Venturi Wealth Management LLC Reduces Stock Position in Amazon.com, Inc. $AMZN

Venturi Wealth Management LLC lessened its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 3.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 90,819 shares of the e-commerce giant’s stock after selling 2,947 shares during the period. Venturi Wealth Management LLC’s holdings in Amazon.com were worth $18,915,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMZN. Narwhal Capital Management grew its position in shares of Amazon.com by 2.3% during the 4th 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 in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Amazon.com by 21.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 24,653,228 shares of the e-commerce giant’s stock worth $5,690,463,000 after acquiring an additional 4,275,942 shares in the last quarter. Weaver Capital Management LLC grew its holdings in Amazon.com by 13.6% during 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 increased its position in Amazon.com by 9.6% during the 4th quarter. Ethos Financial Group LLC now owns 36,485 shares of the e-commerce giant’s stock valued at $8,421,000 after purchasing an additional 3,196 shares during the period. Finally, Baltimore Washington Financial Advisors Inc. increased its position in Amazon.com by 1.9% during the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 239,862 shares of the e-commerce giant’s stock valued at $52,667,000 after purchasing an additional 4,558 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Matthew S. Garman sold 15,467 shares of the business’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $263.40, for a total transaction of $4,074,007.80. Following the transaction, the chief executive officer directly owned 14,159 shares in the company, valued at $3,729,480.60. The trade was a 52.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP David Zapolsky sold 9,270 shares of the business’s stock in a transaction on 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 owned 41,190 shares in the company, valued at approximately $11,060,750.70. This trade represents a 18.37% 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 ninety days, insiders sold 195,774 shares of company stock valued at $51,643,704. Company insiders own 8.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AMZN. Evercore upped their price target on shares of Amazon.com from $285.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. DZ Bank lifted their price objective on shares of Amazon.com from $295.00 to $320.00 and gave the company a “buy” rating in a report on Monday, May 4th. Roth Mkm boosted their price objective on shares of Amazon.com from $285.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Sanford C. Bernstein restated an “outperform” rating and set a $315.00 target price (up from $300.00) on shares of Amazon.com in a report on Thursday, April 30th. Finally, Moffett Nathanson increased their target price on Amazon.com from $283.00 to $288.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th. Fifty-seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $312.79.

Amazon.com Stock Performance

NASDAQ AMZN opened at $242.67 on Friday. 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 firm has a market cap of $2.61 trillion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 1.81 and a beta of 1.46. The company has a 50 day moving average price of $254.57 and a 200 day moving average price of $234.57. 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 earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $1.15. The company 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%. Amazon.com’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.59 earnings per share. As a group, sell-side analysts forecast that Amazon.com, Inc. will post 7.75 EPS for the current fiscal year.

Amazon.com News Summary

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

• Positive Sentiment: Amazon said its Leo satellite network has enough satellites to begin initial broadband service this year, opening a new growth opportunity in satellite internet. Reuters: Amazon to start initial Leo internet service this year as network nears 400 satellites
• Positive Sentiment: Amazon is expanding its AI strategy with custom device chips and broader AWS AI capabilities, which could support future margins and growth. CNBC: Amazon is designing its own AI chips for Echo, Fire TV and future devices
• Positive Sentiment: Prime Day-related reports pointed to strong online shopping demand, reinforcing confidence in Amazon’s retail momentum heading into earnings. Yahoo Finance/Reuters: Online Spending Rises 5.3% on First Day of Amazon’s Prime Day

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.