Spinnaker Investment Group LLC Has $2.31 Million Holdings in Amazon.com, Inc. $AMZN

Key Points

• Spinnaker Investment Group increased its Amazon stake by 54.9% in the second quarter, acquiring 3,429 additional shares for a total of 9,673 shares valued at approximately $2.31 million.
• Amazon reported quarterly revenue of $200.61 billion, up 19.6% year over year, and earnings of $5.75 per share, well above analyst expectations of $1.82.
• Wall Street remains bullish, with Amazon holding a “Moderate Buy” consensus rating and an average price target near $322; however, investors continue to weigh heavy AI, Prime Video and other expansion spending against near-term cash-generation and execution risks.

Spinnaker Investment Group LLC increased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 54.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,673 shares of the e-commerce giant's stock after purchasing an additional 3,429 shares during the period. Amazon.com comprises about 0.4% of Spinnaker Investment Group LLC's investment portfolio, making the stock its 28th largest position. Spinnaker Investment Group LLC's holdings in Amazon.com were worth $2,305,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Amazon.com by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 832,274,556 shares of the e-commerce giant's stock valued at $158,348,557,000 after buying an additional 8,913,959 shares in the last quarter. State Street Corp lifted its holdings in shares of Amazon.com by 1.8% during the 4th quarter. State Street Corp now owns 388,653,121 shares of the e-commerce giant's stock worth $89,708,913,000 after acquiring an additional 6,971,680 shares during the period. Geode Capital Management LLC boosted its position in shares of Amazon.com by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 225,120,994 shares of the e-commerce giant's stock valued at $51,753,622,000 after acquiring an additional 2,479,324 shares in the last quarter. Norges Bank acquired a new stake in shares of Amazon.com during the 4th quarter valued at about $32,868,735,000. Finally, Auto Owners Insurance Co boosted its position in shares of 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 valued at $2,272,397,000 after acquiring an additional 98,090,585 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Key Amazon.com News

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

• Positive Sentiment: AI and AWS remain the main bullish catalysts: Amazon is part of a group of major technology companies expected to spend approximately $615 billion on AI infrastructure this year. AWS growth, a reported $496 billion backlog and an AI annualized revenue run rate above $25 billion reinforce the view that Amazon’s capital spending could translate into stronger long-term cloud revenue. AI infrastructure spending article
• Positive Sentiment: Analyst support is strong: Rosenblatt initiated coverage with a Buy rating and a $335 price target. The broader analyst consensus remains Moderately Buy, with an average target of about $322.56, suggesting substantial potential upside if AWS growth and margins improve. Rosenblatt coverage report
• Positive Sentiment: New growth initiatives could expand Amazon’s ecosystem: Prime Video plans to invest more than $2 billion in Latin America from 2027 through 2030, while the company is targeting drone delivery in nearly 500 U.S. cities and towns. Amazon also selected Austin for a multibillion-dollar robotics facility expected to create up to 500 jobs. Prime Video Latin America investment
• Neutral Sentiment: Anthropic investment offers both strategic value and valuation uncertainty: Amazon’s stake in the AI startup could become highly valuable if reported IPO valuations hold, and Anthropic supports AWS demand. However, some analysts question whether the private company’s potential valuation is justified by its current revenue and cash generation. Anthropic valuation analysis
• Negative Sentiment: Investors are concerned about spending and near-term returns: The $2 billion Prime Video expansion adds to Amazon’s investment burden, while the market is focusing more on underlying cash generation than gains related to the rising value of Anthropic. Amazon Prime Video investment analysis
• Negative Sentiment: Competitive and execution risks remain: SpaceX’s Starlink has more than 11,000 satellites compared with Amazon Leo’s fewer than 1,000, highlighting a significant gap in the satellite broadband race. Drone deliveries also face regulatory, noise, safety and reliability hurdles, including recent delivery mishaps. Starlink and Amazon Leo comparison

Amazon.com Price Performance

NASDAQ:AMZN opened at $258.63 on Monday. The company has a quick ratio of 0.87, a current ratio of 1.03 and a debt-to-equity ratio of 0.23. The firm has a market cap of $2.79 trillion, a PE ratio of 20.81, a price-to-earnings-growth ratio of 1.72 and a beta of 1.45. Amazon.com, Inc. has a 12 month low of $196.00 and a 12 month high of $287.20. The company's 50-day moving average price is $249.86 and its two-hundred day moving average price is $239.32.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The e-commerce giant reported $5.75 earnings per share for the quarter, topping the consensus estimate of $1.82 by $3.93. Amazon.com had a net margin of 17.44% and a return on equity of 18.00%. The company had revenue of $200.61 billion during the quarter, compared to analyst estimates of $197.03 billion. During the same quarter last year, the business posted $1.68 earnings per share. The company's revenue was up 19.6% on a year-over-year basis. On average, equities analysts anticipate that Amazon.com, Inc. will post 8.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AMZN shares. TD Cowen reissued a "buy" rating and issued a $350.00 price target (up from $340.00) on shares of Amazon.com in a research report on Friday, July 31st. Truist Financial lifted their price objective on Amazon.com from $320.00 to $350.00 and gave the company a "buy" rating in a report on Friday, July 31st. JPMorgan Chase & Co. lifted their price objective on Amazon.com from $330.00 to $365.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Guggenheim reiterated a "buy" rating and issued a $320.00 price objective (up from $300.00) on shares of Amazon.com in a research note on Thursday, April 30th. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $375.00 target price (up from $335.00) on shares of Amazon.com in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, fifty-six have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Amazon.com presently has an average rating of "Moderate Buy" and an average target price of $322.39.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 3,741 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $262.76, for a total transaction of $982,985.16. Following the sale, the chief executive officer directly owned 467,138 shares in the company, valued at $122,745,180.88. This represents a 0.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 6,741 shares of company stock worth $1,767,335. 8.90% of the stock is owned by corporate insiders.

Amazon.com Profile

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source