Kovitz Investment Group Partners LLC Sells 2,120,549 Shares of Amazon.com, Inc. $AMZN

Kovitz Investment Group Partners LLC lessened its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 87.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 293,339 shares of the e-commerce giant’s stock after selling 2,120,549 shares during the quarter. Amazon.com accounts for 1.5% of Kovitz Investment Group Partners LLC’s investment portfolio, making the stock its 10th largest position. Kovitz Investment Group Partners LLC’s holdings in Amazon.com were worth $67,708,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Brighton Jones LLC lifted its position in shares of Amazon.com by 10.9% during the 4th quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant’s stock valued at $885,478,000 after acquiring an additional 397,007 shares during the period. Revolve Wealth Partners LLC grew its holdings in shares of Amazon.com by 4.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant’s stock worth $5,495,000 after acquiring an additional 986 shares during the period. Bank Pictet & Cie Europe AG increased its stake in Amazon.com by 2.8% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant’s stock valued at $442,481,000 after purchasing an additional 54,987 shares in the last quarter. Highview Capital Management LLC DE raised its holdings in Amazon.com by 5.5% during the fourth quarter. Highview Capital Management LLC DE now owns 28,975 shares of the e-commerce giant’s stock worth $6,357,000 after purchasing an additional 1,518 shares during the last quarter. Finally, Liberty Square Wealth Partners LLC acquired a new position in Amazon.com during the fourth quarter worth $2,153,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Key Stories Impacting Amazon.com

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

• Positive Sentiment: Analysts are increasingly bullish on Amazon’s AI and cloud positioning, with multiple firms reiterating Buy ratings and highlighting AWS as a long-term growth driver. Brian Pitz Reiterates Amazon as Top Pick, Maintains Buy Rating and $355 Price Target on Strengthening AI and Cloud Positioning
• Positive Sentiment: Amazon is reportedly exploring sales of its Trainium AI chips to external data center customers, which could open a new revenue stream and deepen its challenge to Nvidia. Amazon exploring selling its custom AI chips to data center customers
• Positive Sentiment: Prime Day is approaching, and Bank of America expects the event to drive strong sales while boosting adoption of Amazon’s AI shopping tools, including Alexa for Shopping. Bank of America Lays Out Expectations Ahead of Amazon Stock’s Prime Day
• Positive Sentiment: Amazon is investing more than €10 billion to expand its European fulfillment network, signaling continued support for e-commerce capacity and logistics efficiency. Amazon Commits €10 Billion for European fulfillment network
• Neutral Sentiment: Amazon is facing EU scrutiny over whether AWS should be classified as a “gatekeeper” under the Digital Markets Act, which could increase regulatory oversight for the cloud unit. Microsoft and Amazon Face EU Digital Markets Act Scrutiny Over Cloud Dominance
• Neutral Sentiment: Amazon MGM Studios dropped the nearly finished OpenAI film “Artificial” after the companies’ broader partnership shift, a move with limited direct financial impact but notable signaling value. Luca Guadagnino’s Sam Altman, OpenAI Film ‘Artificial’ Dropped by Amazon MGM Studios
• Negative Sentiment: Amazon is also dealing with employee and public scrutiny over AI data center expansion and labor practices, which could add regulatory and reputational pressure. Amazon investigating engineers who criticized AI data center expansion

Amazon.com Price Performance

NASDAQ:AMZN opened at $244.39 on Friday. The firm has a market cap of $2.63 trillion, a price-to-earnings ratio of 29.23, a price-to-earnings-growth ratio of 1.83 and a beta of 1.44. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average is $256.51 and its two-hundred day moving average is $234.12. Amazon.com, Inc. has a 12-month low of $196.00 and a 12-month high of $278.56.

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

Insider Activity

In other Amazon.com news, CEO Douglas J. Herrington sold 1,000 shares of Amazon.com stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $266.19, for a total value of $266,190.00. Following the completion of the sale, the chief executive officer directly owned 485,527 shares of the company’s stock, valued at approximately $129,242,432.13. The trade was a 0.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Shelley Reynolds sold 2,363 shares of the business’s 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 completion of the transaction, the vice president owned 119,780 shares of the company’s stock, valued at $31,427,876.40. This trade represents a 1.93% decrease in their ownership of the stock. 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 have sold 195,774 shares of company stock valued at $51,614,434 in the last 90 days. Insiders own 8.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AMZN shares. Monness Crespi & Hardt upped their target price on Amazon.com from $280.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Amazon.com in a research note on Tuesday. DA Davidson boosted their price objective on shares of Amazon.com from $175.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. TD Cowen reissued a “buy” rating and issued a $350.00 price objective on shares of Amazon.com in a research note on Tuesday, May 12th. Finally, Mizuho raised their target price on shares of Amazon.com from $315.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Fifty-seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $312.78.

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.