Tortoise Investment Management LLC Lowers Position in Amazon.com, Inc. $AMZN

Tortoise Investment Management LLC lowered its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 23.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,885 shares of the e-commerce giant's stock after selling 1,221 shares during the period. Tortoise Investment Management LLC's holdings in Amazon.com were worth $739,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC purchased a new stake in Amazon.com during the fourth quarter worth about $25,000. Cooksen Wealth LLC purchased a new stake in Amazon.com during the first quarter worth about $36,000. Inlight Wealth Management LLC purchased a new stake in Amazon.com during the first quarter worth about $40,000. Capitol Family Office Inc. purchased a new stake in shares of Amazon.com in the 1st quarter worth about $42,000. Finally, Harbor Investment Advisory LLC boosted its position in shares of Amazon.com by 0.7% in the 1st quarter. Harbor Investment Advisory LLC now owns 304,091 shares of the e-commerce giant's stock worth $58,000 after buying an additional 2,145 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Insider Buying and Selling

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of the company'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 completion of the transaction, the insider owned 897,722,088 shares of the company's stock, valued at approximately $201,816,902,603.28. This represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 25,097,911 shares of company stock worth $5,676,032,574 over the last ninety days. Corporate insiders own 9.70% of the company's stock.

Amazon.com Trading Down 0.2%

NASDAQ AMZN opened at $229.95 on Friday. Amazon.com, Inc. has a 12 month low of $161.38 and a 12 month high of $242.52. The company has a 50-day moving average of $226.77 and a 200-day moving average of $208.52. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.81. The company has a market cap of $2.45 trillion, a P/E ratio of 35.05, a P/E/G ratio of 1.54 and a beta of 1.30.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly 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 analyst estimates of $161.80 billion. During the same quarter in the prior year, the business posted $1.26 earnings per share. Amazon.com's revenue for the quarter was up 13.3% compared to the same quarter last year. Amazon.com has set its Q3 2025 guidance at EPS. As a group, equities analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Westpark Capital reaffirmed a "buy" rating and issued a $280.00 price target on shares of Amazon.com in a report on Friday, August 1st. Cantor Fitzgerald upped their price target on shares of Amazon.com from $260.00 to $280.00 and gave the company an "overweight" rating in a report on Friday, August 1st. BMO Capital Markets upped their price target on shares of Amazon.com from $270.00 to $280.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $280.00 price target on shares of Amazon.com in a report on Friday, August 1st. Finally, Piper Sandler upped their price target on shares of Amazon.com from $250.00 to $255.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, forty-six have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Amazon.com currently has an average rating of "Buy" and a consensus price target of $262.87.

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.