Summit Financial Strategies Inc. Has $1.70 Million Position in Amazon.com, Inc. $AMZN

Summit Financial Strategies Inc. cut its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,750 shares of the e-commerce giant’s stock after selling 80 shares during the period. Summit Financial Strategies Inc.’s holdings in Amazon.com were worth $1,700,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of AMZN. Kingstone Capital Partners Texas LLC lifted its position in shares of Amazon.com by 542,733.6% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 132,641,388 shares of the e-commerce giant’s stock worth $29,100,194,000 after purchasing an additional 132,616,953 shares during the period. Nuveen LLC acquired a new stake in shares of Amazon.com in the 1st quarter valued at about $11,674,091,000. Goldman Sachs Group Inc. increased its stake in Amazon.com by 21.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 57,908,424 shares of the e-commerce giant’s stock valued at $11,017,657,000 after purchasing an additional 10,176,835 shares in the last quarter. Vanguard Group Inc. increased its stake in Amazon.com by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 832,274,556 shares of the e-commerce giant’s stock valued at $158,348,557,000 after purchasing an additional 8,913,959 shares in the last quarter. Finally, Amundi increased its stake in Amazon.com by 15.1% during the 1st quarter. Amundi now owns 55,337,037 shares of the e-commerce giant’s stock valued at $9,884,098,000 after purchasing an additional 7,267,277 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Stock Performance

Shares of AMZN stock opened at $220.07 on Tuesday. The company’s 50-day moving average is $226.10 and its 200 day moving average is $212.16. Amazon.com, Inc. has a one year low of $161.38 and a one year high of $242.52. The company has a market capitalization of $2.35 trillion, a price-to-earnings ratio of 33.55, a price-to-earnings-growth ratio of 1.43 and a beta of 1.28. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 1.02.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.37. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The firm had revenue of $167.70 billion during the quarter, compared to analyst estimates of $161.80 billion. During the same period in the previous year, the business posted $1.26 earnings per share. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. Amazon.com has set its Q3 2025 guidance at EPS. Sell-side analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Activity

In other news, CFO Brian T. Olsavsky sold 17,750 shares of Amazon.com stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $222.74, for a total transaction of $3,953,635.00. Following the sale, the chief financial officer owned 49,000 shares in the company, valued at $10,914,260. This trade represents a 26.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP David Zapolsky sold 13,570 shares of Amazon.com stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $222.76, for a total transaction of $3,022,853.20. Following the sale, the senior vice president owned 44,110 shares in the company, valued at approximately $9,825,943.60. The trade was a 23.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,864,716 shares of company stock valued at $2,486,013,854. Company insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

AMZN has been the subject of a number of recent analyst reports. Barclays upped their price objective on shares of Amazon.com from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. BNP Paribas upgraded shares of Amazon.com from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 27th. Jefferies Financial Group restated a “buy” rating on shares of Amazon.com in a research report on Thursday, September 11th. Roth Capital set a $250.00 price target on shares of Amazon.com and gave the stock a “buy” rating in a report on Tuesday, July 8th. Finally, Truist Financial lifted their price target on shares of Amazon.com from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. Three investment analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $266.26.

About Amazon.com

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.