Union Savings Bank bought a new position in Amazon.com, Inc. (NASDAQ:AMZN) during the fourth quarter, Holdings Channel reports. The institutional investor bought 10,473 shares of the e-commerce giant’s stock, valued at approximately $2,417,000. Amazon.com comprises about 1.0% of Union Savings Bank’s portfolio, making the stock its 16th largest position.
A number of other hedge funds and other institutional investors also recently bought and sold shares of AMZN. Brighton Jones LLC increased its holdings in shares of Amazon.com by 10.9% in the 4th quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant’s stock worth $885,478,000 after acquiring an additional 397,007 shares during the period. Revolve Wealth Partners LLC boosted its stake in Amazon.com by 4.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant’s stock valued at $5,495,000 after purchasing an additional 986 shares during the period. Bank Pictet & Cie Europe AG boosted its stake in Amazon.com by 2.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant’s stock valued at $442,481,000 after purchasing an additional 54,987 shares during the period. Highview Capital Management LLC DE grew its position in Amazon.com by 5.5% in the 4th quarter. Highview Capital Management LLC DE now owns 28,975 shares of the e-commerce giant’s stock worth $6,357,000 after purchasing an additional 1,518 shares during the last quarter. Finally, Liberty Square Wealth Partners LLC bought a new position in Amazon.com in the 4th quarter worth about $2,153,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Amazon.com
In other news, CEO Andrew R. Jassy sold 31,352 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $275.00, for a total value of $8,621,800.00. Following the completion of the sale, the chief executive officer owned 2,175,766 shares in the company, valued at $598,335,650. This represents a 1.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 firm’s stock in a transaction dated Friday, May 22nd. The shares were 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 $11,060,750.70. This represents a 18.37% 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. Insiders have sold a total of 195,774 shares of company stock valued at $51,614,434 in the last quarter. Company insiders own 8.90% of the company’s stock.
Amazon.com Trading Down 4.7%
Amazon.com (NASDAQ:AMZN – Get Free Report) last announced its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 EPS for the quarter, topping the consensus estimate of $1.63 by $1.15. The firm had revenue of $181.52 billion for the quarter, compared to analysts’ expectations of $177.28 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.59 earnings per share. As a group, equities research analysts expect that Amazon.com, Inc. will post 7.71 EPS for the current fiscal year.
Key Amazon.com News
Here are the key news stories impacting Amazon.com this week:
- Positive Sentiment: Prime Day is about to begin, and analysts expect record online spending, which could give Amazon a short-term sales boost and improve sentiment around retail demand. Reuters: Amazon Prime Day to gauge US consumer strain as focus shifts to basics
- Positive Sentiment: Amazon is expanding its AI strategy with new shopping tools, Alexa+ testing in India, and continued AWS adoption, reinforcing the bull case that AI and cloud growth can drive future earnings. TechCrunch: Amazon is testing Alexa+ in India with Hindi support
- Positive Sentiment: Appaloosa’s latest filing showed David Tepper nearly doubled Amazon holdings, a sentiment signal that some large investors still see upside in AMZN. 247WallSt: David Tepper Trimmed Nvidia and AMD, but Doubled Down on This AI Stock
- Neutral Sentiment: Several articles argued Amazon remains a high-quality long-term stock and may be undervalued after its recent pullback, but these are mostly opinion pieces rather than fresh company-specific catalysts. Yahoo Finance: Amazon (AMZN): The Best High Quality Stock to Buy for the Long Term
- Neutral Sentiment: Amazon MGM Studios backed away from a Sam Altman/OpenAI film, which looks more like a content-strategy decision than a meaningful stock driver. GeekWire: Amazon MGM Studios drops film about Sam Altman months after tech giant’s OpenAI deal
- Negative Sentiment: Investors are still worried about heavy AI infrastructure spending across hyperscalers, and AMZN has been trading with that group as the market questions near-term returns on capex. 247WallSt: Alphabet Sinks 6%, Amazon Slides 4% Amid AI CapEx Anxiety Across the Hyperscalers
- Negative Sentiment: One concern heading into Prime Day is that nearly everyone who wants Prime already has it, limiting membership-growth upside from the event. Business Insider: Amazon’s Prime Day has a problem: Almost everyone has Prime already
Analyst Ratings Changes
Several equities research analysts have commented on the stock. Needham & Company LLC raised their price target on shares of Amazon.com from $265.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Robert W. Baird increased their price objective on Amazon.com from $285.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Guggenheim restated a “buy” rating and issued a $320.00 target price (up from $300.00) on shares of Amazon.com in a research report on Thursday, April 30th. Sanford C. Bernstein restated an “outperform” rating and issued a $315.00 target price (up from $300.00) on shares of Amazon.com in a research report on Thursday, April 30th. Finally, Barclays reaffirmed an “overweight” rating on shares of Amazon.com in a research note on Tuesday, June 9th. Fifty-seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $312.78.
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.
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