Steinberganna Invests $1.5M in Amazon as Vanguard, State Street Boost Stakes
Steinberganna Wealth Management acquired 6,893 Amazon shares in Q3, valued at $1.513M, making it its 28th largest holding (0.7% of portfolio). In Q2, Vanguard raised its AMZN stake by 17.45M shares (+2.1%), State Street added 5.16M (+1.4%) and Geode topped up 3.72M shares (+1.7%).
1. Steinberganna Wealth Management Enters Amazon Position
In its third-quarter SEC filing, Steinberganna Wealth Management revealed the purchase of 6,893 shares of Amazon.com, Inc., representing approximately $1.513 million in market value. This new position now constitutes about 0.7% of Steinberganna’s total portfolio, making Amazon its 28th largest holding. The move signals confidence in Amazon’s long-term growth trajectory, as the e-commerce and cloud computing leader continues to expand margins and capture market share across retail logistics, subscription services and enterprise cloud solutions.
2. Major Institutional Adjustments to Amazon Stake
Several prominent asset managers fine-tuned their Amazon positions during the second quarter. Vanguard Group increased its stake by 2.1%, adding 17.45 million shares to reach a total of 849.72 million shares. State Street Corporation raised its holding by 1.4%, or 5.16 million shares, bringing its total to 374.10 million shares. Geode Capital Management grew its position by 3.72 million shares, a 1.7% increase to 216.72 million shares. Remarkably, Kingstone Capital Partners Texas boosted its Amazon shares by 132.62 million, a 542,734% jump to 132.64 million shares. Meanwhile, Norges Bank initiated a new position valued at approximately $27.44 billion. Collectively, institutional investors and hedge funds now own 72.2% of Amazon’s outstanding shares.
3. Insider Sales and Analyst Outlook
During November, Director Daniel P. Huttenlocher sold 1,237 shares for proceeds of $280,317, reducing his stake by 4.52% to 26,148 shares. CEO Andrew R. Jassy divested 19,872 shares for $4.31 million, a 0.89% reduction that left him with 2.21 million shares. Over the past three months, insiders have sold 79,734 shares totaling $18.53 million, with insiders owning 9.7% of the stock. On the research front, one analyst rates Amazon at Strong Buy, 54 at Buy and four at Hold, resulting in a consensus Moderate Buy rating and an average target price implying roughly 24% upside from current levels. Recent earnings beat expectations with $1.95 EPS on $180.17 billion in revenue, reflecting 13.4% year-over-year revenue growth and a net margin above 11%.