Fund 1 Investments Cuts Amazon Stake by Two-Thirds
Fund 1 Investments LLC significantly reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN) during the second quarter, cutting its holdings by 66.0%. According to the company's latest 13F filing with the SEC, the fund sold 96,846 shares, leaving it with 50,000 shares. This adjustment leaves Amazon.com accounting for 2.0% of Fund 1 Investments LLC's portfolio, making it the 19th largest holding. The remaining shares were valued at $11,917,000 at the end of the reporting period.
Other institutional investors made varying adjustments to their Amazon.com positions during the quarter. Trust Asset Management LLC increased its stake by 3.3%, acquiring an additional 3,414 shares to hold 107,563 shares worth $26,000. Bard Associates Inc., Longfellow Investment Management Co. LLC, and Lifetime Wealth Management P.C. all established new positions in Amazon.com during the second and fourth quarters, with investments ranging from $32,000 to $45,000. Prudent Man Investment Management Inc. boosted its stake by 87.7% during the fourth quarter, now owning 229 shares worth $53,000.
Analysts have shown strong support for Amazon.com, with Goldman Sachs adding it to its conviction list and New Street raising its price target to $385 while maintaining a Buy rating. Analysts cited AWS growth, generative AI exposure, and potential retail-margin improvement as reasons for long-term upside. However, concerns remain about profitability and regulatory risks, including potential tougher EU cloud rules and warehouse labor actions.
Amazon.com's stock opened at $251.52 on Monday, with a 50-day moving average of $257.06 and a two-hundred-day moving average of $248.51. The company has a market capitalization of $2.71 trillion, a P/E ratio of 20.23, and a PEG ratio of 1.95. Insider transactions include CEO Douglas Herrington and CFO Brian Olsavsky selling shares in August, with Herrington selling 6,362 shares and Olsavsky selling 6,172 shares, both under pre-arranged Rule 10b5-1 trading plans.