Westpac Banking Corp Has $45.48 Million Stock Holdings in Amazon.com, Inc. $AMZN

Westpac Banking Corp cut its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 11.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 218,364 shares of the e-commerce giant’s stock after selling 27,347 shares during the period. Amazon.com comprises approximately 3.2% of Westpac Banking Corp’s holdings, making the stock its 5th largest position. Westpac Banking Corp’s holdings in Amazon.com were worth $45,479,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in shares of Amazon.com by 10.9% in the fourth quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant’s stock worth $885,478,000 after buying an additional 397,007 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in Amazon.com by 4.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant’s stock valued at $5,495,000 after buying an additional 986 shares during the last quarter. Bank Pictet & Cie Europe AG increased its holdings in Amazon.com by 2.8% during the fourth 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 buying an additional 54,987 shares during the last quarter. Highview Capital Management LLC DE raised its position in Amazon.com by 5.5% in the fourth quarter. Highview Capital Management LLC DE now owns 28,975 shares of the e-commerce giant’s stock worth $6,357,000 after acquiring an additional 1,518 shares during the period. Finally, Liberty Square Wealth Partners LLC bought a new position in Amazon.com in the fourth quarter worth approximately $2,153,000. 72.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMZN has been the subject of a number of recent research reports. Rosenblatt Securities boosted their price objective on shares of Amazon.com from $332.00 to $345.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Barclays reaffirmed an “overweight” rating and issued a $365.00 target price (up from $330.00) on shares of Amazon.com in a report on Friday. KeyCorp lifted their target price on Amazon.com from $335.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Morgan Stanley reissued an “overweight” rating and set a $335.00 price target (up from $330.00) on shares of Amazon.com in a report on Friday. Finally, Citigroup restated a “buy” rating and issued a $350.00 price target (up from $325.00) on shares of Amazon.com in a research report on Friday. Fifty-six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Amazon.com has a consensus rating of “Moderate Buy” and a consensus price target of $322.56.

Amazon.com Stock Down 2.3%

AMZN opened at $277.42 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.87 and a current ratio of 1.03. Amazon.com, Inc. has a fifty-two week low of $196.00 and a fifty-two week high of $287.20. The firm’s fifty day moving average is $246.29 and its 200 day moving average is $236.73. The stock has a market cap of $2.99 trillion, a price-to-earnings ratio of 22.32, a price-to-earnings-growth ratio of 1.81 and a beta of 1.45.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, July 30th. The e-commerce giant reported $5.75 earnings per share for the quarter, topping the consensus estimate of $1.82 by $3.93. Amazon.com had a net margin of 17.44% and a return on equity of 18.00%. The company had revenue of $200.61 billion during the quarter, compared to the consensus estimate of $197.03 billion. During the same quarter in the prior year, the firm posted $1.68 EPS. Amazon.com’s quarterly revenue was up 19.6% compared to the same quarter last year. On average, sell-side analysts forecast that Amazon.com, Inc. will post 8.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Douglas J. Herrington sold 6,370 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $262.39, for a total value of $1,671,424.30. Following the completion of the transaction, the chief executive officer owned 486,527 shares of the company’s stock, valued at $127,659,819.53. This represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP David Zapolsky sold 9,270 shares of the stock in a transaction dated 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 sale, the senior vice president owned 41,190 shares of the company’s stock, valued at $11,060,750.70. This represents a 18.37% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 76,867 shares of company stock valued at $20,253,702. Insiders own 8.90% of the company’s stock.

Key Stories Impacting Amazon.com

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

• Positive Sentiment: AWS growth is strengthening the AI investment case. Second-quarter revenue rose 19.6% to $200.6 billion, while AWS revenue increased 37% and operating income rose sharply. Investors are increasingly confident that Amazon’s infrastructure spending is translating into cloud demand, margins and future revenue visibility. Amazon AWS growth article
• Positive Sentiment: Analysts remain constructive. Multiple firms have raised price targets, with reported targets generally above the current share price. A large AWS backlog and accelerating AI-related demand are supporting the bullish outlook. Amazon analyst targets and AWS backlog
• Positive Sentiment: AI monetization is broadening. Amazon’s investment in Anthropic and its OpenAI partnership could increase demand for AWS chips and infrastructure. Personalized recommendations and AI features in Prime Video may also improve engagement and create additional monetization opportunities. Amazon Prime Video AI article
• Neutral Sentiment: Recent momentum may be vulnerable to profit-taking. Short covering and strong post-earnings buying helped drive the recent rally, but some analysts have downgraded Amazon to more moderate recommendations as valuation and expectations rise. Amazon rating downgrade
• Negative Sentiment: Bezos’ planned sale is the main near-term overhang. The proposed disposal, valued at roughly $4 billion to $4.7 billion, increases potential supply and has been interpreted as a sentiment “buzzkill” immediately after the stock’s record high. Jeff Bezos Amazon share sale
• Negative Sentiment: Risks from spending and regulation remain. Amazon faces very large AI capital commitments, negative free cash flow and future data-center lease obligations. New Jersey also sued over alleged delivery-network wage suppression, while a court allowed Perplexity’s AI shopping tools to continue operating on Amazon’s platform, potentially increasing competitive and security concerns. Big Tech AI data-center lease obligations

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.