Sky Investment Group LLC Boosts Stake in Amazon.com, Inc. $AMZN

Sky Investment Group LLC boosted its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 7.6% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,539 shares of the e-commerce giant’s stock after acquiring an additional 2,808 shares during the quarter. Amazon.com accounts for about 1.4% of Sky Investment Group LLC’s investment portfolio, making the stock its 27th largest position. Sky Investment Group LLC’s holdings in Amazon.com were worth $8,235,000 as of its most recent SEC filing.

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

Amazon.com News Summary

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

• Positive Sentiment: Prime Day demand appears to be supporting sentiment, with reports of strong early online spending and investor expectations for a Q2 revenue beat. Reuters: US online spending hits $8.3 billion as Amazon Prime Day kicks off, Adobe says
• Positive Sentiment: Amazon’s Zoox autonomous vehicle unit unveiled a redesigned robotaxi and said it is preparing for larger-scale production and a wider commercial rollout later this year, reinforcing the company’s long-term optionality in mobility. CNBC: Amazon’s Zoox unveils redesigned robotaxi ahead of upcoming expansion
• Positive Sentiment: Wall Street commentary remains constructive, with analysts and major investors highlighting Amazon’s AWS growth, AI shopping tools, and advertising/Prime businesses as reasons the stock can keep compounding over time. Benzinga: Cathie Wood Is Rebuilding The Magnificent 7 Trade
• Neutral Sentiment: Amazon’s AWS and AI teams continue to promote new capabilities, including expanded Bedrock functionality and commentary that AI will reshape white-collar work rather than eliminate it, which supports the long-term AI narrative but does not create an immediate catalyst. Zacks: Amazon Strengthens Bedrock Ecosystem: What’s Next for Enterprise AI?
• Negative Sentiment: Some investors remain concerned that heavy AI infrastructure spending and Prime Day timing shifts could pressure future comparisons, and Amazon has also faced added noise from labor and regulatory headlines. MarketBeat: Amazon’s Pullback Deepens as a New FTC Risk Hits the Stock

Amazon.com Price Performance

Shares of Amazon.com stock opened at $234.24 on Thursday. The business has a 50 day moving average of $256.29 and a 200 day moving average of $234.16. Amazon.com, Inc. has a 52 week low of $196.00 and a 52 week high of $278.56. The company has a market cap of $2.52 trillion, a PE ratio of 28.02, a P/E/G ratio of 1.75 and a beta of 1.44. The company has a quick ratio of 1.01, a current ratio of 1.18 and a debt-to-equity ratio of 0.27.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share for the quarter, beating the consensus estimate of $1.63 by $1.15. The business had revenue of $181.52 billion for the quarter, compared to analysts’ expectations of $177.28 billion. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.59 earnings per share. As a group, equities research analysts forecast that Amazon.com, Inc. will post 7.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

AMZN has been the topic of several research reports. Citizens Jmp restated a “market outperform” rating and set a $315.00 price objective on shares of Amazon.com in a research report on Friday, April 10th. Scotiabank reissued an “outperform” rating and issued a $325.00 target price (up from $275.00) on shares of Amazon.com in a research note on Thursday, April 30th. Roth Mkm raised their price target on Amazon.com from $285.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Rosenblatt Securities raised their price target on Amazon.com from $296.00 to $332.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, Truist Financial lifted their price target on Amazon.com from $310.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Fifty-seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $312.78.

Insider Activity

In other Amazon.com news, SVP David Zapolsky sold 9,270 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $268.53, for a total value of $2,489,273.10. Following the completion of the sale, the senior vice president directly owned 41,190 shares in the company, valued at $11,060,750.70. This trade represents a 18.37% decrease in their ownership of the stock. The sale 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 Andrew R. Jassy sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $263.42, for a total value of $5,268,400.00. Following the transaction, the chief executive officer owned 2,205,766 shares in the company, valued at $581,042,879.72. This trade represents a 0.90% 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. In the last three months, insiders have sold 195,774 shares of company stock worth $51,614,434. 8.90% of the stock is owned by company insiders.

About Amazon.com

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.