Amazon.com, Inc. $AMZN Position Reduced by Summit Asset Management LLC

Key Points

• Summit Asset Management LLC reduced its stake in Amazon.com by 3.0%, holding 36,047 shares worth approximately $6.86 million, making it the 20th largest position in their portfolio.
• Insider Jeffrey P. Bezos sold over 4.27 million shares of Amazon stock, valued at nearly $961 million, reducing his position by 0.47%.
• Amazon reported a quarterly EPS of $1.68, exceeding estimates, and achieved revenue of $167.7 billion, reflecting a 13.3% year-over-year increase.

Summit Asset Management LLC lowered its position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 3.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,047 shares of the e-commerce giant's stock after selling 1,130 shares during the quarter. Amazon.com accounts for approximately 1.2% of Summit Asset Management LLC's holdings, making the stock its 20th biggest holding. Summit Asset Management LLC's holdings in Amazon.com were worth $6,858,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AMZN. Prudent Man Investment Management Inc. bought a new stake in shares of Amazon.com in the 4th quarter worth about $27,000. LSV Asset Management bought a new stake in shares of Amazon.com in the 4th quarter worth about $35,000. Perritt Capital Management Inc increased its position in shares of Amazon.com by 72.7% in the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock worth $42,000 after purchasing an additional 80 shares during the last quarter. Cooksen Wealth LLC bought a new stake in shares of Amazon.com in the 1st quarter worth about $36,000. Finally, Inlight Wealth Management LLC bought a new stake in shares of Amazon.com in the 1st quarter worth about $40,000. Institutional investors and hedge funds own 72.20% of the company's stock.

Insider Activity

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of the firm's stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the transaction, the insider owned 897,722,088 shares in the company, valued at $201,816,902,603.28. This trade represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 25,012,284 shares of company stock valued at $5,656,976,492 in the last ninety days. Company insiders own 9.70% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on AMZN shares. Sanford C. Bernstein set a $235.00 target price on shares of Amazon.com and gave the stock an "outperform" rating in a research report on Tuesday, July 1st. Jefferies Financial Group boosted their target price on shares of Amazon.com from $255.00 to $265.00 in a research report on Wednesday, July 16th. Susquehanna boosted their target price on shares of Amazon.com from $225.00 to $260.00 and gave the stock a "positive" rating in a research report on Friday, August 1st. HSBC boosted their price objective on shares of Amazon.com from $240.00 to $256.00 in a research report on Tuesday, July 22nd. Finally, UBS Group reaffirmed a "buy" rating and set a $271.00 price objective (up previously from $249.00) on shares of Amazon.com in a research report on Monday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-six have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $262.87.

Amazon.com Stock Performance

NASDAQ AMZN traded up $6.89 on Friday, hitting $228.84. The stock had a trading volume of 37,264,095 shares, compared to its average volume of 46,830,960. Amazon.com, Inc. has a one year low of $161.38 and a one year 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 stock has a market cap of $2.44 trillion, a price-to-earnings ratio of 34.88, a P/E/G ratio of 1.49 and a beta of 1.31. The company's 50-day moving average is $222.63 and its two-hundred day moving average is $208.26.

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

About Amazon.com

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.