Magellan Asset Management Ltd Has $468.37 Million Stock Holdings in Amazon.com, Inc. $AMZN

Magellan Asset Management Ltd lessened its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 19.1% in the first quarter, HoldingsChannel.com reports. The firm owned 2,248,881 shares of the e-commerce giant’s stock after selling 529,811 shares during the period. Amazon.com accounts for approximately 6.1% of Magellan Asset Management Ltd’s investment portfolio, making the stock its biggest holding. Magellan Asset Management Ltd’s holdings in Amazon.com were worth $468,374,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Millennium Capital Advisors LLC lifted its position in Amazon.com by 0.4% in the 1st quarter. Millennium Capital Advisors LLC now owns 29,004 shares of the e-commerce giant’s stock valued at $6,041,000 after purchasing an additional 116 shares during the last quarter. Phillip James Consulting Co. raised its stake in shares of Amazon.com by 7.5% during the first quarter. Phillip James Consulting Co. now owns 1,226 shares of the e-commerce giant’s stock valued at $255,000 after purchasing an additional 86 shares in the last quarter. CacheTech Inc. lifted its holdings in Amazon.com by 21.6% in the first quarter. CacheTech Inc. now owns 21,424 shares of the e-commerce giant’s stock worth $4,462,000 after purchasing an additional 3,806 shares during the period. Cadence Wealth Management LLC increased its stake in Amazon.com by 6.0% during the 1st quarter. Cadence Wealth Management LLC now owns 1,438 shares of the e-commerce giant’s stock valued at $300,000 after buying an additional 81 shares during the period. Finally, ABN Amro Investment Solutions lifted its position in Amazon.com by 26.1% in the first quarter. ABN Amro Investment Solutions now owns 1,466,273 shares of the e-commerce giant’s stock worth $305,381,000 after purchasing an additional 303,750 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Activity at Amazon.com

In other Amazon.com news, CEO Andrew R. Jassy sold 20,000 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $263.42, for a total transaction of $5,268,400.00. Following the transaction, the chief executive officer owned 2,205,766 shares in the company, valued at $581,042,879.72. This trade represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP David Zapolsky sold 9,270 shares of Amazon.com 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 completion of the transaction, the senior vice president directly owned 41,190 shares in the company, valued at approximately $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. Over the last quarter, insiders sold 76,867 shares of company stock valued at $20,253,702. Insiders own 8.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AMZN shares. DA Davidson reiterated a “neutral” rating and issued a $250.00 price target on shares of Amazon.com in a research report on Friday, July 31st. TD Securities upgraded shares of Amazon.com to a “buy” rating in a research report on Monday, April 13th. New Street Research increased their target price on shares of Amazon.com from $280.00 to $350.00 and gave the company a “buy” rating in a research note on Monday, May 4th. China Renaissance increased their price objective on Amazon.com from $300.00 to $326.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Finally, JPMorgan Chase & Co. raised their price objective on Amazon.com from $330.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Fifty-six 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $322.56.

More Amazon.com News

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 Stock Down 2.3%

Amazon.com stock opened at $277.42 on Wednesday. The firm has a market cap of $2.99 trillion, a PE ratio of 22.32, a P/E/G ratio of 1.81 and a beta of 1.45. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.87 and a current ratio of 1.03. The firm’s 50 day moving average price is $246.29 and its two-hundred day moving average price is $236.73. Amazon.com, Inc. has a twelve month low of $196.00 and a twelve month high of $287.20.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, July 30th. The e-commerce giant reported $5.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 earned $1.68 EPS. The company’s revenue was up 19.6% compared to the same quarter last year. On average, research analysts predict that Amazon.com, Inc. will post 8.39 EPS for the current fiscal year.

About Amazon.com

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.