Riverbridge Partners LLC Reduces Holdings in Amazon.com, Inc. $AMZN

Riverbridge Partners LLC cut its position in Amazon.com, Inc. (NASDAQ:AMZN) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 607,766 shares of the e-commerce giant’s stock after selling 24,592 shares during the quarter. Amazon.com makes up approximately 2.6% of Riverbridge Partners LLC’s investment portfolio, making the stock its 8th largest holding. Riverbridge Partners LLC’s holdings in Amazon.com were worth $140,285,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Fairway Wealth LLC raised its stake in shares of Amazon.com by 113.2% during the 3rd quarter. Fairway Wealth LLC now owns 113 shares of the e-commerce giant’s stock worth $25,000 after acquiring an additional 60 shares in the last quarter. Sellwood Investment Partners LLC acquired a new stake in Amazon.com in the third quarter valued at approximately $27,000. Bridge Generations Wealth Management LLC boosted its stake in Amazon.com by 2,330.0% in the third quarter. Bridge Generations Wealth Management LLC now owns 243 shares of the e-commerce giant’s stock valued at $53,000 after acquiring an additional 233 shares in the last quarter. Cooksen Wealth LLC grew its holdings in Amazon.com by 23.5% in the second quarter. Cooksen Wealth LLC now owns 247 shares of the e-commerce giant’s stock worth $54,000 after purchasing an additional 47 shares during the last quarter. Finally, PayPay Securities Corp increased its position in shares of Amazon.com by 62.3% during the third quarter. PayPay Securities Corp now owns 250 shares of the e-commerce giant’s stock worth $55,000 after purchasing an additional 96 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP David Zapolsky sold 10,649 shares of the company’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $205.43, for a total value of $2,187,624.07. Following the sale, the senior vice president directly owned 41,190 shares of the company’s stock, valued at $8,461,661.70. This represents a 20.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew R. Jassy sold 19,872 shares of the stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $205.18, for a total transaction of $4,077,336.96. Following the completion of the sale, the chief executive officer owned 2,238,118 shares in the company, valued at $459,217,051.24. The trade was a 0.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 71,686 shares of company stock worth $14,688,739 in the last quarter. 9.70% of the stock is currently owned by corporate insiders.

Amazon.com Stock Up 1.1%

Amazon.com stock opened at $210.57 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.88 and a current ratio of 1.05. The business’s 50-day simple moving average is $214.78 and its two-hundred day simple moving average is $224.63. The company has a market cap of $2.26 trillion, a PE ratio of 29.37, a PEG ratio of 1.56 and a beta of 1.38. Amazon.com, Inc. has a fifty-two week low of $161.38 and a fifty-two week high of $258.60.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, February 5th. The e-commerce giant reported $1.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.97 by ($0.02). Amazon.com had a return on equity of 21.87% and a net margin of 10.83%.The firm had revenue of $213.39 billion during the quarter, compared to analysts’ expectations of $211.02 billion. During the same quarter in the previous year, the business earned $1.86 earnings per share. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. Equities analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current year.

Analysts Set New Price Targets

AMZN has been the subject of several analyst reports. Citigroup increased their price objective on Amazon.com from $265.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, March 25th. Oppenheimer set a $260.00 target price on Amazon.com and gave the company an “outperform” rating in a research report on Friday, February 6th. Arete Research increased their price target on Amazon.com from $283.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Argus restated a “buy” rating and set a $325.00 price target on shares of Amazon.com in a research note on Friday, February 6th. Finally, Truist Financial cut their price objective on shares of Amazon.com from $290.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, fifty-three have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $286.57.

Amazon.com News Roundup

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

• Positive Sentiment: Big AI vote of confidence — Amazon was a backer in OpenAI’s record $122B funding round, which supports higher AWS demand for model training and inference and strengthens Amazon’s AI/cloud narrative. Amazon Goes Big on OpenAI’s Record Fund Raise. ChatGPT Parent Worth $852 Billion Ahead of IPO.
• Positive Sentiment: Commercial win for Amazon Leo — Delta agreed to equip hundreds of planes with Amazon’s LEO satellite service starting in 2028, a tangible revenue & distribution milestone for Amazon’s satellite initiative versus Starlink. Amazon, Delta team up for in-flight Wi-Fi, challenging Musk’s Starlink
• Positive Sentiment: Wall Street and notable funds are bullish — Citi raised its AMZN price target and high?profile managers (Druckenmiller, Dalio, Citadel, D.E. Shaw mentions) have increased or maintained stakes, supporting sentiment and upside expectations for AWS-driven growth. Citi Raises Target Price for Amazon.com (AMZN)
• Positive Sentiment: Fintech expansion — Amazon is launching new small?business credit cards with U.S. Bank/Mastercard, which can boost payments revenue and SMB engagement over time. Amazon to launch new small business credit cards in partnership with U.S. Bank, Mastercard
• Positive Sentiment: Operational/legal tail risk reduced — Amazon settled a Teamsters case alleging retaliation against striking workers, removing a potential labor overhang. Amazon settles Teamsters case alleging it retaliated against striking workers
• Neutral Sentiment: Strategic M&A talks — Reports say Amazon is in talks to buy Globalstar for about $9B to accelerate satellite capacity; strategically meaningful but will require capital and regulatory scrutiny. Amazon in talks to buy $9 billion satellite group Globalstar, FT reports
• Negative Sentiment: Data?center attack risk — FT/Reuters report Amazon’s cloud operations in Bahrain were damaged in an Iranian strike and another data center was hit by a drone attack, highlighting geopolitical/availability risks to AWS revenue and costs. Amazon’s cloud business in Bahrain damaged in Iran strike, FT reports
• Negative Sentiment: Ad product test underwhelms — Amazon’s new chatbot?embedded ads reportedly showed weak early results, which could slow ad revenue upside if broader rollout is delayed or reworked. Amazon (AMZN) Tests New Chatbot Ads, but Early Results Are Weak
• Negative Sentiment: Key talent loss & bearish research — Reports of a departing AI chip executive and a pessimistic New Street Research forecast add execution and sentiment risk for AMZN’s AI/hardware ambitions. Amazon Just Lost a Key AI Chip Executive. Is That Bad News for AMZN Stock? New Street Research Issues Pessimistic Forecast for Amazon.com (NASDAQ:AMZN) Stock Price

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.