6,105 Amazon.com, Inc. $AMZN Shares Sold by Angeles Wealth Management LLC

Angeles Wealth Management LLC cut its position in Amazon.com, Inc. (NASDAQ:AMZN) by 5.2% during the third quarter, Holdings Channel reports. The firm owned 112,419 shares of the e-commerce giant’s stock after selling 6,105 shares during the period. Amazon.com makes up approximately 1.1% of Angeles Wealth Management LLC’s portfolio, making the stock its 16th largest position. Angeles Wealth Management LLC’s holdings in Amazon.com were worth $28,009,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AMZN. Tigress Financial restated a “buy” rating and set a $385.00 price target (up from $315.00) on shares of Amazon.com in a report on Tuesday, October 6th. Rosenblatt Securities reissued a “buy” rating and set a $360.00 target price on shares of Amazon.com in a research report on Friday, October 30th. Scotiabank lowered their target price on shares of Amazon.com from $325.00 to $300.00 and set a “sector outperform” rating for the company in a report on Friday, October 30th. Zacks Research cut Amazon.com from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 14th. Finally, JPMorgan Chase & Co. boosted their price objective on Amazon.com from $330.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Two 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 currently has an average rating of “Moderate Buy” and an average price target of $321.74.

Key Stories Impacting Amazon.com

These are some of the AMZN stories that stood out recently:

• Positive Sentiment: Amazon remains an AI and cloud growth story: a recent investor article cited AWS revenue growth of 39% and projected growth above 40% in 2027 and 2028. Continued cloud momentum may support the investment case. The Motley Fool article
• Negative Sentiment: Amazon’s European unit and managers could face a criminal trial in Italy over alleged unpaid import VAT and customs duties on third-party cross-border sales. A trial could bring legal costs, penalties, or reputational risk; the allegations have not been resolved. Yahoo Finance article
• Negative Sentiment: United Airlines’ CEO reportedly criticized Amazon Leo as a mistake while praising Starlink’s competitive position, highlighting execution and competition risks for Amazon’s satellite initiative. Benzinga article

Insider Activity at Amazon.com

In other Amazon.com news, SVP David Zapolsky sold 9,258 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $259.77, for a total value of $2,404,950.66. Following the completion of the transaction, the senior vice president owned 41,190 shares in the company, valued at $10,699,926.30. This represents a 18.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Olsavsky sold 6,172 shares of Amazon.com stock in a transaction on 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 sale, the chief financial officer directly owned 109,207 shares in the company, valued at $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 have sold a total of 71,589 shares of company stock valued at $18,545,595 over the last 90 days. Corporate insiders own 8.90% of the company’s stock.

Amazon.com Stock Down 0.3%

Shares of NASDAQ AMZN opened at $266.66 on Friday. The company has a market capitalization of $2.88 trillion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 2.03 and a beta of 1.49. The firm’s 50-day moving average is $254.82 and its two-hundred day moving average is $244.32. Amazon.com, Inc. has a 12-month low of $196.00 and a 12-month high of $287.20. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.99 and a quick ratio of 0.82.

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

About Amazon.com

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.