GK Wealth Management LLC reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN – Free Report) by 17.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,620 shares of the e-commerce giant’s stock after selling 5,720 shares during the period. Amazon.com accounts for 3.6% of GK Wealth Management LLC’s holdings, making the stock its biggest holding. GK Wealth Management LLC’s holdings in Amazon.com were worth $6,628,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. State Street Corp increased its holdings in shares of 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 valued at $95,504,904,000 after acquiring an additional 21,398,025 shares in the last quarter. Auto Owners Insurance Co lifted its holdings 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 worth $2,272,397,000 after purchasing an additional 98,090,585 shares in the last quarter. Bank of America Corp DE bought a new position in shares of Amazon.com in the 2nd quarter worth $22,218,775,000. Bank of New York Mellon Corp bought a new position in shares of Amazon.com in the 2nd quarter worth $16,341,405,000. Finally, Amundi lifted its holdings in shares of Amazon.com by 3.9% in the 2nd quarter. Amundi now owns 63,822,242 shares of the e-commerce giant’s stock worth $15,211,393,000 after purchasing an additional 2,421,739 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.
Key Amazon.com News
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
Analysts Set New Price Targets
A number of brokerages have commented on AMZN. HSBC restated a “buy” rating and set a $310.00 price target on shares of Amazon.com in a research note on Friday, July 31st. Rosenblatt Securities upped their price objective on shares of Amazon.com from $335.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, September 30th. Oppenheimer reaffirmed an “outperform” rating on shares of Amazon.com in a research note on Friday, July 31st. Roth Capital reiterated a “buy” rating and set a $325.00 price objective on shares of Amazon.com in a report on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $325.00 price objective (up from $315.00) on shares of Amazon.com in a report on Friday, July 31st. Fifty-six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Amazon.com presently has a consensus rating of “Moderate Buy” and a consensus price target of $322.53.
Check Out Our Latest Stock Analysis on Amazon.com
Insider Buying and Selling at Amazon.com
In related news, CEO Andrew Jassy sold 20,000 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $259.01, for a total transaction of $5,180,200.00. Following the transaction, the chief executive officer directly owned 2,235,766 shares in the company, valued at approximately $579,085,751.66. The trade was a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Olsavsky sold 6,172 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $260.31, for a total transaction of $1,606,633.32. Following the completion of the sale, the chief financial officer directly owned 109,207 shares of the company’s stock, valued at $28,427,674.17. The trade was a 5.35% 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. Insiders sold 71,589 shares of company stock valued at $18,580,515 in the last quarter. 8.90% of the stock is owned by company insiders.
Amazon.com Price Performance
AMZN opened at $250.00 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.03 and a quick ratio of 0.87. The company has a market capitalization of $2.70 trillion, a price-to-earnings ratio of 20.11, a P/E/G ratio of 1.97 and a beta of 1.45. The firm’s fifty day moving average price is $256.75 and its two-hundred day moving average price is $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 – Get Free Report) last posted its earnings results on Thursday, July 30th. The e-commerce giant reported $5.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $3.93. The firm had revenue of $200.61 billion during the quarter, compared to analyst estimates of $197.03 billion. Amazon.com had a net margin of 17.44% and a return on equity of 18.00%. The business’s revenue was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.68 EPS. As a group, analysts anticipate that Amazon.com, Inc. will post 8.03 earnings per share for the current fiscal year.
About Amazon.com
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.
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