In its latest SEC filing, Steinberganna Wealth Management disclosed the purchase of 6,893 shares of Amazon during Q3, representing a $1.513 million investment and accounting for 0.7% of its portfolio. This stake makes Amazon the firm’s 28th largest holding, reflecting growing institutional confidence in the e-commerce leader’s long-term growth trajectory and diversification into cloud services.

Other prominent asset managers also boosted positions in Amazon this past year. Vanguard Group added 17.45 million shares in Q2—lifting its total to 849.72 million shares—while State Street increased its stake by 5.16 million shares to 374.10 million. Geode Capital acquired 3.72 million additional shares, and Kingstone Capital Partners Texas expanded its holding by a staggering 132.62 million shares. Collectively, institutional investors now own over 72% of Amazon’s outstanding equity.

Meanwhile, insider activity has tilted toward selling. Director Daniel P. Huttenlocher divested 1,237 shares in late November, reducing his holding by 4.52%, and CEO Andy Jassy sold 19,872 shares the following day for a combined value exceeding $4.3 million. Over the past three months, insiders have sold 79,734 shares valued at $18.5 million, representing 9.7% of total insider ownership and potentially signaling cautious near-term sentiment among company leaders.

In its Q3 release, Amazon reported adjusted EPS of $1.95, beating consensus by $0.38, and revenue of $180.2 billion, up 13.4% year-over-year. AWS continued its rapid expansion, contributing to an 11.06% net margin and a 23.62% return on equity. Following the beat, five major brokerages raised price targets—ranging from mid-$260s to mid-$350s—and reiterated Buy ratings, driving the consensus target to approximately mid-$290s and underpinning a Moderate Buy consensus among 59 analysts.