the subject of several recent research reports. Barclays reaffirmed an "overweight" rating on shares of Amazon.com in a report on Tuesday, June 9th. Tigress Financial raised their price target on Amazon.com from $305.00 to $315.00 and gave the stock a "buy" rating in a report on Wednesday, March 25th. Stifel Nicolaus set a $319.00 price objective on Amazon.com and gave the company a "buy" rating in a research report on Thursday, April 30th. The Goldman Sachs Group restated a "buy" rating and set a $325.00 price objective (up from $275.00) on shares of Amazon.com in a research note on Thursday, April 30th. Finally, TD Securities raised Amazon.com to a "buy" rating in a research report on Monday, April 13th. Fifty-seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $312.79.

Insiders Place Their Bets

In related news, CEO Andrew R. Jassy sold 31,352 shares of the company's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $275.00, for a total value of $8,621,800.00. Following the completion of the sale, the chief executive officer owned 2,175,766 shares of the company's stock, valued at $598,335,650. This represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP David Zapolsky sold 9,270 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $268.53, for a total transaction of $2,489,273.10. Following the completion of the transaction, the senior vice president owned 41,190 shares of the company's stock, valued at $11,060,750.70. This represents a 18.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 195,774 shares of company stock worth $51,643,704. 8.90% of the stock is owned by company insiders.

About Amazon.com

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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