446,305 Shares in Amazon.com, Inc. $AMZN Acquired by Purpose Unlimited Inc.

Purpose Unlimited Inc. purchased a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the fourth quarter, Holdings Channel.com reports. The firm purchased 446,305 shares of the e-commerce giant’s stock, valued at approximately $103,016,000. Amazon.com comprises about 4.7% of Purpose Unlimited Inc.’s holdings, making the stock its 4th largest holding.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new stake in Amazon.com in the fourth quarter worth $32,868,735,000. Auto Owners Insurance Co grew its stake in shares of Amazon.com by 27,376.7% during the fourth quarter. Auto Owners Insurance Co now owns 98,448,885 shares of the e-commerce giant’s stock valued at $2,272,397,000 after buying an additional 98,090,585 shares during the last quarter. J. Stern & Co. LLP increased its holdings in shares of Amazon.com by 20,598.0% in the fourth quarter. J. Stern & Co. LLP now owns 87,982,814 shares of the e-commerce giant’s stock worth $20,308,193,000 after buying an additional 87,557,736 shares during the period. Nuveen LLC bought a new stake in shares of Amazon.com in the 1st quarter valued at about $11,674,091,000. Finally, Cardano Risk Management B.V. lifted its stake in shares of Amazon.com by 879.4% in the 4th quarter. Cardano Risk Management B.V. now owns 27,862,400 shares of the e-commerce giant’s stock valued at $6,431,199,000 after acquiring an additional 25,017,588 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

Amazon.com News Roundup

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

• Positive Sentiment: Prime Day has kicked off earlier than usual and is expected to generate record online spending, with estimates above $26 billion across retailers; that could lift Amazon’s retail revenue and merchant activity. Amazon Prime Day expected to drive record $26B in online spending
• Positive Sentiment: Amazon is leaning hard into AI commerce during Prime Day, including Alexa for Shopping and new agentic ads that can place purchases automatically, which could improve engagement and show off Amazon’s AI monetization strategy. Amazon ads can make purchases for you
• Positive Sentiment: Multiple analyst-style commentaries remain bullish, citing AWS reacceleration, advertising growth, Prime subscriptions, and the possibility that Amazon’s AI chips could become an additional business line. Amazon: You Aren’t Bullish Enough
• Positive Sentiment: A new AWS partnership with ArcelorMittal and another AWS deal with PennyMac highlight continued enterprise adoption of Amazon’s cloud and AI tools. Amazon teams with ArcelorMittal to bring AI into steel plants
• Neutral Sentiment: Prime Day is also being viewed as a consumer spending litmus test, with more focus on basics and household goods than discretionary splurges, so results will be important for sentiment but not clearly a direct positive or negative. Amazon Prime Day to gauge US consumer strain
• Negative Sentiment: AMZN has been caught in a broader selloff in big tech as investors worry about heavy AI capital spending and uncertain near-term returns, which has weighed on the stock despite strong fundamentals. Alphabet sinks, Amazon slides amid AI capex anxiety
• Negative Sentiment: Amazon also faces fresh labor and regulatory overhangs, including an order to bargain with Teamsters at a California fulfillment center and renewed FTC-related concern. Amazon told to negotiate with Teamsters

Amazon.com Price Performance

Shares of AMZN stock opened at $234.11 on Wednesday. The firm has a market cap of $2.52 trillion, a P/E ratio of 28.00, a P/E/G ratio of 1.74 and a beta of 1.45. Amazon.com, Inc. has a fifty-two week low of $196.00 and a fifty-two week high of $278.56. The business’s 50 day moving average price is $256.40 and its 200-day moving average price is $234.12. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.18.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share (EPS) for the quarter, beating 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 business’s revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.59 earnings per share. On average, equities research analysts anticipate that Amazon.com, Inc. will post 7.71 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Cantor Fitzgerald restated an “overweight” rating and set a $330.00 price target (up from $280.00) on shares of Amazon.com in a research report on Thursday, April 30th. New Street Research boosted their price objective on Amazon.com from $280.00 to $350.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Phillip Securities upgraded shares of Amazon.com from a “moderate buy” rating to a “buy” rating and set a $280.00 target price on the stock in a report on Wednesday, May 13th. Pivotal Research reaffirmed a “buy” rating and issued a $320.00 target price (up from $300.00) on shares of Amazon.com in a research note on Thursday, April 30th. Finally, Royal Bank Of Canada reiterated a “buy” rating on shares of Amazon.com in a report on Tuesday, June 16th. Fifty-seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $312.78.

Insiders Place Their Bets

In other news, CEO Douglas J. Herrington sold 1,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $266.19, for a total value of $266,190.00. Following the completion of the sale, the chief executive officer directly owned 485,527 shares of the company’s stock, valued at approximately $129,242,432.13. This trade represents a 0.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew R. Jassy sold 20,000 shares of Amazon.com stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $263.42, for a total transaction of $5,268,400.00. Following the sale, the chief executive officer directly owned 2,205,766 shares in the company, valued at $581,042,879.72. The trade was a 0.90% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 over the last quarter. 8.90% of the stock is owned by company insiders.

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.