42,223 Shares in Amazon.com, Inc. $AMZN Purchased by Summit Asset Management LLC

Summit Asset Management LLC acquired a new position in Amazon.com, Inc. (NASDAQ:AMZN) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 42,223 shares of the e-commerce giant’s stock, valued at approximately $10,063,000. Amazon.com makes up about 1.3% of Summit Asset Management LLC’s investment portfolio, making the stock its 9th largest holding.

Several other hedge funds have also recently modified their holdings of AMZN. Trust Asset Management LLC lifted its holdings in Amazon.com by 3.3% during the second quarter. Trust Asset Management LLC now owns 107,563 shares of the e-commerce giant’s stock worth $26,000 after acquiring an additional 3,414 shares during the period. MilWealth Group LLC increased its holdings in Amazon.com by 79.0% during the fourth quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant’s stock worth $41,000 after buying an additional 79 shares during the last quarter. Lifetime Wealth Management P.C. purchased a new position in Amazon.com in the fourth quarter valued at about $45,000. Elkhorn Partners Limited Partnership grew its position in shares of Amazon.com by 900.0% during the 4th quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant’s stock valued at $46,000 after acquiring an additional 180 shares during the period. Finally, Fairway Wealth LLC increased its stake in shares of Amazon.com by 95.6% during the 4th 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 last quarter. Institutional investors own 72.20% of the company’s stock.

Amazon.com News Summary

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

• Positive Sentiment: AWS expands its custom-chip strategy. Amazon and Qualcomm announced a multi-generation collaboration to develop customized AI data-center silicon, initially focused on AWS inference, along with optical-connectivity solutions of up to 1.6T. The agreement diversifies Amazon’s supply chain beyond Nvidia, Broadcom and its internally developed Trainium chips, while supporting AWS’s long-term AI infrastructure buildout. Qualcomm Announces Multi-Generational Product Collaboration with Amazon
• Positive Sentiment: Profitability remains a key investment argument. Commentary highlighted AWS’s roughly 39% operating margin and recent acceleration in cloud growth as reasons investors may view Amazon’s valuation as attractive, particularly with the stock trading near its 50-day moving average and below its recent high. Amazon’s AWS Operating Margin
• Neutral Sentiment: Amazon is preparing a sterling bond offering. The company has hired banks for its first sterling-denominated bond sale, apparently seeking additional funding sources for major AI and infrastructure investments. The move may improve financing flexibility, but it also underscores the scale of Amazon’s capital requirements. Amazon Hires Banks for First Sterling Bond Sale
• Negative Sentiment: Fatal Prime Air crash increases operational and reputational risk. Federal investigators are examining why a contractor-operated Boeing 767 cargo jet overshot the Miami runway by about 1,300 feet, killing five people. The investigation could bring additional scrutiny to Amazon Air’s contractor oversight, logistics practices and potential liability. Investigators Probe Amazon Cargo Plane Crash
• Negative Sentiment: Employment lawsuit adds legal and regulatory uncertainty. Four former warehouse workers allege Amazon discriminated against pregnant employees by penalizing medically necessary breaks and absences. The class-action complaint could create litigation costs and renewed scrutiny of warehouse labor policies. Amazon Sued for Allegedly Discriminating Against Pregnant Workers

Amazon.com Stock Performance

Amazon.com stock opened at $256.97 on Wednesday. The firm’s 50 day simple moving average is $254.88 and its 200 day simple moving average is $243.41. The company has a current ratio of 1.03, a quick ratio of 0.87 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $2.77 trillion, a PE ratio of 20.67, a price-to-earnings-growth ratio of 1.99 and a beta of 1.44. Amazon.com, Inc. has a 1-year low of $196.00 and a 1-year high of $287.20.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, July 30th. The e-commerce giant reported $5.75 EPS for the quarter, beating the consensus estimate of $1.82 by $3.93. The firm had revenue of $200.61 billion during the quarter, compared to the consensus estimate of $197.03 billion. Amazon.com had a net margin of 17.44% and a return on equity of 18.00%. The business’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same period last year, the firm earned $1.68 EPS. As a group, analysts expect that Amazon.com, Inc. will post 8.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AMZN shares. TD Cowen restated a “buy” rating and issued a $350.00 target price (up from $340.00) on shares of Amazon.com in a research note on Friday, July 31st. Roth Capital restated a “buy” rating and issued a $325.00 price objective on shares of Amazon.com in a research note on Monday, August 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Amazon.com in a report on Monday, August 3rd. Pivotal Research reiterated a “buy” rating and issued a $333.00 target price (up from $320.00) on shares of Amazon.com in a research note on Friday, July 31st. Finally, Piper Sandler reissued an “overweight” rating and issued a $320.00 price target (up from $315.00) on shares of Amazon.com in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, fifty-six have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $323.26.

Insider Buying and Selling

In other news, SVP David Zapolsky sold 9,258 shares of Amazon.com stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $259.77, for a total transaction of $2,404,950.66. Following the completion of the sale, the senior vice president owned 41,190 shares in the company, valued at approximately $10,699,926.30. This trade represents a 18.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew R. Jassy sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $259.01, for a total transaction of $5,180,200.00. Following the completion of the transaction, the chief executive officer owned 2,235,766 shares in the company, valued at approximately $579,085,751.66. This trade represents a 0.89% 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. Insiders have sold a total of 71,589 shares of company stock valued at $18,568,785 in the last ninety days. 8.90% of the stock is owned by insiders.

About Amazon.com

Amazon.com, Inc is a global technology and e-commerce company that operates online marketplaces and provides a broad range of consumer products and services. Its retail business sells merchandise directly to customers and enables third-party sellers to offer products through Amazon’s websites and applications. The company also operates physical stores and provides services such as digital content, subscriptions, and consumer devices, including Kindle and Echo products.

Amazon Web Services (AWS) provides cloud computing, storage, database, analytics, artificial intelligence, machine learning, and other technology services to businesses, governments, and organizations.