Elk River Wealth Management LLC Sells 648,756 Shares of Amazon.com, Inc. $AMZN

Elk River Wealth Management LLC cut its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 88.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 84,694 shares of the e-commerce giant’s stock after selling 648,756 shares during the period. Amazon.com accounts for about 2.9% of Elk River Wealth Management LLC’s investment portfolio, making the stock its 11th biggest position. Elk River Wealth Management LLC’s holdings in Amazon.com were worth $17,639,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. AGP Franklin LLC increased its holdings in shares of Amazon.com by 26.7% in the first quarter. AGP Franklin LLC now owns 56,330 shares of the e-commerce giant’s stock valued at $11,732,000 after purchasing an additional 11,876 shares in the last quarter. Telos Capital Management Inc. grew its position in shares of Amazon.com by 0.8% during the 1st quarter. Telos Capital Management Inc. now owns 95,539 shares of the e-commerce giant’s stock worth $19,898,000 after buying an additional 717 shares during the period. IFC & Insurance Marketing Inc. raised its stake in shares of Amazon.com by 2.1% during the first quarter. IFC & Insurance Marketing Inc. now owns 2,408 shares of the e-commerce giant’s stock worth $502,000 after buying an additional 50 shares during the last quarter. Rainier Family Wealth Inc. grew its stake in shares of Amazon.com by 20.4% during the first quarter. Rainier Family Wealth Inc. now owns 13,653 shares of the e-commerce giant’s stock worth $2,844,000 after purchasing an additional 2,310 shares during the period. Finally, Financial Management Network Inc. increased its holdings in Amazon.com by 1.5% in the first quarter. Financial Management Network Inc. now owns 29,998 shares of the e-commerce giant’s stock valued at $6,248,000 after purchasing an additional 446 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Matthew S. Garman sold 15,467 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $263.40, for a total transaction of $4,074,007.80. Following the transaction, the chief executive officer directly owned 14,159 shares of the company’s stock, valued at $3,729,480.60. This represents a 52.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Shelley Reynolds sold 2,363 shares of Amazon.com stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $262.38, for a total transaction of $620,003.94. Following the completion of the sale, the vice president directly owned 119,780 shares of the company’s stock, valued at approximately $31,427,876.40. The trade was a 1.93% 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 90 days, insiders have sold 195,774 shares of company stock valued at $51,614,434. Corporate insiders own 8.90% of the company’s stock.

Amazon.com Stock Up 2.5%

Shares of NASDAQ AMZN opened at $232.69 on Friday. The stock has a 50-day moving average price of $255.53 and a two-hundred day moving average price of $234.13. Amazon.com, Inc. has a 12 month low of $196.00 and a 12 month high of $278.56. The company has a market cap of $2.50 trillion, a price-to-earnings ratio of 27.83, a PEG ratio of 1.70 and a beta of 1.44. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 EPS for the quarter, topping the consensus estimate of $1.63 by $1.15. The business had revenue of $181.52 billion for the quarter, compared to the consensus estimate of $177.28 billion. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The firm’s revenue was up 16.6% compared to the same quarter last year. During the same period last year, the company earned $1.59 EPS. As a group, analysts forecast that Amazon.com, Inc. will post 7.71 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AMZN. Telsey Advisory Group boosted their price objective on shares of Amazon.com from $300.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. The Goldman Sachs Group reissued a “buy” rating and issued a $325.00 price target (up from $275.00) on shares of Amazon.com in a report on Thursday, April 30th. Tigress Financial upped their price objective on shares of Amazon.com from $305.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday, March 25th. Jefferies Financial Group reissued a “buy” rating on shares of Amazon.com in a research note on Thursday, June 18th. Finally, Morgan Stanley boosted their target price on Amazon.com from $300.00 to $330.00 and gave the company an “overweight” rating 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $312.78.

Key Headlines Impacting Amazon.com

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

• Positive Sentiment: Amazon Web Services raised prices on certain AI GPU and capacity-block offerings, which suggests strong demand and improved pricing power for its cloud business. Article Title
• Positive Sentiment: Amazon said it will invest an additional $13 billion in India through 2030 to expand AI and cloud infrastructure, reinforcing long-term growth ambitions in a key market. Article Title
• Positive Sentiment: Prime Day appears to be generating strong demand, with reports pointing to record sales expectations and early momentum from AI-driven shopping activity. Article Title
• Positive Sentiment: Several analysts reiterated bullish views, including Wells Fargo and BMO Capital, signaling continued confidence in Amazon’s cloud, advertising, and AI-driven earnings power. Article Title
• Neutral Sentiment: Media coverage also highlighted Amazon as a stock that hedge funds and prominent investors continue to own heavily, but these are not immediate fundamental catalysts. Article Title
• Negative Sentiment: Some articles pointed to ongoing concerns about Amazon’s heavy capex, insider selling, and the stock breaking below key technical levels, which may be limiting gains. Article Title
• Negative Sentiment: Separately, EU regulators said Amazon’s cloud business may face stricter competition rules, adding a potential overhang for AWS. Article Title

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.