Amazon.com, Inc. $AMZN Stock Holdings Cut by Sterling Capital Management LLC

Sterling Capital Management LLC reduced its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 11.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 221,047 shares of the e-commerce giant’s stock after selling 27,270 shares during the quarter. Amazon.com comprises 1.1% of Sterling Capital Management LLC’s portfolio, making the stock its 12th biggest position. Sterling Capital Management LLC’s holdings in Amazon.com were worth $55,074,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Trust Asset Management LLC grew 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 valued at $26,000 after purchasing an additional 3,414 shares during the period. TOP Private Wealth LLC. acquired a new stake in Amazon.com in the second quarter worth $29,000. Bard Associates Inc. acquired a new stake in Amazon.com in the second quarter worth $32,000. Longfellow Investment Management Co. LLC acquired a new stake in Amazon.com in the second quarter worth $33,000. Finally, Atomic Invest LLC boosted its position in shares of Amazon.com by 41.2% during the second quarter. Atomic Invest LLC now owns 168 shares of the e-commerce giant’s stock worth $40,000 after purchasing an additional 49 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AMZN. KeyCorp set a $345.00 price target on shares of Amazon.com and gave the company an “overweight” rating in a report on Friday, October 30th. Monness Crespi & Hardt upped their price objective on shares of Amazon.com from $315.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $330.00 price objective on shares of Amazon.com in a research note on Friday, October 30th. Scotiabank reduced their target price on Amazon.com from $325.00 to $300.00 and set a “sector outperform” rating on the stock in a report on Friday, October 30th. Finally, Citigroup reissued a “market outperform” rating on shares of Amazon.com in a research note on Friday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, fifty-five have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Amazon.com presently has an average rating of “Moderate Buy” and a consensus target price of $321.74.

Key Amazon.com News

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

• Positive Sentiment: AWS growth could be a major long-term catalyst. CEO Andy Jassy sees AWS potentially becoming a $1 trillion business over the next decade, with strong AI demand supporting rapid growth. That outlook may help reassure investors that Amazon’s large infrastructure investments can generate substantial future revenue. Article: Amazon’s CEO Andy Jassy Just Announced Huge News for Amazon Investors
• Positive Sentiment: Advertising remains another growth engine. Amazon’s ad revenue grew 12% in the latest quarter, and management expects high-teens growth next, offering a potential boost beyond retail and cloud. Article: Not Alphabet. Not Meta. This Is the Digital Advertising Stock I’d Buy Right Now
• Neutral Sentiment: Amazon is testing text-based shopping with Alexa for selected U.S. customers. The AI assistant can help find products, build carts and complete purchases; the feature could improve shopping convenience, though its impact on sales is not yet clear. Article: Amazon rolls out text-based shopping through Alexa
• Negative Sentiment: Spending and cash-flow concerns remain a near-term overhang. Despite record operating margins, investors are scrutinizing the cash required for Amazon’s AI and data-center buildout. Its latest quarterly EPS and revenue also came in slightly below consensus estimates. Article: Amazon Just Delivered a Record-Breaking Quarter. But There’s One Number Investors Shouldn’t Ignore
• Negative Sentiment: Potential data-center rules could raise costs. Midterm election results have increased attention on restrictions that could require Amazon and other tech companies to pay more of the power and grid costs associated with their data centers, potentially complicating expansion plans. Article: Microsoft and Google Face a New Bill as Data Centers Have to Pay Their Own Costs

Amazon.com Stock Down 0.3%

Amazon.com stock opened at $259.30 on Friday. The company has a 50 day moving average of $253.96 and a 200-day moving average of $243.57. The company has a quick ratio of 0.82, a current ratio of 0.99 and a debt-to-equity ratio of 0.28. Amazon.com, Inc. has a twelve month low of $196.00 and a twelve month high of $287.20. The stock has a market capitalization of $2.80 trillion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 1.97 and a beta of 1.49.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, October 29th. The e-commerce giant reported $1.89 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $202.22 billion. During the same quarter in the previous year, the business earned $1.95 earnings per share. The company’s revenue was up 12.1% on a year-over-year basis. On average, equities research analysts anticipate that Amazon.com, Inc. will post 7.80 EPS for the current fiscal year.

Insider Transactions at Amazon.com

In other Amazon.com news, CFO Brian Olsavsky sold 6,172 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $260.31, for a total transaction of $1,606,633.32. Following the completion of the transaction, the chief financial officer owned 109,207 shares in the company, valued at approximately $28,427,674.17. This represents a 5.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew S. Garman sold 14,541 shares of Amazon.com stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $259.06, for a total value of $3,766,991.46. Following the completion of the sale, the chief executive officer directly owned 17,794 shares in the company, valued at $4,609,713.64. This represents a 44.97% 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. In the last 90 days, insiders sold 71,589 shares of company stock worth $18,545,595. Company insiders own 8.90% of the company’s stock.

Amazon.com Company Profile

Amazon.com, Inc is a technology and e-commerce company founded by Jeff Bezos in 1994 as an online bookstore. It has since grown into a global business serving consumers, sellers, developers, enterprises and content creators.

Amazon operates online stores and marketplaces, where it sells products directly and enables third-party sellers to reach customers. Its other businesses include Amazon Web Services, which provides cloud computing and related services; digital advertising; Prime memberships; and entertainment offerings such as streaming video and music.