Amazon.com, Inc. $AMZN Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its position in Amazon.com, Inc. (NASDAQ:AMZN) by 3.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,534,830 shares of the e-commerce giant’s stock after selling 298,314 shares during the quarter. Amazon.com comprises approximately 2.1% of Pictet Asset Management Holding SA’s investment portfolio, making the stock its 6th biggest holding. Pictet Asset Management Holding SA’s holdings in Amazon.com were worth $1,985,101,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AMZN. Narwhal Capital Management increased its position in shares of Amazon.com by 2.3% in the 4th quarter. Narwhal Capital Management now owns 216,606 shares of the e-commerce giant’s stock valued at $49,997,000 after acquiring an additional 4,854 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Amazon.com by 21.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 24,653,228 shares of the e-commerce giant’s stock worth $5,690,463,000 after buying an additional 4,275,942 shares during the last quarter. Weaver Capital Management LLC raised its position in Amazon.com by 13.6% during the 4th quarter. Weaver Capital Management LLC now owns 39,264 shares of the e-commerce giant’s stock worth $9,063,000 after buying an additional 4,713 shares during the last quarter. Ethos Financial Group LLC boosted its holdings in shares of Amazon.com by 9.6% in the 4th quarter. Ethos Financial Group LLC now owns 36,485 shares of the e-commerce giant’s stock valued at $8,421,000 after acquiring an additional 3,196 shares during the last quarter. Finally, Baltimore Washington Financial Advisors Inc. boosted its holdings in Amazon.com by 1.9% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 239,862 shares of the e-commerce giant’s stock valued at $52,667,000 after purchasing an additional 4,558 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMZN has been the subject of a number of recent research reports. Wolfe Research reiterated an “outperform” rating and set a $320.00 price objective (up from $245.00) on shares of Amazon.com in a research note on Thursday, April 30th. Guggenheim restated a “buy” rating and issued a $320.00 target price (up from $300.00) on shares of Amazon.com in a research note on Thursday, April 30th. KeyCorp raised their target price on Amazon.com from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. BMO Capital Markets lifted their price target on Amazon.com from $310.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Finally, Phillip Securities raised Amazon.com from a “moderate buy” rating to a “buy” rating and set a $280.00 price target for the company in a report on Wednesday, May 13th. Fifty-seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $312.79.

Key Stories Impacting Amazon.com

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

• Positive Sentiment: Amazon said its Leo satellite network has enough satellites to begin initial broadband service this year, opening a new growth opportunity in satellite internet. Reuters: Amazon to start initial Leo internet service this year as network nears 400 satellites
• Positive Sentiment: Amazon is expanding its AI strategy with custom device chips and broader AWS AI capabilities, which could support future margins and growth. CNBC: Amazon is designing its own AI chips for Echo, Fire TV and future devices
• Positive Sentiment: Prime Day-related reports pointed to strong online shopping demand, reinforcing confidence in Amazon’s retail momentum heading into earnings. Yahoo Finance/Reuters: Online Spending Rises 5.3% on First Day of Amazon’s Prime Day

Amazon.com Price Performance

Shares of Amazon.com stock opened at $242.67 on Friday. 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, Inc. has a twelve month low of $196.00 and a twelve month high of $278.56. The business has a 50-day moving average price of $254.57 and a 200 day moving average price of $234.57. The firm has a market cap of $2.61 trillion, a PE ratio of 29.03, a P/E/G ratio of 1.81 and a beta of 1.46.

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, topping analysts’ consensus estimates of $1.63 by $1.15. The company had revenue of $181.52 billion during the quarter, compared to analysts’ expectations of $177.28 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.Amazon.com’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.59 EPS. Sell-side analysts predict that Amazon.com, Inc. will post 7.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, VP Shelley Reynolds sold 2,363 shares of Amazon.com stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $262.38, for a total value of $620,003.94. Following the sale, the vice president owned 119,780 shares of the company’s stock, valued at approximately $31,427,876.40. This trade represents a 1.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew R. Jassy sold 20,000 shares of Amazon.com stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $263.42, for a total transaction of $5,268,400.00. Following the completion of the sale, the chief executive officer directly owned 2,205,766 shares in the company, valued at $581,042,879.72. This represents a 0.90% 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. Over the last three months, insiders sold 195,774 shares of company stock valued at $51,643,704. 8.90% of the stock is owned by insiders.

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.