Tocqueville Asset Management L.P. Takes Position in Amazon.com, Inc. $AMZN

Key Points

• Tocqueville Asset Management acquired 668,849 Amazon shares worth approximately $159.4 million in the second quarter, making Amazon its eighth-largest holding and representing about 2.1% of its portfolio. Institutional investors collectively own 72.2% of Amazon’s stock.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $323.26. Recent targets ranged from $325 to $390, while Amazon’s latest quarterly results exceeded expectations with $5.75 in EPS and $200.61 billion in revenue.
• Amazon shares opened at $248.42, down 2.0%, while insiders sold $18.6 million of stock over the past quarter. CEO Matthew Garman and CFO Brian Olsavsky both made sales under pre-arranged Rule 10b5-1 trading plans.

Tocqueville Asset Management L.P. acquired a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 668,849 shares of the e-commerce giant's stock, valued at approximately $159,413,000. Amazon.com comprises about 2.1% of Tocqueville Asset Management L.P.'s portfolio, making the stock its 8th largest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Kelman Lazarov Inc. bought a new position in Amazon.com in the second quarter valued at $1,146,000. Turim 21 Investimentos Ltda. bought a new position in shares of Amazon.com during the 2nd quarter valued at about $24,220,000. one8zero8 LLC bought a new position in shares of Amazon.com during the 2nd quarter valued at about $10,440,000. Kentucky Farm Bureau Mutual Insurance Co purchased a new position in shares of Amazon.com during the 2nd quarter valued at about $10,844,000. Finally, Addison Advisors LLC bought a new stake in Amazon.com in the 2nd quarter worth approximately $694,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Amazon.com news, CFO Brian T. Olsavsky sold 6,172 shares of the firm's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $260.31, for a total transaction of $1,606,633.32. Following the completion of the sale, the chief financial officer directly owned 109,207 shares in the company, valued at approximately $28,427,674.17. This trade represents a 5.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew Garman sold 14,541 shares of the business's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $259.06, for a total value of $3,766,991.46. Following the completion of the transaction, the chief executive officer owned 17,794 shares of the company's stock, valued at $4,609,713.64. This represents a 44.97% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 71,589 shares of company stock worth $18,568,785 over the last quarter. Company insiders own 8.90% of the company's stock.

Analysts Set New Price Targets

AMZN has been the subject of several research reports. Truist Financial upped their target price on Amazon.com from $320.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Zacks Research upgraded shares of Amazon.com from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $325.00 price objective (up from $315.00) on shares of Amazon.com in a research note on Friday, July 31st. Raymond James Financial reaffirmed an "outperform" rating and set a $390.00 target price (up from $280.00) on shares of Amazon.com in a report on Friday, July 31st. Finally, Rosenblatt Securities started coverage on shares of Amazon.com in a research report on Thursday, August 20th. They issued a "buy" rating and a $335.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fifty-six have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $323.26.

Amazon.com Trading Down 2.0%

NASDAQ:AMZN opened at $248.42 on Wednesday. The company has a fifty day moving average of $255.80 and a 200 day moving average of $244.98. Amazon.com, Inc. has a 52 week low of $196.00 and a 52 week high of $287.20. 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 capitalization of $2.68 trillion, a P/E ratio of 19.99, a P/E/G ratio of 1.95 and a beta of 1.44.

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

Trending Headlines about Amazon.com

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

• Positive Sentiment: Large AI infrastructure commitments support AWS growth. Amazon reportedly could purchase up to $60 billion of Qualcomm AI chips, while its partnership with Wiwynn will expand U.S. server manufacturing capacity and create nearly 1,000 jobs. These developments reinforce Amazon’s long-term investment in cloud and artificial-intelligence infrastructure. Amazon Could Buy Up to $60 Billion From Qualcomm
• Positive Sentiment: Anthropic stake and operating outlook remain potential value drivers. Reports that Anthropic expects a second consecutive quarter of adjusted operating profit—and could pursue a valuation of as much as $2 trillion—highlight the potential value of Amazon’s roughly $13 billion investment in the AI developer. Anthropic Expects a Second Straight Quarter of Adjusted Operating Profit
• Positive Sentiment: Retail and advertising initiatives offer additional support. Amazon India’s rapid-delivery service reportedly surpassed $1 billion in annualized sales, and the company scheduled Prime Big Deal Days for October 6–7. Amazon also expanded its advertising reach through a pilot with ChatGPT. Amazon India’s Amazon Now Tops $1 Billion
• Neutral Sentiment: Analysts remain broadly optimistic. Coverage indicates Amazon has no sell ratings and continued confidence in earnings, cash flow and AWS growth, although bullish ratings have not prevented near-term volatility. Is It Worth Investing in Amazon Based on Wall Street’s Bullish Views?
• Negative Sentiment: AWS cannot restore access to damaged facilities in Bahrain and the UAE. The prolonged loss of access to customer data and cloud availability zones raises concerns about service resilience, customer retention, potential costs and reputational damage. This was the most direct company-specific pressure on AMZN. AWS Unable to Restore Access After War Damage
• Negative Sentiment: Macro and competitive pressures weighed on technology stocks. Investors prepared for a Federal Reserve rate decision amid higher yields and oil prices, while commentary suggested AWS cloud growth is lagging Microsoft Azure and Google Cloud in AI. Amazon also paused operations with 21 Air after a fatal cargo-plane crash, adding logistics and reputational risk. Amazon Stock Slides: What’s Happening?

Amazon.com Company Profile

Amazon.com, Inc is a global technology and e-commerce company that operates online marketplaces and provides a broad range of consumer products and services. Its retail business sells merchandise directly to customers and enables third-party sellers to offer products through Amazon's websites and applications. The company also operates physical stores and provides services such as digital content, subscriptions, and consumer devices, including Kindle and Echo products.

Amazon Web Services (AWS) provides cloud computing, storage, database, analytics, artificial intelligence, machine learning, and other technology services to businesses, governments, and organizations.

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