In the third quarter, Shum Financial Group Inc. acquired 11,553 shares of Amazon.com, Inc., representing a new position valued at approximately $2.54 million. This allocation now comprises 1.9% of Shum’s total portfolio, making Amazon its 16th largest holding. The transaction underscores growing institutional confidence in Amazon’s long-term growth prospects, with overall hedge fund and institutional ownership in the company standing at 72.2%.

Amazon’s latest quarterly report delivered earnings per share of $1.95, surpassing the consensus estimate of $1.57 by 24%. Revenue rose 13.4% year-over-year to $180.17 billion, topping forecasts by $2.64 billion. The company achieved an 11.1% net margin and a 23.6% return on equity, reflecting strength across e-commerce and high-margin AWS cloud services. This performance follows a 1-year stock trading range of $161.38 to $258.60 and supports expectations for full-year EPS of $6.31.

Following the earnings beat, a wave of brokerages raised price objectives and maintained buy ratings. HSBC lifted its target from $260 to $285, Loop Capital increased its objective from $300 to $360, and Deutsche Bank moved its target from $278 to $300. Among 61 analysts covering the name, 57 carry buy or strong-buy ratings, supporting an average target near $295. Institutional inflows and positive analyst revisions reflect broad optimism regarding Amazon’s cloud growth and expanding advertising business.