Aristotle Atlantic Partners Cuts Stake in Amazon.com Amid Rising Earnings
Aristotle Atlantic Partners LLC has reduced its stake in Amazon.com by 0.5% during the first quarter, according to its latest disclosure with the Securities and Exchange Commission (SEC). The fund sold 1,898 shares of the e-commerce giant's stock, resulting in a portfolio value of $87,399,000. Amazon accounts for approximately 4.1% of Aristotle Atlantic Partners LLC's investment portfolio.
The e-commerce giant reported a revenue of $200.61 billion during the second quarter, exceeding analysts' expectations of $197.03 billion. The company's net margin was 17.44%, and its return on equity was 18.00%. Amazon's revenue increased by 19.6% compared to the same quarter last year.
Analysts have raised their price targets for Amazon, with Truist Financial setting a target of $350.00 and Zacks Research upgrading the stock to 'Strong Buy' with a target of $322.56. However, some investors are concerned about Amazon's massive capital expenditure expansion, which may pressure free cash flow and margins if AI monetization slows.