Seamount Financial Group Inc. Sells 2,370 Shares of Amazon.com, Inc. $AMZN

Seamount Financial Group Inc. reduced its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 5.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,523 shares of the e-commerce giant’s stock after selling 2,370 shares during the period. Amazon.com comprises approximately 4.1% of Seamount Financial Group Inc.’s portfolio, making the stock its 4th biggest holding. Seamount Financial Group Inc.’s holdings in Amazon.com were worth $10,595,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Bank of America Corp DE purchased a new stake in Amazon.com during the second quarter valued at about $22,218,775,000. Bank of New York Mellon Corp purchased a new position in shares of Amazon.com in the second quarter worth about $16,341,405,000. Legal & General Group Plc purchased a new position in shares of Amazon.com in the second quarter worth about $12,831,376,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Amazon.com in the 2nd quarter valued at about $6,631,466,000. Finally, Jupiter Topco LLC bought a new stake in shares of Amazon.com in the 2nd quarter valued at about $5,910,083,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com News Summary

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

• Positive Sentiment: AWS growth and demand are driving optimism. AWS revenue grew nearly 40% in the latest quarter, while its $578 billion backlog points to substantial future demand. Management expects AWS growth above 40% in 2027 and 2028, helping bolster the long-term AI and cloud outlook. Article: Amazon Has Erased Its Earnings Sell-Off, But Is the Biggest Opportunity Still Ahead?
• Positive Sentiment: Market conditions favored large technology companies. A post-election rally lifted Big Tech, with investors appearing less concerned that potential data-center restrictions would derail the largest cloud providers’ expansion plans. A reported cloud-capacity shortage may also give Amazon and peers room to raise prices. Article: Microsoft and Amazon combine for a $400 billion market-cap boost
• Positive Sentiment: Amazon is expanding Alexa shopping access. A new merchant workspace lets eligible sellers connect their stores to Alexa for Shopping and Amazon’s online properties, potentially broadening product selection and shopping engagement. Article: Amazon Offers Merchants New Connection to Alexa for Shopping
• Neutral Sentiment: Worldwide Amazon Stores CEO Douglas Herrington sold 1,000 shares under a pre-arranged Rule 10b5-1 plan, a small portion of his remaining holdings; the planned transaction is not necessarily a signal about the company’s outlook. SEC filing
• Negative Sentiment: AI investment is weighing on cash generation. Amazon’s roughly $220 billion spending plan is contributing to negative free cash flow, leaving investors focused on when infrastructure spending will produce returns. AI shopping agents could also challenge the advertising revenue and customer-data model used by Amazon and other retailers. Article: AI shopping agents could threaten Amazon and Walmart’s ad business

Wall Street Analyst Weigh In

Several research firms recently issued reports on AMZN. Citigroup restated a “market outperform” rating on shares of Amazon.com in a research report on Friday, October 30th. Yorkville Ives initiated coverage on Amazon.com in a research report on Monday, October 19th. They issued an “outperform” rating and a $300.00 price objective for the company. DA Davidson set a $250.00 price objective on Amazon.com and gave the company a “neutral” rating in a research report on Friday, October 30th. Bank of America reissued a “buy” rating and set a $317.00 price objective on shares of Amazon.com in a research note on Friday, October 30th. Finally, Mizuho raised their target price on shares of Amazon.com from $330.00 to $335.00 and gave the stock an “outperform” rating in a report on Friday, October 30th. Two analysts have rated the stock with a Strong Buy rating, fifty-five have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $321.74.

Amazon.com Stock Up 6.2%

Shares of Amazon.com stock opened at $266.31 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.82 and a debt-to-equity ratio of 0.28. The company’s fifty day simple moving average is $253.90 and its two-hundred day simple moving average is $243.32. The company has a market cap of $2.88 trillion, a P/E ratio of 21.53, a PEG ratio of 1.90 and a beta of 1.49. Amazon.com, Inc. has a 12-month low of $196.00 and a 12-month high of $287.20.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, October 29th. The e-commerce giant reported $1.89 EPS for the quarter, missing the consensus estimate of $1.97 by ($0.08). Amazon.com had a return on equity of 15.72% and a net margin of 16.90%. The company had revenue of $201.94 billion during the quarter, compared to analysts’ expectations of $202.22 billion. During the same period in the prior year, the business posted $1.95 earnings per share. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. Research analysts anticipate that Amazon.com, Inc. will post 7.80 EPS for the current year.

Insider Buying and Selling

In other Amazon.com news, CEO Andrew R. Jassy sold 20,000 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $259.01, for a total value 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 represents a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian T. Olsavsky sold 6,172 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $260.31, for a total value of $1,606,633.32. Following the completion of the transaction, the chief financial officer owned 109,207 shares of the company’s stock, valued at approximately $28,427,674.17. This trade represents a 5.35% 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. Insiders sold 71,589 shares of company stock valued at $18,545,595 over the last quarter. 8.90% of the stock is currently owned by insiders.

About Amazon.com

Amazon.com, Inc is a global technology and e-commerce company founded by Jeff Bezos in 1994. Originally launched as an online bookstore, the company has expanded into a broad digital marketplace offering consumer products across numerous categories, including electronics, household goods, apparel, groceries and other merchandise. Amazon also sells products under its own brands and provides logistics, fulfillment and delivery services that support its retail operations and third-party sellers.

The company’s principal businesses include online and physical retail, Amazon Web Services (AWS), digital advertising, subscription services and consumer technology.