Venturi Wealth Management LLC Sells 2,947 Shares of Amazon.com, Inc. $AMZN

Key Points

• Venturi Wealth Management cut its Amazon stake by 3.1% in the first quarter, selling 2,947 shares and ending with 90,819 shares worth about $18.9 million.
• Amazon reported strong first-quarter results, with EPS of $2.78 beating estimates and revenue of $181.52 billion topping expectations, while revenue rose 16.6% year over year.
• Wall Street remains upbeat on AMZN: analysts mostly rate it a Buy, and the consensus target price is $312.79, even as some company insiders recently sold shares.

Venturi Wealth Management LLC decreased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 3.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,819 shares of the e-commerce giant's stock after selling 2,947 shares during the period. Venturi Wealth Management LLC's holdings in Amazon.com were worth $18,915,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Amazon.com during the fourth quarter valued at approximately $32,868,735,000. Auto Owners Insurance Co increased its stake in Amazon.com by 27,376.7% in 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 last quarter. J. Stern & Co. LLP increased its stake in Amazon.com by 20,598.0% in the 4th quarter. J. Stern & Co. LLP now owns 87,982,814 shares of the e-commerce giant's stock worth $20,308,193,000 after acquiring an additional 87,557,736 shares during the last quarter. Nuveen LLC bought a new stake in Amazon.com in the 1st quarter worth approximately $11,674,091,000. Finally, Cardano Risk Management B.V. raised its holdings in shares of Amazon.com by 879.4% during the 4th quarter. Cardano Risk Management B.V. now owns 27,862,400 shares of the e-commerce giant's stock worth $6,431,199,000 after acquiring an additional 25,017,588 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

Amazon.com Stock Performance

NASDAQ AMZN opened at $242.67 on Friday. The company has a market cap of $2.61 trillion, a P/E ratio of 29.03, a P/E/G ratio of 1.81 and a beta of 1.46. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.18. The business's 50 day moving average price is $254.57 and its 200-day moving average price is $234.57. Amazon.com, Inc. has a fifty-two week low of $196.00 and a fifty-two week high of $278.56.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share 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 quarter in the prior year, the firm posted $1.59 EPS. Sell-side analysts predict that Amazon.com, Inc. will post 7.75 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AMZN. KeyCorp increased their target price on Amazon.com from $325.00 to $330.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Benchmark boosted their price target on shares of Amazon.com from $275.00 to $370.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Weiss Ratings raised shares of Amazon.com from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 6th. Monness Crespi & Hardt increased their price objective on shares of Amazon.com from $280.00 to $315.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Finally, Wolfe Research reissued an "outperform" rating and issued a $320.00 price objective (up from $245.00) on shares of Amazon.com in a research note on Thursday, April 30th. Fifty-seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $312.79.

Insider Activity

In other news, CEO Andrew R. Jassy sold 31,352 shares of the firm's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $275.00, for a total value of $8,621,800.00. Following the completion of the sale, the chief executive officer owned 2,175,766 shares in the company, valued at approximately $598,335,650. This trade represents a 1.42% decrease in their position. 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 Douglas J. Herrington sold 27,500 shares of Amazon.com stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $275.00, for a total transaction of $7,562,500.00. Following the transaction, the chief executive officer directly owned 471,361 shares of the company's stock, valued at approximately $129,624,275. This represents a 5.51% 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 three months, insiders have sold 195,774 shares of company stock worth $51,643,704. 8.90% of the stock is currently owned by insiders.

Trending Headlines about Amazon.com

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

• Positive Sentiment: Amazon said its Leo satellite network has enough satellites to begin initial broadband service this year, opening a new growth opportunity in satellite internet. Reuters: Amazon to start initial Leo internet service this year as network nears 400 satellites
• Positive Sentiment: Amazon is expanding its AI strategy with custom device chips and broader AWS AI capabilities, which could support future margins and growth. CNBC: Amazon is designing its own AI chips for Echo, Fire TV and future devices
• Positive Sentiment: Prime Day-related reports pointed to strong online shopping demand, reinforcing confidence in Amazon’s retail momentum heading into earnings. Yahoo Finance/Reuters: Online Spending Rises 5.3% on First Day of Amazon’s Prime Day

Amazon.com Company 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.

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