Drive Wealth Management LLC Acquires 2,177 Shares of Amazon.com, Inc. $AMZN

Drive Wealth Management LLC increased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 5.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,204 shares of the e-commerce giant’s stock after buying an additional 2,177 shares during the period. Amazon.com accounts for 1.8% of Drive Wealth Management LLC’s investment portfolio, making the stock its 11th biggest position. Drive Wealth Management LLC’s holdings in Amazon.com were worth $9,280,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Amazon.com by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 832,274,556 shares of the e-commerce giant’s stock worth $158,348,557,000 after buying an additional 8,913,959 shares during the period. State Street Corp boosted its holdings in Amazon.com by 2.0% in the 3rd quarter. State Street Corp now owns 381,681,441 shares of the e-commerce giant’s stock worth $83,805,794,000 after buying an additional 7,584,156 shares during the period. Geode Capital Management LLC boosted its holdings in Amazon.com by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 216,717,657 shares of the e-commerce giant’s stock worth $47,332,625,000 after buying an additional 3,721,658 shares during the period. Norges Bank bought a new position in Amazon.com in the 2nd quarter worth approximately $27,438,011,000. Finally, Northern Trust Corp boosted its holdings in Amazon.com by 0.3% in the 1st quarter. Northern Trust Corp now owns 97,379,134 shares of the e-commerce giant’s stock worth $18,527,354,000 after buying an additional 302,858 shares during the period. 72.20% of the stock is owned by institutional investors.

Amazon.com News Roundup

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

• Positive Sentiment: Amazon moved Prime Day to June 23-26 and kept it a four-day event, which could lift near-term e-commerce sales and membership engagement. Reuters Prime Day article
• Positive Sentiment: The event will include new Alexa AI features, reinforcing Amazon’s AI strategy and potentially improving shopping conversion. Forbes article on Alexa AI-powered Prime Day
• Positive Sentiment: Analyst commentary remained constructive, with bullish Wall Street coverage and price-target increases helping support the stock. Zacks analyst article
• Neutral Sentiment: Amazon’s cloud and AI businesses continue to draw attention, including reports that AWS is expanding AI-related investment and that its Anthropic stake has become far more valuable. Business Insider article on Anthropic stake
• Negative Sentiment: Amazon faces fresh regulatory and legal pressure, including an EU cloud procurement review that could make it harder for AWS to win certain government contracts. Reuters EU cloud rules article
• Negative Sentiment: Amazon’s Ring unit was hit with a class-action privacy lawsuit over facial recognition features, adding to ongoing data-privacy scrutiny. Reuters Ring lawsuit article
• Negative Sentiment: Investor sentiment may also be weighed by a report that Stanley Druckenmiller sharply reduced his Amazon position, which can be read as a cautious signal from a high-profile fund manager. Motley Fool Druckenmiller article

Amazon.com Stock Performance

Amazon.com stock opened at $256.52 on Wednesday. The firm’s fifty day moving average price is $246.43 and its 200-day moving average price is $232.58. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.18. The stock has a market cap of $2.76 trillion, a P/E ratio of 30.68, a price-to-earnings-growth ratio of 1.96 and a beta of 1.44. Amazon.com, Inc. has a fifty-two week low of $196.00 and a fifty-two week high of $278.56.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data 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 firm 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 business’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the company posted $1.59 EPS. On average, equities research analysts expect that Amazon.com, Inc. will post 7.71 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Citizens Jmp reiterated a “market outperform” rating and issued a $315.00 target price on shares of Amazon.com in a research note on Friday, April 10th. The Goldman Sachs Group reiterated a “buy” 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 increased their target price on shares of Amazon.com from $285.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Rosenblatt Securities increased their target price on shares of Amazon.com from $296.00 to $332.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $330.00 target price (up from $280.00) on shares of Amazon.com in a research note on Thursday, April 30th. Fifty-seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $312.52.

Insider Activity

In other news, CEO Matthew S. Garman sold 15,467 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $263.40, for a total transaction of $4,074,007.80. Following the sale, the chief executive officer owned 14,159 shares in the company, valued at approximately $3,729,480.60. This trade represents a 52.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Shelley Reynolds sold 2,363 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $262.38, for a total transaction of $620,003.94. Following the sale, the vice president owned 119,780 shares in the company, valued at approximately $31,427,876.40. This trade represents a 1.93% 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 90 days, insiders have sold 194,774 shares of company stock worth $51,348,244. Corporate 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.