Amazon.com, Inc. $AMZN Stock Purchased by Wedmont Private Capital

Wedmont Private Capital grew its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 26.1% during the third quarter, Holdings Channel reports. The institutional investor owned 220,898 shares of the e-commerce giant’s stock after acquiring an additional 45,674 shares during the period. Amazon.com makes up about 1.3% of Wedmont Private Capital’s holdings, making the stock its 15th largest position. Wedmont Private Capital’s holdings in Amazon.com were worth $54,575,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp raised its holdings in Amazon.com by 5.5% during the second quarter. State Street Corp now owns 411,848,346 shares of the e-commerce giant’s stock worth $95,504,904,000 after purchasing an additional 21,398,025 shares in the last quarter. Bank of America Corp DE acquired a new stake in Amazon.com in the second quarter worth approximately $22,218,775,000. Bank of New York Mellon Corp bought a new position in Amazon.com during the 2nd quarter valued at $16,341,405,000. Amundi boosted its stake in Amazon.com by 3.9% during the 2nd quarter. Amundi now owns 63,822,242 shares of the e-commerce giant’s stock valued at $15,211,393,000 after purchasing an additional 2,421,739 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Amazon.com by 3.3% during the 4th quarter. Invesco Ltd. now owns 59,604,857 shares of the e-commerce giant’s stock valued at $13,757,993,000 after purchasing an additional 1,879,630 shares during the period. 72.20% of the stock is currently owned by institutional investors.

Insider Activity at Amazon.com

In other Amazon.com news, SVP David Zapolsky sold 9,258 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were 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 directly owned 41,190 shares in the company, valued at $10,699,926.30. This trade represents a 18.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas Herrington sold 1,000 shares of Amazon.com stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $251.50, for a total transaction of $251,500.00. Following the completion of the transaction, the chief executive officer directly owned 474,681 shares in the company, valued at approximately $119,382,271.50. This trade represents a 0.21% decrease in their ownership of the stock. 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 71,589 shares of company stock valued at $18,580,515. Corporate insiders own 8.90% of the company’s stock.

Amazon.com Price Performance

Shares of NASDAQ AMZN traded down $4.76 during mid-day trading on Friday, reaching $250.00. The company had a trading volume of 40,277,007 shares, compared to its average volume of 36,398,520. 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 stock has a market cap of $2.70 trillion, a PE ratio of 20.11, a P/E/G ratio of 1.97 and a beta of 1.45. The company has a 50-day moving average price of $256.75 and a two-hundred day moving average price of $251.57. 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 earnings results on Thursday, July 30th. The e-commerce giant reported $5.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $3.93. The company had revenue of $200.61 billion for the quarter, compared to analyst estimates of $197.03 billion. Amazon.com had a return on equity of 18.00% and a net margin of 17.44%. Amazon.com’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.68 earnings per share. On average, equities analysts anticipate that Amazon.com, Inc. will post 8.03 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Pivotal Research reissued a “buy” rating and issued a $333.00 price objective (up from $320.00) on shares of Amazon.com in a research note on Friday, July 31st. Piper Sandler reaffirmed an “overweight” rating and set a $320.00 target price (up from $315.00) on shares of Amazon.com in a research note on Friday, July 31st. Wedbush lifted their target price on Amazon.com from $293.00 to $310.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 target price on shares of Amazon.com in a report on Friday, July 31st. Finally, Cantor Fitzgerald dropped their price target on shares of Amazon.com from $320.00 to $310.00 and set an “overweight” rating on the stock in a research report on Monday, October 12th. Fifty-six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $322.53.

Amazon.com News Summary

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

• Positive Sentiment: AWS remains the central growth and profit driver. Amazon’s cloud business grew at its fastest pace in 18 quarters during the second quarter, and investors will focus closely on whether that momentum continued. Strong AWS growth could support a higher valuation. Amazon earnings outlook
• Positive Sentiment: Analysts continue to view Amazon as a major beneficiary of AI adoption through AWS, custom chips and related products. The company’s AI initiatives could improve future cash flow, while strong holiday e-commerce demand and a growing advertising business provide additional support. Amazon AI cash flow outlook
• Positive Sentiment: Amazon’s acquisition of Bee is expanding its consumer AI strategy. New Bee Frontier and Bee Eclipse devices, along with a paid software tier, give the company new opportunities in hardware, subscriptions and AI-assisted shopping. Amazon Bee AI devices
• Neutral Sentiment: Amazon has scheduled its third-quarter results and conference call for Oct. 29. The report is likely to be the next major catalyst, particularly for AWS growth, capital expenditures, operating margins and management’s AI investment outlook. Amazon earnings announcement
• Negative Sentiment: Broad technology stocks are under pressure as inflation concerns increase expectations for higher interest rates, prompting investors to favor value and dividend-paying sectors. That market-wide rotation is weighing on mega-cap technology names, including AMZN. Technology sector decline
• Negative Sentiment: Investors remain concerned that Amazon’s roughly $220 billion AI commitment and rising capital expenditures may pressure near-term free cash flow. Capacity constraints and potentially falling AI-compute pricing add to doubts about the return on that spending.
• Negative Sentiment: Elon Musk’s proposal for an “X Shop” or “Grokazon” introduces a potential long-term competitive risk after Amazon blocked some AI shopping agents. The issue could encourage rivals to challenge Amazon’s position in agent-driven commerce. Potential Amazon rival

Amazon.com Profile

Amazon.com, Inc is a global technology and commerce company that operates online marketplaces, physical stores, and a broad portfolio of digital and cloud-based services. The company offers consumer products across categories such as electronics, household goods, apparel, groceries, and entertainment, while also providing third-party sellers with tools for listing, selling, and fulfilling orders.

Amazon’s major businesses include Amazon Web Services (AWS), which provides cloud computing, storage, database, analytics, and artificial intelligence services; Prime, a membership program that includes shipping, streaming, and other benefits; and digital entertainment services such as Prime Video, Amazon Music, Kindle, and Audible.