Sovran Advisors LLC Raises Stake in Amazon.com, Inc. $AMZN

Sovran Advisors LLC grew its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 10.2% in the first quarter, HoldingsChannel.com reports. The fund owned 63,579 shares of the e-commerce giant’s stock after purchasing an additional 5,885 shares during the period. Amazon.com accounts for about 1.0% of Sovran Advisors LLC’s investment portfolio, making the stock its 17th largest holding. Sovran Advisors LLC’s holdings in Amazon.com were worth $13,242,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Narwhal Capital Management lifted its holdings in Amazon.com by 2.3% during the fourth quarter. Narwhal Capital Management now owns 216,606 shares of the e-commerce giant’s stock worth $49,997,000 after buying an additional 4,854 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Amazon.com by 21.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 24,653,228 shares of the e-commerce giant’s stock valued at $5,690,463,000 after acquiring an additional 4,275,942 shares during the period. Weaver Capital Management LLC raised its position in shares of Amazon.com by 13.6% in the 4th quarter. Weaver Capital Management LLC now owns 39,264 shares of the e-commerce giant’s stock worth $9,063,000 after acquiring an additional 4,713 shares in the last quarter. Ethos Financial Group LLC raised its position in shares of Amazon.com by 9.6% in the 4th quarter. Ethos Financial Group LLC now owns 36,485 shares of the e-commerce giant’s stock worth $8,421,000 after acquiring an additional 3,196 shares in the last quarter. Finally, Culbertson A N & Co. Inc. lifted its stake in shares of Amazon.com by 8.6% during the 4th quarter. Culbertson A N & Co. Inc. now owns 30,444 shares of the e-commerce giant’s stock worth $7,027,000 after purchasing an additional 2,412 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. TD Securities upgraded shares of Amazon.com to a “buy” rating in a report on Monday, April 13th. New Street Research raised their price target on shares of Amazon.com from $280.00 to $350.00 and gave the company a “buy” rating in a report on Monday, May 4th. Monness Crespi & Hardt lifted their price objective on shares of Amazon.com from $280.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Needham & Company LLC boosted their price objective on shares of Amazon.com from $265.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, Bank of America increased their target price on shares of Amazon.com from $298.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Fifty-seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Amazon.com has an average rating of “Moderate Buy” and an average price target of $312.91.

Insider Buying and Selling at Amazon.com

In other news, SVP David Zapolsky sold 9,270 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $268.53, for a total value of $2,489,273.10. Following the transaction, the senior vice president directly owned 41,190 shares of the company’s stock, valued at approximately $11,060,750.70. This represents a 18.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew S. Garman sold 15,467 shares of Amazon.com stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $263.40, for a total value of $4,074,007.80. Following the sale, the chief executive officer directly owned 14,159 shares of the company’s stock, valued at $3,729,480.60. This trade represents a 52.21% decrease in their position. 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. In the last quarter, insiders have sold 140,425 shares of company stock worth $37,715,464. 8.90% of the stock is owned by corporate insiders.

Trending Headlines about Amazon.com

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

• Positive Sentiment: Analysts continue to see Amazon as a leading AI beneficiary, with AWS growth expected to stay strong into earnings. Amazon Viewed as Leading AI Beneficiary, AWS Acceleration Supports Buy Rating with Price Target Unchanged at $310
• Positive Sentiment: India loosened e-commerce investment rules for exports, which could help Amazon expand cross-border sales. India relaxes e-commerce investment rules for exports in win for Amazon
• Positive Sentiment: Amazon is adding games to Prime Video and integrating Luna, supporting its bundled services strategy. Amazon is bringing games to Prime Video
• Neutral Sentiment: Amazon reorganized its artificial general intelligence team, with layoffs framed as a reset to focus on higher-priority AI initiatives. Amazon cuts some jobs in its artificial general intelligence unit
• Negative Sentiment: A U.S. Senate panel is probing whether Amazon allowed Chinese influence to affect marketplace decisions, raising regulatory risk. Amazon Faces Senate Probe Over Alleged China Influence
• Negative Sentiment: Investors are questioning whether Amazon’s aggressive AI capex plans could pressure margins and earnings near term. Magnificent 7 Loses $767 Billion as AI Skeptics Dump Tech Stocks

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $233.66 on Friday. The firm has a market capitalization of $2.51 trillion, a P/E ratio of 27.95, a PEG ratio of 1.82 and a beta of 1.46. The company has a quick ratio of 1.01, a current ratio of 1.18 and a debt-to-equity ratio of 0.27. The company has a 50 day moving average price of $248.90 and a 200 day moving average price of $236.35. Amazon.com, Inc. has a 52 week low of $196.00 and a 52 week high of $278.56.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $1.15. The business had revenue of $181.52 billion during the quarter, compared to analysts’ expectations of $177.28 billion. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The business’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the company posted $1.59 earnings per share. Sell-side analysts expect that Amazon.com, Inc. will post 7.75 EPS for the current year.

About Amazon.com

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.