Weatherly Asset Management L. P. Sells 4,745 Shares of Amazon.com, Inc. $AMZN

Key Points

• Weatherly Asset Management reduced its Amazon position by 2.1% in Q1, selling 4,745 shares and ending with 218,822 shares worth about $45.6 million. Amazon still remains its third-largest holding and makes up 3.7% of the portfolio.
• Amazon continues to receive strong analyst support, with 57 Buy ratings and only three Hold ratings. The stock’s consensus rating is “Moderate Buy,” and the average target price is $312.78.
• Recent insider sales included transactions by CEO Matthew S. Garman and CEO Andrew R. Jassy under pre-arranged trading plans. In the last 90 days, insiders sold 195,774 shares worth $51.6 million, while Amazon also faces some regulatory and labor overhangs despite positive business momentum.

Weatherly Asset Management L. P. lowered its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.1% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 218,822 shares of the e-commerce giant's stock after selling 4,745 shares during the period. Amazon.com comprises about 3.7% of Weatherly Asset Management L. P.'s portfolio, making the stock its 3rd biggest holding. Weatherly Asset Management L. P.'s holdings in Amazon.com were worth $45,574,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of AMZN. Brighton Jones LLC lifted its holdings in shares of Amazon.com by 10.9% in the fourth quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant's stock worth $885,478,000 after acquiring an additional 397,007 shares during the last quarter. Revolve Wealth Partners LLC increased its position in Amazon.com by 4.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant's stock worth $5,495,000 after purchasing an additional 986 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its position in Amazon.com by 2.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant's stock valued at $442,481,000 after buying an additional 54,987 shares in the last quarter. Highview Capital Management LLC DE grew its stake in shares of Amazon.com by 5.5% during the fourth quarter. Highview Capital Management LLC DE now owns 28,975 shares of the e-commerce giant's stock worth $6,357,000 after buying an additional 1,518 shares during the last quarter. Finally, Liberty Square Wealth Partners LLC acquired a new position in shares of Amazon.com during the fourth quarter worth $2,153,000. 72.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AMZN has been the topic of several recent research reports. William Blair reissued an "outperform" rating on shares of Amazon.com in a report on Thursday, April 9th. Arete Research increased their target price on Amazon.com from $301.00 to $310.00 and gave the company a "buy" rating in a research report on Monday, May 18th. Moffett Nathanson lifted their price target on Amazon.com from $283.00 to $288.00 and gave the company a "buy" rating in a research note on Tuesday, April 7th. HSBC upped their price objective on Amazon.com from $280.00 to $310.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Finally, Robert W. Baird boosted their target price on shares of Amazon.com from $285.00 to $300.00 and gave the stock an "outperform" rating in a report on Thursday, April 30th. Fifty-seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $312.78.

Insider Buying and Selling

In other Amazon.com news, CEO Matthew S. Garman sold 15,467 shares of the company's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $263.40, for a total transaction of $4,074,007.80. Following the sale, the chief executive officer owned 14,159 shares of the company's stock, valued at approximately $3,729,480.60. This represents a 52.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew R. Jassy sold 20,000 shares of Amazon.com stock in a transaction dated 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 transaction, the chief executive officer directly owned 2,205,766 shares of the company's stock, valued at approximately $581,042,879.72. This trade represents a 0.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 195,774 shares of company stock worth $51,614,434. Corporate insiders own 8.90% of the company's stock.

Key Headlines Impacting Amazon.com

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

• Positive Sentiment: Prime Day has kicked off earlier than usual and is expected to generate record online spending, with estimates above $26 billion across retailers; that could lift Amazon’s retail revenue and merchant activity. Amazon Prime Day expected to drive record $26B in online spending
• Positive Sentiment: Amazon is leaning hard into AI commerce during Prime Day, including Alexa for Shopping and new agentic ads that can place purchases automatically, which could improve engagement and show off Amazon’s AI monetization strategy. Amazon ads can make purchases for you
• Positive Sentiment: Multiple analyst-style commentaries remain bullish, citing AWS reacceleration, advertising growth, Prime subscriptions, and the possibility that Amazon’s AI chips could become an additional business line. Amazon: You Aren't Bullish Enough
• Positive Sentiment: A new AWS partnership with ArcelorMittal and another AWS deal with PennyMac highlight continued enterprise adoption of Amazon’s cloud and AI tools. Amazon teams with ArcelorMittal to bring AI into steel plants
• Neutral Sentiment: Prime Day is also being viewed as a consumer spending litmus test, with more focus on basics and household goods than discretionary splurges, so results will be important for sentiment but not clearly a direct positive or negative. Amazon Prime Day to gauge US consumer strain
• Negative Sentiment: AMZN has been caught in a broader selloff in big tech as investors worry about heavy AI capital spending and uncertain near-term returns, which has weighed on the stock despite strong fundamentals. Alphabet sinks, Amazon slides amid AI capex anxiety
• Negative Sentiment: Amazon also faces fresh labor and regulatory overhangs, including an order to bargain with Teamsters at a California fulfillment center and renewed FTC-related concern. Amazon told to negotiate with Teamsters

Amazon.com Price Performance

Amazon.com stock opened at $234.11 on Wednesday. The stock's 50 day moving average is $256.40 and its 200 day moving average is $234.12. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.01. The firm has a market cap of $2.52 trillion, a P/E ratio of 28.00, a P/E/G ratio of 1.74 and a beta of 1.45. Amazon.com, Inc. has a one year low of $196.00 and a one year high of $278.56.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $1.15. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The business had revenue of $181.52 billion during the quarter, compared to the consensus estimate of $177.28 billion. During the same quarter in the prior year, the firm posted $1.59 EPS. The company's revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, research analysts expect that Amazon.com, Inc. will post 7.71 EPS for the current year.

Amazon.com 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.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.