Voya Investment Management LLC Sells 1,787,697 Shares of Amazon.com, Inc. $AMZN

Key Points

• Voya Investment Management LLC sold 1,787,697 shares of Amazon.com, reducing its stake by 13.5%, leaving them with 11,453,690 shares, which represent about 2.4% of their investment portfolio.
• Various hedge funds have been adjusting their stakes in Amazon, with Bare Financial Services Inc increasing its position by 5.4% in Q1.
• Multiple analysts have raised their price targets for Amazon.com, with Wedbush increasing it to $250.00, while Scotiabank set a target of $275.00, indicating strong market confidence in the stock.

Voya Investment Management LLC lessened its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 13.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,453,690 shares of the e-commerce giant's stock after selling 1,787,697 shares during the quarter. Amazon.com comprises about 2.4% of Voya Investment Management LLC's investment portfolio, making the stock its 4th biggest holding. Voya Investment Management LLC owned 0.11% of Amazon.com worth $2,177,833,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in AMZN. Bare Financial Services Inc lifted its stake in shares of Amazon.com by 5.4% in the 1st quarter. Bare Financial Services Inc now owns 930 shares of the e-commerce giant's stock valued at $177,000 after purchasing an additional 48 shares during the last quarter. Talisman Wealth Advisors LLC lifted its stake in shares of Amazon.com by 1.2% in the 4th quarter. Talisman Wealth Advisors LLC now owns 4,647 shares of the e-commerce giant's stock valued at $1,020,000 after purchasing an additional 53 shares during the last quarter. SWAN Capital LLC lifted its stake in shares of Amazon.com by 3.1% in the 4th quarter. SWAN Capital LLC now owns 1,804 shares of the e-commerce giant's stock valued at $396,000 after purchasing an additional 55 shares during the last quarter. Hamel Associates Inc. lifted its position in Amazon.com by 1.4% during the 1st quarter. Hamel Associates Inc. now owns 4,100 shares of the e-commerce giant's stock worth $780,000 after acquiring an additional 55 shares during the last quarter. Finally, Clifford Group LLC lifted its position in Amazon.com by 0.4% during the 1st quarter. Clifford Group LLC now owns 13,605 shares of the e-commerce giant's stock worth $2,589,000 after acquiring an additional 55 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wedbush boosted their target price on shares of Amazon.com from $235.00 to $250.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Scotiabank lifted their target price on Amazon.com from $250.00 to $275.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, July 22nd. 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. Telsey Advisory Group reissued an "outperform" rating and set a $265.00 price objective on shares of Amazon.com in a report on Wednesday, August 13th. Finally, BNP Paribas raised Amazon.com from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. Two research analysts have rated the stock with a Strong Buy rating, forty-six have issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Amazon.com currently has a consensus rating of "Buy" and a consensus target price of $262.87.

Insiders Place Their Bets

In related news, CFO Brian T. Olsavsky sold 17,750 shares of the business's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $222.74, for a total value of $3,953,635.00. Following the sale, the chief financial officer owned 49,000 shares of the company's stock, valued at $10,914,260. The trade was a 26.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew R. Jassy sold 19,872 shares of the business's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $221.58, for a total value of $4,403,237.76. Following the completion of the sale, the chief executive officer directly owned 2,178,502 shares in the company, valued at approximately $482,712,473.16. This represents a 0.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,097,911 shares of company stock worth $5,676,032,574 over the last quarter. Corporate insiders own 10.80% of the company's stock.

Amazon.com Price Performance

Shares of AMZN stock opened at $231.43 on Tuesday. The stock's fifty day simple moving average is $227.03 and its 200 day simple moving average is $208.71. 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 firm has a market cap of $2.47 trillion, a price-to-earnings ratio of 35.28, a P/E/G ratio of 1.53 and a beta of 1.31. Amazon.com, Inc. has a one year low of $161.38 and a one year high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 EPS for the quarter, beating the consensus estimate of $1.31 by $0.37. The business had revenue of $167.70 billion for the quarter, compared to analyst estimates of $161.80 billion. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%.Amazon.com's quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.26 EPS. 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 fiscal year.

Amazon.com Profile

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.

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.