Cortland Associates Inc. MO lowered its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.7% in the 4th quarter, HoldingsChannel reports. The firm owned 231,650 shares of the e-commerce giant’s stock after selling 3,984 shares during the period. Amazon.com makes up approximately 6.7% of Cortland Associates Inc. MO’s holdings, making the stock its 6th largest holding. Cortland Associates Inc. MO’s holdings in Amazon.com were worth $53,469,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in AMZN. Fairway Wealth LLC boosted its position 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 purchasing an additional 60 shares in the last quarter. Sellwood Investment Partners LLC bought a new position in shares of Amazon.com during the 3rd quarter worth about $27,000. Bridge Generations Wealth Management LLC boosted its position in shares of Amazon.com by 2,330.0% during the 3rd quarter. Bridge Generations Wealth Management LLC now owns 243 shares of the e-commerce giant’s stock worth $53,000 after purchasing an additional 233 shares in the last quarter. Cooksen Wealth LLC boosted its position in shares of Amazon.com by 23.5% during the 2nd quarter. Cooksen Wealth LLC now owns 247 shares of the e-commerce giant’s stock worth $54,000 after purchasing an additional 47 shares in the last quarter. Finally, PayPay Securities Corp boosted its position in shares of Amazon.com by 62.3% during the 3rd 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. Institutional investors and hedge funds own 72.20% of the company’s stock.
Insider Activity at Amazon.com
In related news, CEO Matthew S. Garman sold 17,751 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $205.22, for a total value of $3,642,860.22. Following the completion of the transaction, the chief executive officer directly owned 9,405 shares of the company’s stock, valued at approximately $1,930,094.10. This trade represents a 65.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew R. Jassy sold 31,352 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $275.00, for a total transaction of $8,621,800.00. Following the completion of the transaction, the chief executive officer directly owned 2,175,766 shares of the company’s stock, valued at approximately $598,335,650. This trade represents a 1.42% 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. Insiders sold 190,593 shares of company stock valued at $46,081,241 over the last quarter. 8.90% of the stock is currently owned by insiders.
Amazon.com Trading Down 1.2%
Amazon.com (NASDAQ:AMZN – Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 EPS for the quarter, beating the consensus estimate of $1.63 by $1.15. The firm had revenue of $181.52 billion during the quarter, compared to analyst estimates of $177.28 billion. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the business posted $1.59 EPS. On average, equities analysts expect that Amazon.com, Inc. will post 7.72 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of research firms have recently issued reports on AMZN. Maxim Group increased their price objective on shares of Amazon.com from $290.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Raymond James Financial reissued an “outperform” rating and set a $280.00 price objective on shares of Amazon.com in a research report on Friday, May 1st. TD Securities raised shares of Amazon.com to a “buy” rating in a research report on Monday, April 13th. Barclays reissued an “overweight” rating and set a $330.00 price objective (up from $300.00) on shares of Amazon.com in a research report on Thursday, April 30th. Finally, BMO Capital Markets increased their price objective on shares of Amazon.com from $310.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Fifty-six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $313.09.
View Our Latest Report on Amazon.com
Amazon.com News Summary
Here are the key news stories impacting Amazon.com this week:
- Positive Sentiment: Amazon launched Amazon Now, a 30-minute delivery service in dozens of U.S. cities, reinforcing its push into ultra-fast commerce and potentially strengthening Prime and retail engagement. Amazon accelerates delivery race with 30-minute dropoffs in dozens of U.S. cities
- Positive Sentiment: TD Cowen reaffirmed a Buy rating on Amazon and set a $350 price target, signaling confidence in further upside from current levels. Analyst issues new Amazon (AMZN) stock price target
- Positive Sentiment: Amazon is expanding AI and cloud-related investment, including tapping overseas debt markets to help fund its AI infrastructure push, which supports the long-term growth narrative for AWS. Alphabet, Amazon tap overseas debt markets to fund AI infrastructure push
- Neutral Sentiment: Prime Video plans to invest at least 90 million euros in French-language film and TV production, underscoring international content spending but with a limited direct near-term financial impact. Amazon.com’s Prime Video Set to Invest 90 Million Euros in French Film and TV Production, Reuters Says
- Neutral Sentiment: Reports that Amazon workers are gaming internal AI tools and using them for trivial tasks are drawing scrutiny, but the stock reaction appears limited unless it points to wasted productivity or governance issues. Amazon staff use AI tool for unnecessary tasks to inflate usage scores
- Negative Sentiment: Amazon is facing some headline risk from a proposed class-action lawsuit over Fire TV Sticks and criticism around its rapid-delivery model, though these issues are smaller than the bullish catalysts above. Amazon Is Being Sued Over Fire TV Sticks That Stopped Working
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.
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