Amazon.com, Inc. $AMZN Stock Sold by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 5.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,652 shares of the e-commerce giant’s stock after selling 4,204 shares during the period. Amazon.com accounts for approximately 1.9% of SeaCrest Wealth Management LLC’s investment portfolio, making the stock its 8th biggest position. SeaCrest Wealth Management LLC’s holdings in Amazon.com were worth $16,855,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bank of America Corp DE acquired a new stake in shares of Amazon.com during the second quarter worth $22,218,775,000. Bank of New York Mellon Corp acquired a new position in shares of Amazon.com in the second quarter valued at about $16,341,405,000. Legal & General Group Plc bought a new position in Amazon.com during the second quarter worth about $12,831,376,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Amazon.com in the 2nd quarter worth about $6,631,466,000. Finally, Jupiter Topco LLC bought a new stake in Amazon.com in the 2nd quarter valued at about $5,910,083,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Amazon.com

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

• Positive Sentiment: AWS growth could be a major long-term catalyst. CEO Andy Jassy sees AWS potentially becoming a $1 trillion business over the next decade, with strong AI demand supporting rapid growth. That outlook may help reassure investors that Amazon’s large infrastructure investments can generate substantial future revenue. Article: Amazon’s CEO Andy Jassy Just Announced Huge News for Amazon Investors
• Positive Sentiment: Advertising remains another growth engine. Amazon’s ad revenue grew 12% in the latest quarter, and management expects high-teens growth next, offering a potential boost beyond retail and cloud. Article: Not Alphabet. Not Meta. This Is the Digital Advertising Stock I’d Buy Right Now
• Neutral Sentiment: Amazon is testing text-based shopping with Alexa for selected U.S. customers. The AI assistant can help find products, build carts and complete purchases; the feature could improve shopping convenience, though its impact on sales is not yet clear. Article: Amazon rolls out text-based shopping through Alexa
• Negative Sentiment: Spending and cash-flow concerns remain a near-term overhang. Despite record operating margins, investors are scrutinizing the cash required for Amazon’s AI and data-center buildout. Its latest quarterly EPS and revenue also came in slightly below consensus estimates. Article: Amazon Just Delivered a Record-Breaking Quarter. But There’s One Number Investors Shouldn’t Ignore
• Negative Sentiment: Potential data-center rules could raise costs. Midterm election results have increased attention on restrictions that could require Amazon and other tech companies to pay more of the power and grid costs associated with their data centers, potentially complicating expansion plans. Article: Microsoft and Google Face a New Bill as Data Centers Have to Pay Their Own Costs

Analysts Set New Price Targets

A number of research analysts have issued reports on AMZN shares. Robert W. Baird set a $310.00 target price on shares of Amazon.com and gave the stock an “outperform” rating in a research report on Friday, July 31st. Morgan Stanley reduced their price target on Amazon.com from $350.00 to $335.00 and set an “overweight” rating on the stock in a research report on Friday, October 30th. HSBC restated a “buy” rating and set a $310.00 price objective on shares of Amazon.com in a research note on Friday, July 31st. Bank of America reiterated a “buy” rating and set a $317.00 target price on shares of Amazon.com in a research report on Friday, October 30th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $320.00 price target (up from $315.00) on shares of Amazon.com in a research report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, fifty-five have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $321.74.

Amazon.com Price Performance

Shares of AMZN stock traded down $0.91 during trading hours on Friday, reaching $259.30. The company’s stock had a trading volume of 42,467,151 shares, compared to its average volume of 42,636,872. The firm’s 50 day simple moving average is $253.96 and its 200-day simple moving average is $243.57. The company has a market capitalization of $2.80 trillion, a price-to-earnings ratio of 20.96, a PEG ratio of 1.86 and a beta of 1.49. Amazon.com, Inc. has a fifty-two week low of $196.00 and a fifty-two week high of $287.20. The company has a quick ratio of 0.82, a current ratio of 0.99 and a debt-to-equity ratio of 0.28.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 29th. The e-commerce giant reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.97 by ($0.08). Amazon.com had a net margin of 16.90% and a return on equity of 15.72%. The business had revenue of $201.94 billion during the quarter, compared to the consensus estimate of $202.22 billion. During the same quarter in the previous year, the business posted $1.95 EPS. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. Sell-side analysts forecast that Amazon.com, Inc. will post 7.80 earnings per share for the current year.

Insider Transactions at Amazon.com

In other news, CEO Douglas Herrington sold 6,362 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $259.01, for a total value of $1,647,821.62. Following the completion of the transaction, the chief executive officer owned 476,681 shares of the company’s stock, valued at approximately $123,465,145.81. This represents a 1.32% decrease in their ownership of the stock. 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 Matthew S. Garman sold 14,541 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $259.06, for a total transaction of $3,766,991.46. Following the completion of the sale, the chief executive officer owned 17,794 shares in the company, valued at approximately $4,609,713.64. The trade was a 44.97% 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. In the last three months, insiders have sold 71,589 shares of company stock valued at $18,545,595. 8.90% of the stock is owned by company insiders.

Amazon.com Profile

Amazon.com, Inc is a technology and e-commerce company founded by Jeff Bezos in 1994 as an online bookstore. It has since grown into a global business serving consumers, sellers, developers, enterprises and content creators.

Amazon operates online stores and marketplaces, where it sells products directly and enables third-party sellers to reach customers. Its other businesses include Amazon Web Services, which provides cloud computing and related services; digital advertising; Prime memberships; and entertainment offerings such as streaming video and music.