Storen Legacy Partners LLC Purchases New Position in Amazon.com, Inc. $AMZN

Key Points

• Storen Legacy Partners LLC opened a new position in Amazon during the fourth quarter, buying 6,715 shares worth about $1.55 million. The stake represents roughly 0.5% of its portfolio and is its 20th largest holding.
• Amazon continues to attract heavy institutional interest, with large holders like Vanguard, State Street, and Geode adding to positions. Overall, institutions own 72.20% of the company’s shares.
• Amazon’s latest earnings beat expectations, with quarterly EPS of $2.78 versus $1.63 estimated and revenue of $181.52 billion topping forecasts. Analysts remain bullish, with a consensus rating of Moderate Buy and an average price target of $312.78.

Storen Legacy Partners LLC acquired a new stake in Amazon.com, Inc. (NASDAQ:AMZN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,715 shares of the e-commerce giant's stock, valued at approximately $1,550,000. Amazon.com makes up about 0.5% of Storen Legacy Partners LLC's portfolio, making the stock its 20th largest position.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Amazon.com by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 832,274,556 shares of the e-commerce giant's stock worth $158,348,557,000 after buying an additional 8,913,959 shares during the last quarter. State Street Corp increased its holdings in shares of Amazon.com by 1.8% in the 4th quarter. State Street Corp now owns 388,653,121 shares of the e-commerce giant's stock valued at $89,708,913,000 after acquiring an additional 6,971,680 shares during the period. Geode Capital Management LLC boosted its stake in 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 worth $51,753,622,000 after purchasing an additional 2,479,324 shares during the period. Norges Bank acquired a new stake in Amazon.com during the 4th quarter worth $32,868,735,000. Finally, Northern Trust Corp grew its position in Amazon.com by 0.3% during the 1st quarter. Northern Trust Corp now owns 97,379,134 shares of the e-commerce giant's stock worth $18,527,354,000 after purchasing an additional 302,858 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Amazon.com Stock Performance

Shares of AMZN stock opened at $244.39 on Monday. The company has a market cap of $2.63 trillion, a price-to-earnings ratio of 29.23, a price-to-earnings-growth ratio of 1.83 and a beta of 1.45. The stock has a 50 day simple moving average of $256.51 and a 200-day simple moving average of $234.12. Amazon.com, Inc. has a 12-month low of $196.00 and a 12-month high of $278.56. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 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 business had revenue of $181.52 billion during the quarter, compared to analysts' expectations of $177.28 billion. During the same period last year, the firm earned $1.59 EPS. The company's quarterly revenue was up 16.6% compared to the same quarter last year. On average, equities analysts forecast that Amazon.com, Inc. will post 7.71 EPS for the current year.

More Amazon.com News

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

• Positive Sentiment: Analysts are increasingly bullish on Amazon’s AI and cloud positioning, with multiple firms reiterating Buy ratings and highlighting AWS as a long-term growth driver. Brian Pitz Reiterates Amazon as Top Pick, Maintains Buy Rating and $355 Price Target on Strengthening AI and Cloud Positioning
• Positive Sentiment: Amazon is reportedly exploring sales of its Trainium AI chips to external data center customers, which could open a new revenue stream and deepen its challenge to Nvidia. Amazon exploring selling its custom AI chips to data center customers
• Positive Sentiment: Prime Day is approaching, and Bank of America expects the event to drive strong sales while boosting adoption of Amazon’s AI shopping tools, including Alexa for Shopping. Bank of America Lays Out Expectations Ahead of Amazon Stock’s Prime Day
• Positive Sentiment: Amazon is investing more than €10 billion to expand its European fulfillment network, signaling continued support for e-commerce capacity and logistics efficiency. Amazon Commits €10 Billion for European fulfillment network
• Neutral Sentiment: Amazon is facing EU scrutiny over whether AWS should be classified as a “gatekeeper” under the Digital Markets Act, which could increase regulatory oversight for the cloud unit. Microsoft and Amazon Face EU Digital Markets Act Scrutiny Over Cloud Dominance
• Neutral Sentiment: Amazon MGM Studios dropped the nearly finished OpenAI film “Artificial” after the companies’ broader partnership shift, a move with limited direct financial impact but notable signaling value. Luca Guadagnino’s Sam Altman, OpenAI Film ‘Artificial’ Dropped by Amazon MGM Studios
• Negative Sentiment: Amazon is also dealing with employee and public scrutiny over AI data center expansion and labor practices, which could add regulatory and reputational pressure. Amazon investigating engineers who criticized AI data center expansion

Insiders Place Their Bets

In other Amazon.com news, SVP David Zapolsky sold 9,270 shares of the firm's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $268.53, for a total value of $2,489,273.10. Following the completion of the sale, the senior vice president owned 41,190 shares of the company's stock, valued at approximately $11,060,750.70. This trade represents a 18.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew S. Garman sold 15,467 shares of the business's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $263.40, for a total transaction of $4,074,007.80. Following the sale, the chief executive officer owned 14,159 shares in the company, valued at $3,729,480.60. The trade was a 52.21% 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. Over the last three months, insiders have sold 195,774 shares of company stock worth $51,614,434. 8.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. TD Securities upgraded shares of Amazon.com to a "buy" rating in a research note on Monday, April 13th. Wells Fargo & Company set a $312.00 target price on shares of Amazon.com and gave the stock an "overweight" rating in a research note on Wednesday, May 20th. Oppenheimer raised their price target on Amazon.com from $275.00 to $320.00 and gave the stock an "outperform" rating in a report on Thursday, April 30th. Cantor Fitzgerald restated an "overweight" rating and issued a $330.00 price target (up from $280.00) on shares of Amazon.com in a research report on Thursday, April 30th. Finally, Pivotal Research reaffirmed a "buy" rating and set a $320.00 price objective (up from $300.00) on shares of Amazon.com in a research note on Thursday, April 30th. Fifty-seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Amazon.com currently has an average rating of "Moderate Buy" and a consensus target price of $312.78.

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.