Sonora Investment Management Group LLC Acquires 1,721 Shares of Amazon.com, Inc. $AMZN

Key Points

• Sonora Investment Management Group LLC increased its holdings in Amazon.com, Inc. by 1.5%, acquiring an additional 1,721 shares during the second quarter, bringing its total ownership to 118,084 shares valued at approximately $25.9 million.
• Several analysts have revised their price targets for Amazon.com, with Wolfe Research setting a new target at $270.00 and Wells Fargo upgrading their rating to "overweight" with a target of $280.00.
• In the last 90 days, insiders sold approximately 14 million shares of Amazon's stock, amounting to a total value of about $3.2 billion, indicating significant insider selling activity.

Sonora Investment Management Group LLC grew its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 1.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 118,084 shares of the e-commerce giant's stock after buying an additional 1,721 shares during the quarter. Amazon.com accounts for about 1.9% of Sonora Investment Management Group LLC's investment portfolio, making the stock its 14th biggest position. Sonora Investment Management Group LLC's holdings in Amazon.com were worth $25,906,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AMZN. Brighton Jones LLC grew its stake in shares of Amazon.com by 10.9% during the fourth quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant's stock valued at $885,478,000 after buying an additional 397,007 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Amazon.com by 4.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant's stock valued at $5,495,000 after acquiring an additional 986 shares in the last quarter. Bank Pictet & Cie Europe AG raised its stake in shares of Amazon.com by 2.8% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant's stock valued at $442,481,000 after acquiring an additional 54,987 shares in the last quarter. Highview Capital Management LLC DE raised its stake in shares of Amazon.com by 5.5% during the fourth quarter. Highview Capital Management LLC DE now owns 28,975 shares of the e-commerce giant's stock valued at $6,357,000 after acquiring an additional 1,518 shares in the last quarter. Finally, Liberty Square Wealth Partners LLC bought a new stake in shares of Amazon.com during the fourth quarter valued at approximately $2,153,000. Institutional investors own 72.20% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wolfe Research lifted their price target on shares of Amazon.com from $265.00 to $270.00 in a research note on Tuesday, September 30th. Susquehanna lifted their price target on shares of Amazon.com from $225.00 to $260.00 and gave the company a "positive" rating in a research note on Friday, August 1st. Wells Fargo & Company raised shares of Amazon.com from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $245.00 to $280.00 in a research note on Wednesday, September 24th. Zacks Research downgraded shares of Amazon.com from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. Finally, Monness Crespi & Hardt lifted their price target on shares of Amazon.com from $265.00 to $275.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Three analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $266.26.

Amazon.com Stock Performance

Shares of NASDAQ:AMZN opened at $216.37 on Friday. The company has a market capitalization of $2.31 trillion, a price-to-earnings ratio of 32.98, a price-to-earnings-growth ratio of 1.43 and a beta of 1.28. Amazon.com, Inc. has a 52 week low of $161.38 and a 52 week high of $242.52. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average of $225.94 and a 200 day moving average of $211.90.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.31 by $0.37. The business had revenue of $167.70 billion for the quarter, compared to the consensus estimate of $161.80 billion. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%.The business's quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.26 earnings per share. Amazon.com has set its Q3 2025 guidance at EPS. On average, sell-side analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other news, CFO Brian T. Olsavsky sold 17,750 shares of the company's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $222.74, for a total transaction of $3,953,635.00. Following the transaction, the chief financial officer directly owned 49,000 shares of the company's stock, valued at approximately $10,914,260. This represents a 26.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Matthew S. Garman sold 17,785 shares of the company's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $221.57, for a total value of $3,940,622.45. Following the transaction, the chief executive officer directly owned 3,138 shares in the company, valued at approximately $695,286.66. The trade was a 85.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,040,098 shares of company stock valued at $3,204,129,405. Corporate insiders own 9.70% of the company's stock.

Amazon.com Profile

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.