Robertson Stephens Wealth Management LLC Increases Holdings in Amazon.com, Inc. $AMZN

Key Points

• Robertson Stephens Wealth Management increased its Amazon stake by 21.6% in the fourth quarter, adding 29,660 shares and bringing its total holding to 166,935 shares valued at about $38.5 million.
• Amazon reported a strong quarter, with EPS of $2.78 versus the $1.63 estimate and revenue of $181.52 billion, topping expectations and rising 16.6% year over year.
• Wall Street remains broadly bullish on AMZN: analysts have a consensus rating of Moderate Buy with an average price target of $312.66, even as some insiders have recently sold shares.

Robertson Stephens Wealth Management LLC lifted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 21.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 166,935 shares of the e-commerce giant's stock after buying an additional 29,660 shares during the period. Amazon.com comprises 1.0% of Robertson Stephens Wealth Management LLC's investment portfolio, making the stock its 17th largest position. Robertson Stephens Wealth Management LLC's holdings in Amazon.com were worth $38,532,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AMZN. Norges Bank purchased a new position in shares of Amazon.com during the 2nd quarter valued at about $27,438,011,000. Nuveen LLC purchased a new position in shares of Amazon.com during the 1st quarter valued at about $11,674,091,000. Laurel Wealth Advisors LLC raised its holdings in shares of Amazon.com by 22,085.8% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 12,177,557 shares of the e-commerce giant's stock valued at $2,671,634,000 after buying an additional 12,122,668 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Amazon.com by 21.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 57,908,424 shares of the e-commerce giant's stock valued at $11,017,657,000 after buying an additional 10,176,835 shares in the last quarter. Finally, Capital Research Global Investors raised its holdings in shares of Amazon.com by 11.3% during the 3rd quarter. Capital Research Global Investors now owns 94,284,962 shares of the e-commerce giant's stock valued at $20,702,362,000 after buying an additional 9,583,217 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Price Performance

Shares of Amazon.com stock opened at $266.32 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.01. Amazon.com, Inc. has a one year low of $196.00 and a one year high of $278.56. The stock has a market capitalization of $2.86 trillion, a P/E ratio of 31.86, a price-to-earnings-growth ratio of 1.99 and a beta of 1.46. The business's 50 day simple moving average is $239.50 and its two-hundred day simple moving average is $231.70.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $1.15. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The firm had revenue of $181.52 billion for the quarter, compared to analysts' expectations of $177.28 billion. During the same period in the previous year, the firm earned $1.59 earnings per share. The business's revenue was up 16.6% compared to the same quarter last year. Analysts forecast that Amazon.com, Inc. will post 7.71 EPS for the current year.

Insider Activity

In other news, CEO Douglas J. Herrington sold 27,500 shares of the business's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $275.00, for a total transaction of $7,562,500.00. Following the transaction, the chief executive officer directly owned 471,361 shares of the company's stock, valued at approximately $129,624,275. The trade was a 5.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jonathan Rubinstein sold 3,849 shares of the business's stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $260.00, for a total value of $1,000,740.00. Following the transaction, the director directly owned 78,654 shares in the company, valued at $20,450,040. This trade represents a 4.67% decrease in their ownership of the stock. 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 146,773 shares of company stock valued at $37,989,011. 8.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AMZN has been the topic of a number of research reports. Piper Sandler reissued an "overweight" rating and set a $315.00 price objective (up from $260.00) on shares of Amazon.com in a report on Thursday, April 30th. Monness Crespi & Hardt raised their price objective on Amazon.com from $280.00 to $315.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Wedbush decreased their price target on Amazon.com from $340.00 to $300.00 and set an "outperform" rating on the stock in a research note on Friday, February 6th. HSBC lifted their price target on Amazon.com from $280.00 to $310.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Finally, Phillip Securities raised Amazon.com from a "moderate buy" rating to a "buy" rating and set a $280.00 price target on the stock in a research note on Wednesday, May 13th. Fifty-seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $312.66.

More Amazon.com News

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

• Positive Sentiment: Bank of America reiterated a Buy rating and raised its price target to $310, saying Amazon’s AI-powered shopping tools could help defend and expand its retail franchise. BofA Pounds the Table on Amazon (AMZN) Stock, Sets $310 Price Target
• Positive Sentiment: Analysts and market commentary highlighted Amazon’s breakout above key technical levels and said the stock remains in a bullish setup, which can attract momentum buyers. Amazon (AMZN) Recently Broke Out Above the 20-Day Moving Average
• Positive Sentiment: Recent coverage from multiple outlets pointed to Amazon’s AI initiatives, including Alexa for Shopping, as a potential long-term growth driver for retail and advertising. Amazon's Alexa for Shopping seen driving long-term retail growth
• Positive Sentiment: Jeff Bezos and other supporters defended heavy AI spending, and Bill Ackman reportedly added to Amazon, reinforcing the idea that major investors still see upside in the stock. Billionaire Bill Ackman Piled Into Amazon and Microsoft and Slashed His Fund's Mammoth Stake in This AI Kingpin by 95%
• Neutral Sentiment: Amazon shareholders re-elected the board and approved the existing pay and governance framework, signaling continuity rather than a major corporate change. Amazon Shareholders Back Board, Pay and Governance Status Quo
• Negative Sentiment: Amazon also faced fresh criticism from U.K. lawmakers over delivery practices, which could add regulatory pressure to the company’s logistics and marketplace operations. Amazon (AMZN) Hit with New Accusation From U.K. Lawmakers

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.

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.