Platform Wealth Management LLC Buys Shares of 97,237 Amazon.com, Inc. $AMZN

Platform Wealth Management LLC bought a new stake in Amazon.com, Inc. (NASDAQ:AMZN) in the fourth quarter, HoldingsChannel reports. The fund bought 97,237 shares of the e-commerce giant’s stock, valued at approximately $22,444,000. Amazon.com comprises 6.0% of Platform Wealth Management LLC’s portfolio, making the stock its 5th largest position.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Amazon.com by 1.1% during the first quarter. Vanguard Group Inc. now owns 832,274,556 shares of the e-commerce giant’s stock worth $158,348,557,000 after buying an additional 8,913,959 shares during the period. State Street Corp raised its holdings in Amazon.com by 2.0% during the third quarter. State Street Corp now owns 381,681,441 shares of the e-commerce giant’s stock worth $83,805,794,000 after acquiring an additional 7,584,156 shares in the last quarter. Geode Capital Management LLC raised its holdings in Amazon.com by 1.1% during the fourth 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 in the last quarter. Norges Bank bought a new stake in Amazon.com during the fourth quarter worth about $32,868,735,000. Finally, Northern Trust Corp raised its holdings in Amazon.com by 0.3% during the first quarter. Northern Trust Corp now owns 97,379,134 shares of the e-commerce giant’s stock worth $18,527,354,000 after acquiring an additional 302,858 shares in the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AMZN shares. Weiss Ratings upgraded Amazon.com from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. BNP Paribas Exane upped their price objective on Amazon.com from $320.00 to $345.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Truist Financial upped their price objective on Amazon.com from $310.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Citizens Jmp restated a “market outperform” rating and issued a $315.00 price objective on shares of Amazon.com in a research note on Friday, April 10th. Finally, Citigroup restated a “market outperform” rating on shares of Amazon.com in a research note on Monday, June 1st. Fifty-seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $312.52.

Insider Transactions at Amazon.com

In other news, CEO Andrew R. Jassy sold 31,352 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $275.00, for a total transaction of $8,621,800.00. Following the transaction, the chief executive officer owned 2,175,766 shares in the company, valued at approximately $598,335,650. This trade represents a 1.42% decrease in their ownership of the stock. The sale 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 Douglas J. Herrington sold 27,500 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $275.00, for a total value of $7,562,500.00. Following the transaction, the chief executive officer owned 471,361 shares in the company, valued at approximately $129,624,275. This trade represents a 5.51% 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. Insiders have sold a total of 195,774 shares of company stock worth $51,614,434 in the last ninety days. 8.90% of the stock is currently owned by company insiders.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $238.00 on Thursday. The firm has a market cap of $2.56 trillion, a P/E ratio of 28.47, a price-to-earnings-growth ratio of 1.83 and a beta of 1.44. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. Amazon.com, Inc. has a 1-year low of $196.00 and a 1-year high of $278.56. The business’s 50 day moving average is $252.26 and its 200-day moving average is $233.44.

Amazon.com (NASDAQ:AMZN) last announced its earnings results 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 company 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%.The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.59 earnings per share. Equities research analysts predict that Amazon.com, Inc. will post 7.71 earnings per share for the current year.

Trending Headlines about Amazon.com

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

• Positive Sentiment: Amazon is strengthening its AI and cloud position with the rollout of a faster in-house Graviton5 CPU for AWS customers, which supports its long-term competitive edge in cloud computing and AI workloads.
• Positive Sentiment: BMO reportedly named Amazon one of its top AI picks, reinforcing bullish Wall Street sentiment around the company’s AI and AWS growth story.
• Positive Sentiment: Amazon secured a $17.5 billion delayed-draw term loan facility, giving it additional financial flexibility to keep funding data centers, AI infrastructure, and other growth investments. Reuters article on Amazon securing $17.5 billion loan facility amid AI-driven capex ramp
• Positive Sentiment: Amazon’s expanded partnership activity, including Pinterest storefront integrations and additional commerce tie-ins, could help drive product discovery and more sales through its marketplace.
• Positive Sentiment: Amazon also expanded its less-than-truckload freight service to outside businesses, which could open a new logistics revenue stream and deepen its role in supply-chain services.
• Neutral Sentiment: Several articles highlighted Amazon’s growing role in AI infrastructure, including supply-chain and fiber-related deals, which are strategically important but still more about future growth than immediate earnings impact.
• Negative Sentiment: The large loan facility and ongoing AI infrastructure buildout are also reminding investors that Amazon’s capital expenditures are rising sharply, which can pressure near-term margins and explain some of the stock’s weakness.
• Negative Sentiment: Some commentary suggests the market is increasingly focused on Amazon’s heavy spending and financing needs, creating concern that the company may be prioritizing long-term growth at the expense of near-term profitability.

Amazon.com Company Profile

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.