Amazon.com, Inc. $AMZN Shares Sold by Mystic Asset Management Inc.

Mystic Asset Management Inc. cut its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 20.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,453 shares of the e-commerce giant’s stock after selling 5,208 shares during the quarter. Amazon.com comprises approximately 1.1% of Mystic Asset Management Inc.’s investment portfolio, making the stock its 19th biggest position. Mystic Asset Management Inc.’s holdings in Amazon.com were worth $5,096,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Silvant Capital Management LLC acquired a new position in Amazon.com during the second quarter worth $60,065,000. Public Employees Retirement System of Ohio purchased a new position in shares of Amazon.com during the second quarter worth $909,868,000. Northstar Financial Companies Inc. acquired a new stake in shares of Amazon.com in the second quarter valued at $3,376,000. Gryphon Financial Partners LLC grew its stake in shares of Amazon.com by 7.5% in the first quarter. Gryphon Financial Partners LLC now owns 73,085 shares of the e-commerce giant’s stock valued at $15,221,000 after buying an additional 5,125 shares in the last quarter. Finally, First Citizens Bank & Trust Co. raised its holdings in shares of Amazon.com by 1.7% in the 1st quarter. First Citizens Bank & Trust Co. now owns 303,862 shares of the e-commerce giant’s stock valued at $63,285,000 after buying an additional 5,104 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Brian T. Olsavsky sold 6,172 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $260.31, for a total transaction of $1,606,633.32. Following the sale, the chief financial officer directly owned 109,207 shares in the company, valued at approximately $28,427,674.17. This represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 6,362 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $259.01, for a total transaction of $1,647,821.62. Following the completion of the sale, the chief executive officer directly owned 476,681 shares in the company, valued at approximately $123,465,145.81. This trade represents a 1.32% 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 have sold 71,589 shares of company stock worth $18,580,515. Corporate insiders own 8.90% of the company’s stock.

Key Amazon.com News

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

• Positive Sentiment: AWS growth is accelerating, with analysts focused on stronger demand for AI infrastructure, a large cloud backlog and potential margin expansion. Morgan Stanley named Amazon a top pick and raised its price target to $350, citing AWS growth, advertising, Prime, and fulfillment automation as additional catalysts. Amazon’s $350 Price Target Faces a Big Earnings Test
• Positive Sentiment: CEO Andy Jassy said Amazon’s Trainium chips could reduce AI inference costs, which he characterized as roughly 10 times too high today. Successful adoption of internally designed chips could lower AWS infrastructure costs and improve profitability. Amazon CEO Discusses AI Inference Costs and Trainium
• Positive Sentiment: Analysts also see longer-term upside from warehouse automation, logistics expansion and advertising monetization, while Amazon’s planned UK entry-level hiring initiative may support its workforce and public-image goals. Amazon Logistics Automation Offers Long-Term Margin Gains
• Neutral Sentiment: Investors are awaiting the October 29 quarterly report, which is expected to clarify AWS growth, cloud margins, capital-spending guidance, free-cash-flow recovery and early Prime Day demand. Amazon Earnings Scheduled for October 29
• Negative Sentiment: The $220 billion investment plan has pushed free cash flow into the red and raised concerns that AI spending may outpace near-term returns. Reports that Nvidia hardware is waiting for available data-center power add execution risk to the infrastructure buildout. Amazon AI Hardware Awaits Data-Center Power

Amazon.com Trading Down 1.0%

AMZN opened at $248.00 on Friday. Amazon.com, Inc. has a 12 month low of $196.00 and a 12 month high of $287.20. The stock has a market capitalization of $2.68 trillion, a price-to-earnings ratio of 19.95, a PEG ratio of 2.06 and a beta of 1.45. 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 business has a fifty day moving average price of $255.56 and a 200 day moving average price of $253.29.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, July 30th. The e-commerce giant reported $5.75 earnings per share for the quarter, topping the consensus estimate of $1.82 by $3.93. The company had revenue of $200.61 billion for the quarter, compared to the consensus estimate of $197.03 billion. Amazon.com had a return on equity of 18.00% and a net margin of 17.44%. Amazon.com’s revenue was up 19.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.68 EPS. Sell-side analysts expect that Amazon.com, Inc. will post 7.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on AMZN shares. Monness Crespi & Hardt raised their target price on Amazon.com from $315.00 to $330.00 and gave the company a “buy” rating in a report on Friday, July 31st. Citizens Jmp reiterated a “market outperform” rating and set a $315.00 price target on shares of Amazon.com in a research note on Friday, July 31st. HSBC reissued a “buy” rating and set a $310.00 price target on shares of Amazon.com in a research report on Friday, July 31st. DA Davidson reissued a “neutral” rating and issued a $250.00 price objective on shares of Amazon.com in a research note on Friday, July 31st. Finally, Royal Bank Of Canada raised their price objective on shares of Amazon.com from $320.00 to $330.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Fifty-seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $322.53.

About Amazon.com

Amazon.com, Inc is a global technology and e-commerce company founded by Jeff Bezos in 1994. Originally launched as an online bookstore, the company has expanded into a broad digital marketplace offering consumer products across numerous categories, including electronics, household goods, apparel, groceries and other merchandise. Amazon also sells products under its own brands and provides logistics, fulfillment and delivery services that support its retail operations and third-party sellers.

The company’s principal businesses include online and physical retail, Amazon Web Services (AWS), digital advertising, subscription services and consumer technology.