State of New Jersey Common Pension Fund D Has $756.97 Million Holdings in Amazon.com, Inc. $AMZN

Key Points

• State of New Jersey Common Pension Fund D reduced its Amazon stake by 1.6% in the fourth quarter, selling 54,746 shares. It still held 3.28 million shares worth about $756.97 million, making Amazon its sixth-largest position.
• Wall Street remains broadly bullish on Amazon, with several analysts raising price targets and the stock carrying a consensus rating of Moderate Buy. MarketBeat data shows 57 analysts rate it Buy and the average target price is $312.66.
• Amazon’s recent earnings were strong, with $2.78 EPS beating estimates and revenue of $181.52 billion topping forecasts. The company also saw insider selling in May, including sales by CEO Douglas J. Herrington and CEO Matthew S. Garman.

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 1.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,279,462 shares of the e-commerce giant's stock after selling 54,746 shares during the period. Amazon.com makes up about 2.7% of State of New Jersey Common Pension Fund D's investment portfolio, making the stock its 6th biggest position. State of New Jersey Common Pension Fund D's holdings in Amazon.com were worth $756,965,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMZN. Lifelong Wealth Advisors Inc. increased its position in shares of Amazon.com by 2.4% during the 4th quarter. Lifelong Wealth Advisors Inc. now owns 1,740 shares of the e-commerce giant's stock worth $402,000 after purchasing an additional 41 shares in the last quarter. Financial Connections Group Inc. increased its position in shares of Amazon.com by 2.6% during the 4th quarter. Financial Connections Group Inc. now owns 1,633 shares of the e-commerce giant's stock worth $376,000 after purchasing an additional 42 shares in the last quarter. Marquette Asset Management LLC increased its position in shares of Amazon.com by 5.1% during the 4th quarter. Marquette Asset Management LLC now owns 886 shares of the e-commerce giant's stock worth $205,000 after purchasing an additional 43 shares in the last quarter. Western Financial Corp CA increased its position in shares of Amazon.com by 1.5% during the 4th quarter. Western Financial Corp CA now owns 3,076 shares of the e-commerce giant's stock worth $710,000 after purchasing an additional 44 shares in the last quarter. Finally, Cadence Wealth Management LLC increased its position in shares of Amazon.com by 3.5% during the 3rd quarter. Cadence Wealth Management LLC now owns 1,328 shares of the e-commerce giant's stock worth $292,000 after purchasing an additional 45 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Amazon.com from $290.00 to $315.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Needham & Company LLC increased their target price on shares of Amazon.com from $265.00 to $300.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Jefferies Financial Group reiterated a "buy" rating on shares of Amazon.com in a research report on Monday, May 4th. Moffett Nathanson increased their target price on shares of Amazon.com from $283.00 to $288.00 and gave the stock a "buy" rating in a research report on Tuesday, April 7th. Finally, New Street Research increased their target price on shares of Amazon.com from $280.00 to $350.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. Fifty-seven research 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 presently has a consensus rating of "Moderate Buy" and a consensus target price of $312.66.

Amazon.com Trading Down 0.8%

AMZN opened at $266.32 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $2.86 trillion, a PE ratio of 31.86, a PEG ratio of 2.01 and a beta of 1.46. Amazon.com, Inc. has a 1-year low of $196.00 and a 1-year high of $278.56. The firm has a 50-day moving average price of $239.50 and a two-hundred day moving average price of $231.86.

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

Insider Activity at Amazon.com

In other news, CEO Douglas J. Herrington sold 3,742 shares of the firm's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $262.59, for a total value of $982,611.78. Following the transaction, the chief executive officer owned 476,972 shares of the company's stock, valued at approximately $125,248,077.48. This trade represents a 0.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew S. Garman sold 11,475 shares of the firm's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $262.66, for a total transaction of $3,014,023.50. Following the completion of the transaction, the chief executive officer directly owned 11,430 shares in the company, valued at $3,002,203.80. This trade represents a 50.10% 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. Over the last 90 days, insiders have sold 201,026 shares of company stock worth $49,128,874. 8.90% of the stock is owned by insiders.

Key Stories Impacting Amazon.com

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

Amazon.com Company 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.

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