Amazon.com, Inc. $AMZN Shares Sold by Sheets Smith Wealth Management

Sheets Smith Wealth Management lessened its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 8.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 83,856 shares of the e-commerce giant’s stock after selling 8,024 shares during the quarter. Amazon.com comprises 2.0% of Sheets Smith Wealth Management’s holdings, making the stock its 6th biggest position. Sheets Smith Wealth Management’s holdings in Amazon.com were worth $17,465,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. MilWealth Group LLC increased its stake in shares of Amazon.com by 79.0% during the fourth quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant’s stock valued at $41,000 after acquiring an additional 79 shares during the period. Lifetime Wealth Management P.C. bought a new stake in Amazon.com during the fourth quarter worth approximately $45,000. Elkhorn Partners Limited Partnership lifted its position in Amazon.com by 900.0% in the fourth quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant’s stock worth $46,000 after purchasing an additional 180 shares during the period. Fairway Wealth LLC lifted its position in Amazon.com by 95.6% in the fourth quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant’s stock worth $51,000 after purchasing an additional 108 shares during the period. Finally, Prudent Man Investment Management Inc. boosted its stake in Amazon.com by 87.7% during the 4th quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant’s stock valued at $53,000 after purchasing an additional 107 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Key Stories Impacting Amazon.com

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

• Positive Sentiment: Prime Day demand appears to be supporting sentiment, with reports of strong early online spending and investor expectations for a Q2 revenue beat. Reuters: US online spending hits $8.3 billion as Amazon Prime Day kicks off, Adobe says
• Positive Sentiment: Amazon’s Zoox autonomous vehicle unit unveiled a redesigned robotaxi and said it is preparing for larger-scale production and a wider commercial rollout later this year, reinforcing the company’s long-term optionality in mobility. CNBC: Amazon’s Zoox unveils redesigned robotaxi ahead of upcoming expansion
• Positive Sentiment: Wall Street commentary remains constructive, with analysts and major investors highlighting Amazon’s AWS growth, AI shopping tools, and advertising/Prime businesses as reasons the stock can keep compounding over time. Benzinga: Cathie Wood Is Rebuilding The Magnificent 7 Trade
• Neutral Sentiment: Amazon’s AWS and AI teams continue to promote new capabilities, including expanded Bedrock functionality and commentary that AI will reshape white-collar work rather than eliminate it, which supports the long-term AI narrative but does not create an immediate catalyst. Zacks: Amazon Strengthens Bedrock Ecosystem: What’s Next for Enterprise AI?
• Negative Sentiment: Some investors remain concerned that heavy AI infrastructure spending and Prime Day timing shifts could pressure future comparisons, and Amazon has also faced added noise from labor and regulatory headlines. MarketBeat: Amazon’s Pullback Deepens as a New FTC Risk Hits the Stock

Amazon.com Stock Up 0.1%

Shares of Amazon.com stock opened at $234.24 on Thursday. The stock’s fifty day moving average is $256.29 and its 200-day moving average is $234.16. The firm has a market capitalization of $2.52 trillion, a PE ratio of 28.02, a price-to-earnings-growth ratio of 1.75 and a beta of 1.44. The company has a quick ratio of 1.01, a current ratio of 1.18 and a debt-to-equity ratio of 0.27. Amazon.com, Inc. has a 12-month low of $196.00 and a 12-month high of $278.56.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $1.15. The business had revenue of $181.52 billion during the quarter, compared to analyst estimates of $177.28 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.Amazon.com’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the company posted $1.59 EPS. Equities analysts anticipate that Amazon.com, Inc. will post 7.71 earnings per share for the current year.

Insider Activity at Amazon.com

In other news, CEO Douglas J. Herrington sold 1,000 shares of Amazon.com stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $266.19, for a total value of $266,190.00. Following the transaction, the chief executive officer directly owned 485,527 shares of the company’s stock, valued at $129,242,432.13. This trade represents a 0.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 that occurred on Friday, May 22nd. The shares were sold at an average price of $268.53, for a total transaction of $2,489,273.10. Following the sale, the senior vice president owned 41,190 shares in the company, valued at $11,060,750.70. This represents a 18.37% 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. In the last ninety days, insiders sold 195,774 shares of company stock valued at $51,614,434. Corporate insiders own 8.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AMZN shares. Piper Sandler set a $330.00 price target on Amazon.com in a research report on Thursday, June 11th. William Blair restated an “outperform” rating on shares of Amazon.com in a report on Thursday, April 9th. Citigroup reaffirmed a “market outperform” rating on shares of Amazon.com in a research note on Monday, June 1st. HSBC lifted their target price on Amazon.com from $280.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, UBS Group set a $315.00 price target on shares of Amazon.com in a research report on Monday, June 1st. 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.