Summit Financial LLC Sells 6,676 Shares of Amazon.com, Inc. $AMZN

Summit Financial LLC cut its position in Amazon.com, Inc. (NASDAQ:AMZN) by 1.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 354,731 shares of the e-commerce giant’s stock after selling 6,676 shares during the quarter. Amazon.com comprises about 1.2% of Summit Financial LLC’s holdings, making the stock its 12th largest position. Summit Financial LLC’s holdings in Amazon.com were worth $81,879,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Westchester Capital Management Inc. raised its stake in shares of Amazon.com by 5.9% in the fourth quarter. Westchester Capital Management Inc. now owns 41,495 shares of the e-commerce giant’s stock valued at $9,578,000 after buying an additional 2,315 shares during the period. Concorde Asset Management LLC raised its stake in shares of Amazon.com by 6.5% in the fourth quarter. Concorde Asset Management LLC now owns 7,044 shares of the e-commerce giant’s stock valued at $1,626,000 after buying an additional 430 shares during the period. M1 Capital Management LLC raised its stake in shares of Amazon.com by 1.5% in the fourth quarter. M1 Capital Management LLC now owns 12,487 shares of the e-commerce giant’s stock valued at $2,882,000 after buying an additional 190 shares during the period. United Capital Management of KS Inc. raised its stake in shares of Amazon.com by 0.9% in the fourth quarter. United Capital Management of KS Inc. now owns 84,577 shares of the e-commerce giant’s stock valued at $19,522,000 after buying an additional 771 shares during the period. Finally, Howland Capital Management LLC raised its stake in shares of Amazon.com by 9.1% in the fourth quarter. Howland Capital Management LLC now owns 308,176 shares of the e-commerce giant’s stock valued at $71,133,000 after buying an additional 25,735 shares during the period. 72.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Andrew R. Jassy sold 31,352 shares of Amazon.com 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 transaction, the chief executive officer directly owned 2,175,766 shares in the company, valued at approximately $598,335,650. The trade was a 1.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 27,500 shares of Amazon.com stock in a transaction on Monday, May 4th. The shares were sold at an average price of $275.00, for a total value of $7,562,500.00. Following the completion of the transaction, the chief executive officer owned 471,361 shares of the company’s stock, valued at approximately $129,624,275. This trade represents a 5.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 ninety days. 8.90% of the stock is owned by company insiders.

More Amazon.com News

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

• Positive Sentiment: Amazon continues to strengthen its AI and cloud position, with reports saying its custom chips are seeing strong demand in AWS and that its growing AI capabilities could help drive long-term upside. Article Title
• Positive Sentiment: Amazon expanded its logistics moat by launching less-than-truckload freight service for all U.S. businesses, which could improve its supply-chain offering and deepen its role in e-commerce infrastructure. Article Title
• Positive Sentiment: Amazon also signed a major patent license agreement with InterDigital covering Prime Video and devices, removing legal uncertainty and reinforcing its streaming and devices ecosystem. Article Title
• Neutral Sentiment: Analysts and commentators remain constructive on Amazon’s long-term fundamentals, pointing to e-commerce efficiency, AWS AI dominance, and potential value in its Anthropic investment, but these are more long-term catalysts than immediate trading drivers. Article Title
• Negative Sentiment: Investors are worried about Amazon’s heavy AI capital spending and new borrowing, which may pressure margins and free cash flow before the payback shows up. Article Title
• Negative Sentiment: Broader market pieces note that Amazon has lagged the S&P 500 recently and that its valuation has been hit by concerns over capex and softer near-term sentiment. Article Title

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $238.55 on Friday. The stock has a market cap of $2.57 trillion, a PE ratio of 28.53, a price-to-earnings-growth ratio of 1.81 and a beta of 1.44. Amazon.com, Inc. has a fifty-two week low of $196.00 and a fifty-two week high of $278.56. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.18. The stock has a fifty day moving average of $253.49 and a 200-day moving average of $233.62.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share for the quarter, beating the consensus estimate of $1.63 by $1.15. The company had revenue of $181.52 billion during 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 period in the previous year, the business earned $1.59 earnings per share. Equities research analysts anticipate that Amazon.com, Inc. will post 7.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AMZN. Tigress Financial boosted their target price on Amazon.com from $305.00 to $315.00 and gave the company a “buy” rating in a research note on Wednesday, March 25th. China Renaissance boosted their target price on Amazon.com from $300.00 to $326.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Guggenheim restated 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. Pivotal Research restated 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, The Goldman Sachs Group restated a “buy” rating and issued a $325.00 target price (up from $275.00) on shares of Amazon.com in a research note on Thursday, April 30th. Fifty-seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $312.78.

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.