Shikiar Asset Management Inc. Sells 2,728 Shares of Amazon.com, Inc. $AMZN

Shikiar Asset Management Inc. cut its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.9% in the first quarter, HoldingsChannel.com reports. The fund owned 89,929 shares of the e-commerce giant’s stock after selling 2,728 shares during the period. Amazon.com makes up about 5.4% of Shikiar Asset Management Inc.’s investment portfolio, making the stock its 2nd biggest position. Shikiar Asset Management Inc.’s holdings in Amazon.com were worth $18,730,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. MilWealth Group LLC boosted its stake in shares of Amazon.com by 79.0% in the fourth quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant’s stock worth $41,000 after acquiring an additional 79 shares during the last quarter. Lifetime Wealth Management P.C. purchased a new position in Amazon.com in the 4th quarter valued at $45,000. Elkhorn Partners Limited Partnership boosted its stake in Amazon.com by 900.0% during the 4th quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant’s stock worth $46,000 after purchasing an additional 180 shares during the last quarter. Fairway Wealth LLC boosted its stake in Amazon.com by 95.6% during the 4th quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant’s stock worth $51,000 after purchasing an additional 108 shares during the last quarter. Finally, Prudent Man Investment Management Inc. grew its holdings in shares of Amazon.com by 87.7% during the fourth quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant’s stock worth $53,000 after buying an additional 107 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Activity

In related news, CEO Matthew S. Garman sold 15,467 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $263.40, for a total value of $4,074,007.80. Following the sale, the chief executive officer directly owned 14,159 shares in the company, valued at approximately $3,729,480.60. The trade was a 52.21% decrease in their position. The sale was disclosed in a filing 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, VP Shelley Reynolds sold 2,363 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $262.38, for a total transaction of $620,003.94. Following the completion of the transaction, the vice president directly owned 119,780 shares in the company, valued at $31,427,876.40. The trade was a 1.93% 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. In the last ninety days, insiders sold 195,774 shares of company stock worth $51,643,704. 8.90% of the stock is currently owned by corporate insiders.

More Amazon.com News

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

• Positive Sentiment: Needham reiterated a Buy rating and $300 price target on Amazon, signaling continued optimism ahead of earnings. Wall Street analyst updates Amazon stock price target
• Positive Sentiment: TD Cowen said Amazon’s accelerating AWS cloud business should help deliver strong second-quarter results, reinforcing the core growth story. Amazon’s accelerating cloud business to deliver strong Q2—TD Cowen
• Positive Sentiment: Amazon is expanding its AI and infrastructure footprint, including reports that it has enough satellites in orbit to begin rolling out Amazon Leo broadband and is deepening AWS security offerings in Europe. Amazon.com (AMZN) A Top AI Stock on Wall Street Radar Pursuing Broadband Service Opportunities
• Neutral Sentiment: Amazon’s exposure to Anthropic and broader AI infrastructure spending continues to be viewed as a long-term growth lever, but it also highlights how much the stock is being tied to the success of the AI boom. Want Anthropic Exposure Before the IPO? These 2 AI Giants Are Already There
• Negative Sentiment: The new bond sale and broader AI capex push are raising concerns about leverage, future borrowing costs, and the timeline for returns, especially as some investors question whether the AI spend is becoming excessive. Amazon’s $25 billion ‘surprise’ bond sale dangled extra yield…
• Negative Sentiment: Reports of insider selling and a cooler tone in tech sentiment are adding to the pressure on the shares near term. Amazon (AMZN) Stock Rises as It Taps Debt Market for $25 Billion AI Push

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AMZN shares. Citigroup reiterated a “market outperform” rating on shares of Amazon.com in a research report on Monday, June 1st. DZ Bank upped their price objective on shares of Amazon.com from $295.00 to $320.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Bank of America increased their price objective on shares of Amazon.com from $298.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Roth Capital raised their target price on shares of Amazon.com from $285.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, UBS Group set a $315.00 target price on Amazon.com in a report 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $312.62.

Amazon.com Trading Down 1.0%

AMZN opened at $243.62 on Thursday. The stock has a market capitalization of $2.62 trillion, a PE ratio of 29.14, a P/E/G ratio of 1.83 and a beta of 1.46. Amazon.com, Inc. has a one year low of $196.00 and a one year high of $278.56. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.18. The business’s 50 day moving average price is $253.64 and its 200 day moving average price is $235.10.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $1.15. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The company had revenue of $181.52 billion for the quarter, compared to the consensus estimate of $177.28 billion. During the same quarter in the previous year, the business earned $1.59 earnings per share. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. As a group, equities research analysts expect that Amazon.com, Inc. will post 7.75 EPS for the current year.

Amazon.com 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.