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

Sterling Capital Management LLC reduced its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 11.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 221,047 shares of the e-commerce giant’s stock after selling 27,270 shares during the quarter. Amazon.com makes up approximately 1.1% of Sterling Capital Management LLC’s holdings, making the stock its 12th largest holding. Sterling Capital Management LLC’s holdings in Amazon.com were worth $55,074,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp boosted its stake in Amazon.com by 5.5% in 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 bought a new stake in shares of Amazon.com during the second quarter worth $22,218,775,000. Bank of New York Mellon Corp bought a new stake in shares of Amazon.com during the second quarter worth $16,341,405,000. Amundi increased its stake in shares of Amazon.com by 3.9% in the second quarter. Amundi now owns 63,822,242 shares of the e-commerce giant’s stock valued at $15,211,393,000 after buying an additional 2,421,739 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in shares of Amazon.com in the second quarter valued at $12,831,376,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Amazon.com

In related news, CEO Douglas Herrington sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $243.47, for a total transaction of $243,470.00. Following the completion of the sale, the chief executive officer directly owned 473,681 shares of the company’s stock, valued at $115,327,113.07. The trade was a 0.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $259.06, for a total transaction of $3,766,991.46. Following the completion of the transaction, the chief executive officer owned 17,794 shares in the company, valued at $4,609,713.64. This represents a 44.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 71,589 shares of company stock worth $18,545,595 over the last 90 days. Insiders own 8.90% of the company’s stock.

Amazon.com Price Performance

Shares of AMZN stock opened at $259.30 on Friday. The stock has a 50-day moving average price of $253.96 and a 200 day moving average price 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. The firm has a market cap of $2.80 trillion, a price-to-earnings ratio of 20.96, a PEG ratio of 1.97 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 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). The business had revenue of $201.94 billion for the quarter, compared to analyst estimates of $202.22 billion. Amazon.com had a net margin of 16.90% and a return on equity of 15.72%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.95 earnings per share. Research analysts expect that Amazon.com, Inc. will post 7.80 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $360.00 price target on shares of Amazon.com in a report on Friday, October 30th. Monness Crespi & Hardt increased their price objective on shares of Amazon.com from $315.00 to $330.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Truist Financial set a $390.00 price objective on shares of Amazon.com in a report on Friday, October 30th. Weiss Ratings restated a “buy (b)” rating on shares of Amazon.com in a research report on Friday, October 30th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $330.00 target price 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 issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus 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

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.