Steinberganna Buys $1.513M Amazon Position as Vanguard and State Street Expand Stakes
Steinberganna Wealth Management acquired 6,893 Amazon shares valued at $1.513M in Q3, representing 0.7% of its portfolio and its 28th largest holding. Vanguard increased its Amazon stake by 17.45M shares to 849.72M, while State Street added 5.16M shares in Q2.
1. Institutional Investors Increase Stakes in Amazon
During the third quarter, Steinberganna Wealth Management established a new position in Amazon by acquiring 6,893 shares valued at approximately $1.513 million, representing 0.7% of its portfolio and ranking as its 28th largest holding. Across the industry, Vanguard Group boosted its position by 2.1%, adding 17.45 million shares to reach 849.72 million shares, while State Street increased its stake by 1.4% with an additional 5.16 million shares for a total of 374.10 million. Geode Capital added 3.72 million shares to its 216.72 million‐share holding, and Kingstone Capital Partners Texas dramatically expanded its position by 542,733.6%, acquiring 132.62 million shares. Norges Bank also initiated a new stake valued at $27.44 billion. Collectively, institutional investors now own 72.20% of the company’s stock.
2. Insider Sales Reflect Cautious Positioning
In late November, Director Daniel P. Huttenlocher sold 1,237 shares at an average price of $226.61, generating proceeds of $280,317 and reducing his direct holding by 4.52% to 26,148 shares. The following day, Chief Executive Officer Andrew R. Jassy divested 19,872 shares at an average of $216.94 for proceeds of $4.31 million, trimming his ownership by 0.89% to 2,208,310 shares. Over the past three months, insiders have collectively sold 79,734 shares, valued at $18.53 million, leaving insider ownership at 9.70%.
3. Q3 Results Beat and Analyst Upgrades Signal Continued Growth
In the quarter ended September 30, the company reported earnings per share of $1.95, topping consensus estimates by $0.38, on revenue of $180.17 billion versus forecasts of $177.53 billion, reflecting 13.4% year-over-year growth. Net margin reached 11.06% with return on equity of 23.62%. The cloud computing division surpassed a $132 billion annual revenue run rate, driven in part by AI services, while e-commerce efficiency gains improved cost metrics. Research firms have responded with bullish outlooks: five major analysts raised target prices, including projections up to $350, and the consensus rating stands at Moderate Buy with an average target of $295.42, implying mid-teens upside potential based on current forecasts.