Amazon.com, Inc. $AMZN Shares Sold by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG lessened its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 15.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 669,781 shares of the e-commerce giant’s stock after selling 121,238 shares during the period. Amazon.com accounts for approximately 2.4% of J. Safra Sarasin Holding AG’s portfolio, making the stock its 5th biggest position. J. Safra Sarasin Holding AG’s holdings in Amazon.com were worth $139,221,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Amazon.com by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 832,274,556 shares of the e-commerce giant’s stock valued at $158,348,557,000 after purchasing an additional 8,913,959 shares during the last quarter. State Street Corp increased its holdings in shares of Amazon.com by 1.8% during the 4th quarter. State Street Corp now owns 388,653,121 shares of the e-commerce giant’s stock worth $89,708,913,000 after buying an additional 6,971,680 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Amazon.com by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 225,120,994 shares of the e-commerce giant’s stock valued at $51,753,622,000 after buying an additional 2,479,324 shares during the period. Norges Bank purchased a new stake in shares of Amazon.com during the 4th quarter valued at approximately $32,868,735,000. Finally, Auto Owners Insurance Co lifted its holdings in Amazon.com by 27,376.7% in 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 acquiring an additional 98,090,585 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

AMZN has been the subject of several analyst reports. TD Securities upgraded Amazon.com to a “buy” rating in a research report on Monday, April 13th. Wolfe Research restated an “outperform” rating and issued a $320.00 target price (up from $245.00) on shares of Amazon.com in a research report on Thursday, April 30th. Citigroup reaffirmed a “market outperform” rating on shares of Amazon.com in a research note on Wednesday, July 15th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Amazon.com in a report on Friday, June 26th. Finally, Wedbush reissued an “outperform” rating and set a $293.00 price objective on shares of Amazon.com in a research report on Thursday. Fifty-seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $312.91.

Key Headlines Impacting Amazon.com

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

• Positive Sentiment: Options data and several analyst/commentary pieces suggest traders expect a post-earnings move higher, and multiple firms remain bullish on AMZN heading into the July 30 report. Ahead of Amazon Earnings, Here’s What Barchart Data Says Comes Next for AMZN Stock
• Positive Sentiment: India eased e-commerce export rules, which is a win for Amazon’s international marketplace ambitions and could support long-term growth. India relaxes e-commerce investment rules for exports in win for Amazon
• Positive Sentiment: Several bullish research notes continue to frame AWS, custom silicon, and Amazon’s AI buildout as long-term growth drivers, with some investors arguing the capex surge should ultimately strengthen Amazon’s competitive moat. Amazon: Why The CapEx Surge Makes Me More Bullish, Not Less

Insiders Place Their Bets

In other news, SVP David Zapolsky sold 9,270 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was 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 of the company’s stock, valued at approximately $11,060,750.70. The trade was a 18.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jonathan Rubinstein sold 3,706 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $273.02, for a total transaction of $1,011,812.12. Following the sale, the director owned 74,948 shares in the company, valued at $20,462,302.96. The trade was a 4.71% decrease in their ownership of the stock. 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 have sold 140,425 shares of company stock worth $37,715,464. Corporate insiders own 8.90% of the company’s stock.

Amazon.com Trading Down 0.7%

Shares of AMZN stock opened at $232.11 on Friday. 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 50 day moving average price of $248.26 and a 200 day moving average price of $236.32. The stock has a market capitalization of $2.50 trillion, a P/E ratio of 27.76, a price-to-earnings-growth ratio of 1.74 and a beta of 1.46. 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 released 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. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The firm had revenue of $181.52 billion during the quarter, compared to analysts’ expectations of $177.28 billion. During the same period in the previous year, the firm posted $1.59 EPS. Amazon.com’s revenue for the quarter was up 16.6% on a year-over-year basis. Equities research analysts predict that Amazon.com, Inc. will post 7.75 EPS for the current fiscal year.

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.