Summit Wealth Partners LLC Raises Holdings in Amazon.com, Inc. $AMZN

Key Points

• Summit Wealth Partners LLC boosted its Amazon stake by 337.8% in the first quarter, ending with 25,101 shares worth about $5.23 million.
• Amazon reported strong quarterly results, with EPS of $2.78 versus the $1.63 estimate and revenue of $181.52 billion, topping expectations and rising 16.6% year over year.
• Despite some insider selling, analysts remain broadly upbeat: 57 analysts rate AMZN a Buy, and the consensus price target stands at $312.78.

Summit Wealth Partners LLC grew its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 337.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,101 shares of the e-commerce giant's stock after acquiring an additional 19,368 shares during the quarter. Summit Wealth Partners LLC's holdings in Amazon.com were worth $5,228,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank purchased a new position in Amazon.com in the 4th quarter worth $32,868,735,000. Auto Owners Insurance Co lifted its position in 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 worth $2,272,397,000 after acquiring an additional 98,090,585 shares during the period. J. Stern & Co. LLP grew its stake in Amazon.com by 20,598.0% during the 4th quarter. J. Stern & Co. LLP now owns 87,982,814 shares of the e-commerce giant's stock valued at $20,308,193,000 after purchasing an additional 87,557,736 shares during the last quarter. Nuveen LLC acquired a new position in shares of Amazon.com in the first quarter valued at about $11,674,091,000. Finally, Cardano Risk Management B.V. increased its holdings in shares of Amazon.com by 879.4% in the fourth quarter. Cardano Risk Management B.V. now owns 27,862,400 shares of the e-commerce giant's stock valued at $6,431,199,000 after purchasing an additional 25,017,588 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Stock Performance

NASDAQ AMZN opened at $232.69 on Friday. The stock has a market capitalization of $2.50 trillion, a price-to-earnings ratio of 27.83, a PEG ratio of 1.74 and a beta of 1.44. The stock has a 50-day moving average of $255.53 and a 200 day moving average of $234.13. 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, Inc. has a twelve month low of $196.00 and a twelve month high of $278.56.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $181.52 billion for the quarter, compared to analyst estimates of $177.28 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.Amazon.com's quarterly revenue was up 16.6% compared to the same quarter last year. During the same period last year, the company earned $1.59 earnings per share. Sell-side analysts anticipate that Amazon.com, Inc. will post 7.71 EPS for the current fiscal year.

Insiders Place Their Bets

In other Amazon.com news, CEO Andrew R. Jassy sold 20,000 shares of the company's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $263.42, for a total value of $5,268,400.00. Following the completion of the sale, the chief executive officer directly owned 2,205,766 shares in the company, valued at $581,042,879.72. This represents a 0.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 directly owned 41,190 shares of the company's stock, valued at $11,060,750.70. This trade represents a 18.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 195,774 shares of company stock valued at $51,614,434. Insiders own 8.90% of the company's stock.

Key Amazon.com News

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

• Positive Sentiment: Amazon Web Services raised prices on certain AI GPU and capacity-block offerings, which suggests strong demand and improved pricing power for its cloud business. Article Title
• Positive Sentiment: Amazon said it will invest an additional $13 billion in India through 2030 to expand AI and cloud infrastructure, reinforcing long-term growth ambitions in a key market. Article Title
• Positive Sentiment: Prime Day appears to be generating strong demand, with reports pointing to record sales expectations and early momentum from AI-driven shopping activity. Article Title
• Positive Sentiment: Several analysts reiterated bullish views, including Wells Fargo and BMO Capital, signaling continued confidence in Amazon’s cloud, advertising, and AI-driven earnings power. Article Title
• Neutral Sentiment: Media coverage also highlighted Amazon as a stock that hedge funds and prominent investors continue to own heavily, but these are not immediate fundamental catalysts. Article Title
• Negative Sentiment: Some articles pointed to ongoing concerns about Amazon’s heavy capex, insider selling, and the stock breaking below key technical levels, which may be limiting gains. Article Title
• Negative Sentiment: Separately, EU regulators said Amazon’s cloud business may face stricter competition rules, adding a potential overhang for AWS. Article Title

Analyst Ratings Changes

A number of brokerages recently commented on AMZN. Guggenheim reiterated a "buy" rating and issued a $320.00 target price (up from $300.00) on shares of Amazon.com in a research report on Thursday, April 30th. Royal Bank Of Canada restated a "buy" rating on shares of Amazon.com in a research note on Tuesday, June 16th. New Street Research increased their price objective on shares of Amazon.com from $280.00 to $350.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. DZ Bank raised their target price on shares of Amazon.com from $295.00 to $320.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Finally, Moffett Nathanson boosted their target price on shares of Amazon.com from $283.00 to $288.00 and gave the company a "buy" rating in a research report on Tuesday, April 7th. Fifty-seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $312.78.

About Amazon.com

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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