Amazon.com, Inc. $AMZN Shares Sold by First Horizon Corp

First Horizon Corp reduced its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.8% during the 1st quarter, HoldingsChannel reports. The firm owned 102,253 shares of the e-commerce giant’s stock after selling 2,992 shares during the period. First Horizon Corp’s holdings in Amazon.com were worth $21,296,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position 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 acquiring an additional 8,913,959 shares during the period. State Street Corp raised its stake in 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 valued at $89,708,913,000 after acquiring an additional 6,971,680 shares during the last quarter. Geode Capital Management LLC lifted its position in 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 worth $51,753,622,000 after acquiring an additional 2,479,324 shares during the period. Norges Bank acquired a new stake in Amazon.com during the 4th quarter worth approximately $32,868,735,000. Finally, Auto Owners Insurance Co grew its stake in shares of Amazon.com by 27,376.7% in the 4th 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 purchasing an additional 98,090,585 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com News Roundup

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

• Positive Sentiment: Amazon Business reached a $60 billion annualized sales run rate, with more than 1.8 million organizations joining in the first half of the year, reinforcing the strength of Amazon’s B2B platform. Amazon Business Hits $60 Billion in Annualized Sales
• Positive Sentiment: Multiple articles highlighted Amazon as an attractive AI cloud stock, citing AWS growth, a lower valuation than Microsoft, and improving sentiment around Amazon’s AI infrastructure buildout. Amazon vs. Microsoft: Which AI Cloud Titan Is the Better Investment?
• Positive Sentiment: Analysts and commentators continued to argue that Amazon is undervalued relative to its AI capex plans, with bullish takes focused on AWS, Trainium chips, and the company’s strategic position in artificial intelligence. Is Amazon.com (AMZN) Undervalued Following Its $200b AI Infrastructure Push?
• Neutral Sentiment: Amazon also got publicity from Jeff Bezos-related and Amazon-marketplace stories, plus a new satellite-business finance hire, but these items are unlikely to move the stock much by themselves. Amazon taps Alexa executive as Leo satellite business’s first finance VP
• Neutral Sentiment: Bill Ackman reportedly called Amazon a “cheap stock,” adding to the bullish long-term narrative, but this is more sentiment support than a direct catalyst. Bill Ackman Says META and AMZN Are ‘Cheap Stocks’ Despite Their Massive Size
• Negative Sentiment: A separate report said Amazon may be losing some competitive edge on delivery speed, which could reinforce worries about retail margin pressure and execution. Amazon may be losing its biggest competitive edge
• Negative Sentiment: Some coverage focused on Amazon’s large AI spending plans and shrinking free cash flow, suggesting investors are still skeptical that the capex will translate into near-term profits. Big Tech Is Minting Mountains of Cash — But Amazon’s Is Vanishing
• Negative Sentiment: There was also an article warning that Amazon’s cash-flow picture needs watching ahead of earnings, keeping attention on whether the AI and cloud investments are paying off fast enough. Amazon’s (AMZN) AI Strategy Continues to Grow, but Cash Flow Needs Watching

Insider Activity at Amazon.com

In other news, CEO Douglas J. Herrington sold 1,000 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $239.77, for a total transaction of $239,770.00. Following the transaction, the chief executive officer directly owned 484,527 shares of the company’s stock, valued at $116,175,038.79. This represents a 0.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew S. Garman sold 15,467 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $263.40, for a total transaction of $4,074,007.80. Following the completion of the transaction, the chief executive officer owned 14,159 shares of the company’s stock, valued at $3,729,480.60. This represents a 52.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 144,274 shares of company stock worth $38,716,204. 8.90% of the stock is currently owned by insiders.

Amazon.com Stock Down 1.0%

AMZN opened at $247.55 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.01. Amazon.com, Inc. has a 12 month low of $196.00 and a 12 month high of $278.56. The stock has a market capitalization of $2.66 trillion, a P/E ratio of 29.61, a P/E/G ratio of 1.86 and a beta of 1.46. The business has a 50 day simple moving average of $250.08 and a 200-day simple moving average of $236.20.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $1.15. The firm had revenue of $181.52 billion for the quarter, compared to analyst estimates of $177.28 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.Amazon.com’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.59 earnings per share. On average, equities analysts anticipate that Amazon.com, Inc. will post 7.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AMZN shares. Royal Bank Of Canada reissued a “buy” rating on shares of Amazon.com in a report on Tuesday, June 16th. KeyCorp set a $335.00 price target on Amazon.com and gave the stock an “overweight” rating in a report on Thursday, July 16th. TD Cowen reiterated a “buy” rating and issued a $340.00 price objective (down from $350.00) on shares of Amazon.com in a research report on Wednesday, July 8th. UBS Group set a $315.00 price objective on shares of Amazon.com in a research note on Monday, June 1st. Finally, Telsey Advisory Group upped their price objective on shares of Amazon.com from $300.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Fifty-seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Amazon.com has a consensus rating of “Moderate Buy” and an average target price of $312.91.

About Amazon.com

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.