Sax Wealth Advisors LLC Buys 64,645 Shares of Amazon.com, Inc. $AMZN

Key Points

• Sax Wealth Advisors increased its Amazon stake by 149.3% during the third quarter, acquiring 64,645 shares for a total of 107,951 shares valued at approximately $26.9 million. Institutional investors collectively own 72.2% of Amazon.
• Amazon insiders sold 71,589 shares worth about $18.6 million over the past 90 days, including CEO Andrew Jassy’s 20,000-share sale under a pre-arranged Rule 10b5-1 plan.
• Analysts maintain a broadly positive view, with 56 Buy ratings and an average price target of $322.53 versus the stock’s $250 opening price. Investors are focused on AWS growth, AI spending and Amazon’s upcoming third-quarter results scheduled for October 29.

Sax Wealth Advisors LLC lifted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 149.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,951 shares of the e-commerce giant's stock after purchasing an additional 64,645 shares during the quarter. Amazon.com comprises 0.8% of Sax Wealth Advisors LLC's investment portfolio, making the stock its 24th biggest holding. Sax Wealth Advisors LLC's holdings in Amazon.com were worth $26,896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Auto Owners Insurance Co raised its stake in Amazon.com by 27,376.7% during the 4th quarter. Auto Owners Insurance Co now owns 98,448,885 shares of the e-commerce giant's stock worth $2,272,397,000 after buying an additional 98,090,585 shares during the period. Bank of America Corp DE bought a new position in Amazon.com in the second quarter worth approximately $22,218,775,000. Bank of New York Mellon Corp acquired a new stake in Amazon.com in the second quarter valued at approximately $16,341,405,000. Legal & General Group Plc acquired a new stake in Amazon.com in the second quarter valued at approximately $12,831,376,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Amazon.com in the second quarter valued at approximately $6,631,466,000. Institutional investors own 72.20% of the company's stock.

Insider Buying and Selling

In related news, CEO Andrew Jassy sold 20,000 shares of Amazon.com stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $259.01, for a total transaction of $5,180,200.00. Following the transaction, the chief executive officer owned 2,235,766 shares of the company's stock, valued at $579,085,751.66. The trade was a 0.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 company's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $259.06, for a total value of $3,766,991.46. Following the sale, the chief executive officer owned 17,794 shares of the company's stock, valued at $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. Over the last ninety days, insiders have sold 71,589 shares of company stock valued at $18,580,515. 8.90% of the stock is currently owned by company insiders.

Amazon.com Price Performance

AMZN stock opened at $250.00 on Monday. The company has a market capitalization of $2.70 trillion, a P/E ratio of 20.11, a price-to-earnings-growth ratio of 1.93 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 52-week low of $196.00 and a 52-week high of $287.20. The business has a 50-day simple moving average of $256.75 and a two-hundred day simple moving average of $251.92.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The e-commerce giant reported $5.75 EPS for the quarter, topping analysts' consensus estimates of $1.82 by $3.93. The firm had revenue of $200.61 billion during 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 company's revenue for the quarter was up 19.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.68 EPS. Research analysts expect that Amazon.com, Inc. will post 8.02 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Susquehanna restated a "positive" rating on shares of Amazon.com in a report on Tuesday, October 6th. Bank of America increased their target price on Amazon.com from $310.00 to $320.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Phillip Securities cut Amazon.com from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, August 3rd. BMO Capital Markets reissued an "outperform" rating and issued a $360.00 price target (up from $355.00) on shares of Amazon.com in a research report on Tuesday, July 28th. Finally, DA Davidson restated a "neutral" rating and set a $250.00 price target on shares of Amazon.com in a research note on Friday, July 31st. Fifty-six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $322.53.

Key Headlines Impacting Amazon.com

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

• Positive Sentiment: AWS remains the central growth and profit driver. Amazon’s cloud business grew at its fastest pace in 18 quarters during the second quarter, and investors will focus closely on whether that momentum continued. Strong AWS growth could support a higher valuation. Amazon earnings outlook
• Positive Sentiment: Analysts continue to view Amazon as a major beneficiary of AI adoption through AWS, custom chips and related products. The company’s AI initiatives could improve future cash flow, while strong holiday e-commerce demand and a growing advertising business provide additional support. Amazon AI cash flow outlook
• Positive Sentiment: Amazon’s acquisition of Bee is expanding its consumer AI strategy. New Bee Frontier and Bee Eclipse devices, along with a paid software tier, give the company new opportunities in hardware, subscriptions and AI-assisted shopping. Amazon Bee AI devices
• Neutral Sentiment: Amazon has scheduled its third-quarter results and conference call for Oct. 29. The report is likely to be the next major catalyst, particularly for AWS growth, capital expenditures, operating margins and management’s AI investment outlook. Amazon earnings announcement
• Negative Sentiment: Broad technology stocks are under pressure as inflation concerns increase expectations for higher interest rates, prompting investors to favor value and dividend-paying sectors. That market-wide rotation is weighing on mega-cap technology names, including AMZN. Technology sector decline
• Negative Sentiment: Investors remain concerned that Amazon’s roughly $220 billion AI commitment and rising capital expenditures may pressure near-term free cash flow. Capacity constraints and potentially falling AI-compute pricing add to doubts about the return on that spending.
• Negative Sentiment: Elon Musk’s proposal for an “X Shop” or “Grokazon” introduces a potential long-term competitive risk after Amazon blocked some AI shopping agents. The issue could encourage rivals to challenge Amazon’s position in agent-driven commerce. Potential Amazon rival

About Amazon.com

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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