Riverstone Advisors LLC Sells 4,803 Shares of Amazon.com, Inc. $AMZN

Riverstone Advisors LLC lessened its position in Amazon.com, Inc. (NASDAQ:AMZN) by 5.7% during the first quarter, Holdings Channel reports. The institutional investor owned 79,461 shares of the e-commerce giant’s stock after selling 4,803 shares during the quarter. Amazon.com makes up approximately 8.2% of Riverstone Advisors LLC’s investment portfolio, making the stock its 3rd largest position. Riverstone Advisors LLC’s holdings in Amazon.com were worth $16,549,000 at the end of the most recent reporting period.

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

Amazon.com Price Performance

Shares of Amazon.com stock opened at $242.67 on Friday. The firm has a market cap of $2.61 trillion, a price-to-earnings ratio of 29.03, a P/E/G ratio of 1.81 and a beta of 1.46. The stock has a 50-day simple moving average of $254.57 and a 200-day simple moving average of $234.57. Amazon.com, Inc. has a 52-week low of $196.00 and a 52-week high of $278.56. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.01.

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

Trending Headlines about 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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Jefferies Financial Group restated a “buy” rating on shares of Amazon.com in a report on Thursday, June 18th. Raymond James Financial reissued an “outperform” rating and set a $280.00 price target on shares of Amazon.com in a research report on Friday, May 1st. Barclays reissued an “overweight” rating on shares of Amazon.com in a research note on Tuesday, June 9th. Scotiabank restated an “outperform” rating and set a $325.00 price objective (up from $275.00) on shares of Amazon.com in a research report on Thursday, April 30th. Finally, Susquehanna reaffirmed a “positive” rating and set a $325.00 target price (up from $300.00) on shares of Amazon.com in a research note on Thursday, April 30th. Fifty-seven investment 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 stock currently has an average rating of “Moderate Buy” and an average price target of $312.79.

Insider Activity

In other news, SVP David Zapolsky sold 9,270 shares of Amazon.com stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $268.53, for a total value of $2,489,273.10. Following the transaction, the senior vice president directly owned 41,190 shares in the company, valued at approximately $11,060,750.70. The trade was a 18.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 27,500 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $275.00, for a total value of $7,562,500.00. Following the transaction, the chief executive officer directly owned 471,361 shares of the company’s stock, valued at $129,624,275. This represents a 5.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 195,774 shares of company stock worth $51,643,704 in the last 90 days. Insiders own 8.90% of the company’s stock.

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.