Penobscot Investment Management Company Inc. Acquires 7,359 Shares of Amazon.com, Inc. $AMZN

Penobscot Investment Management Company Inc. grew its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 6.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 113,773 shares of the e-commerce giant’s stock after acquiring an additional 7,359 shares during the period. Amazon.com comprises approximately 1.9% of Penobscot Investment Management Company Inc.’s portfolio, making the stock its 8th largest position. Penobscot Investment Management Company Inc.’s holdings in Amazon.com were worth $24,981,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of AMZN. Wilson Asset Management International PTY Ltd. bought a new position in Amazon.com during the 2nd quarter valued at $11,102,000. ARK Investment Management LLC lifted its position in shares of Amazon.com by 8.3% during the second quarter. ARK Investment Management LLC now owns 1,140,494 shares of the e-commerce giant’s stock worth $250,213,000 after purchasing an additional 86,978 shares during the last quarter. Buckhead Capital Management LLC grew its stake in Amazon.com by 16.1% in the second quarter. Buckhead Capital Management LLC now owns 28,407 shares of the e-commerce giant’s stock worth $6,232,000 after purchasing an additional 3,948 shares in the last quarter. Border to Coast Pensions Partnership Ltd increased its holdings in Amazon.com by 6.0% in the second quarter. Border to Coast Pensions Partnership Ltd now owns 1,136,311 shares of the e-commerce giant’s stock valued at $249,295,000 after buying an additional 63,924 shares during the last quarter. Finally, Alpha Wealth Funds LLC raised its stake in Amazon.com by 172.8% during the second quarter. Alpha Wealth Funds LLC now owns 3,012 shares of the e-commerce giant’s stock valued at $667,000 after buying an additional 1,908 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com News Summary

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

• Positive Sentiment: AWS launches a Europe-only “sovereign cloud,” helping Amazon win government and regulated enterprise business in the EU — a revenue and margin tailwind for AWS. Amazon launches new Europe-based cloud service
• Positive Sentiment: Analysts and research pieces point to AWS re-accelerating (cited ~20% growth, large backlog, heavy AI investment) — supports higher-margin service revenue outlook. Amazon vs. Oracle: Which Cloud Computing Stock is the Better Buy Now?
• Positive Sentiment: Evercore highlights Rufus, Amazon’s AI shopping assistant, as a driver for e-commerce monetization and higher conversion/ads revenue. AI product traction supports longer-term margin expansion. AI-Shopping Assistant Rufus to Drive Amazon e-Commerce Growth
• Positive Sentiment: Amazon joined Wikimedia’s commercial enterprise for AI training access — strengthens access to training data for its LLM/AI efforts and signals cooperation with major content providers. Wikipedia parent partners with Amazon, Meta, Perplexity on AI access
• Positive Sentiment: Amazon secured a U.S. copper supply deal (Rio Tinto) to support fast-growing AI data-center construction — reduces a key bottleneck for capex-driven AWS expansion. Rio Tinto to supply copper to Amazon for AI data centers
• Positive Sentiment: Goldman Sachs raised its price target to $300 and reiterated Buy, reinforcing bullish analyst momentum and supporting investor appetite. Goldman Sachs adjusts price target on Amazon.com to $300
• Neutral Sentiment: Nigeria issued satellite permits to Kuiper (Amazon’s broadband unit), a longer-term growth signal for Kuiper but limited near-term revenue impact. Nigeria grants satellite permits to BeetleSat, Satelio and Amazon’s Kuiper
• Neutral Sentiment: Long-horizon bullish takes (e.g., forecasts that Amazon could reach $1T revenue by 2028) keep investor enthusiasm but are speculative and distant from near-term earnings. Amazon Will Be America’s First $1T Revenue Company
• Negative Sentiment: Legal dispute over Saks Global’s bankruptcy: Amazon says its $475M stake is now worthless and has warned of “drastic remedies.” Ongoing litigation and potential losses create headline risk and near-term uncertainty. Amazon threatens ‘drastic action’ after Saks bankruptcy
• Negative Sentiment: Coverage and some analysts are cautious (Cantor Fitzgerald cut its target), and a U.S. judge rejected Amazon’s first attempt to block Saks’ financing — these items add legal/analyst-driven pressure on sentiment. Cantor Fitzgerald reduces PT on Amazon

Insider Transactions at Amazon.com

In other news, CEO Andrew R. Jassy sold 19,872 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $216.94, for a total value of $4,311,031.68. Following the completion of the transaction, the chief executive officer directly owned 2,208,310 shares in the company, valued at $479,070,771.40. This trade represents a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Matthew S. Garman sold 17,768 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $216.90, for a total value of $3,853,879.20. Following the sale, the chief executive officer directly owned 6,273 shares in the company, valued at approximately $1,360,613.70. The trade was a 73.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 79,734 shares of company stock worth $18,534,017 over the last ninety days. Insiders own 9.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on AMZN shares. CICC Research lifted their target price on Amazon.com from $240.00 to $280.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 5th. Bank of America boosted their target price on shares of Amazon.com from $272.00 to $303.00 and gave the company a “buy” rating in a research note on Wednesday, December 3rd. Canaccord Genuity Group set a $300.00 price target on shares of Amazon.com and gave the stock a “buy” rating in a research report on Friday, October 31st. Sanford C. Bernstein set a $300.00 price target on shares of Amazon.com and gave the company an “outperform” rating in a report on Friday, October 31st. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $301.00 price objective (up previously from $295.00) on shares of Amazon.com in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, fifty-six have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Amazon.com has an average rating of “Moderate Buy” and an average target price of $295.96.

Amazon.com Stock Performance

Shares of NASDAQ AMZN opened at $239.12 on Friday. Amazon.com, Inc. has a 12-month low of $161.38 and a 12-month high of $258.60. The company has a market cap of $2.56 trillion, a PE ratio of 33.77, a P/E/G ratio of 1.49 and a beta of 1.37. The stock has a 50 day simple moving average of $232.46 and a 200-day simple moving average of $228.55. The company has a current ratio of 1.01, a quick ratio of 0.80 and a debt-to-equity ratio of 0.14.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, October 30th. The e-commerce giant reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.38. Amazon.com had a return on equity of 23.62% and a net margin of 11.06%.The firm had revenue of $180.17 billion for the quarter, compared to the consensus estimate of $177.53 billion. During the same quarter in the previous year, the business earned $1.43 EPS. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, equities research analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current year.

Amazon.com Company 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.