PRIMECAP Management Co Reduces Amazon Stake by 1,089,100 Shares

PRIMECAP Management Co, managed by Theofanis Kolokotrones, recently executed a significant transaction involving Amazon.Com, Inc. ((AMZN)). The hedge fund reduced its position by 1,089,100 shares.

Recent Updates on Amazon.Com, Inc. stock

Amazon.com, Inc. (AMZN) has recently experienced a mix of positive earnings and cautious analyst adjustments. The company reported record-breaking revenue of $187.8 billion for Q4 2024, with a 61% increase in operating income, driven by strong performance in AWS and advertising segments. However, analysts like Phillip Securities and Truist have adjusted their ratings and price targets due to valuation concerns and foreign exchange headwinds. Despite these adjustments, analysts remain optimistic about Amazon’s potential, citing its strategic positioning in AI, e-commerce, and cloud services. Deutsche Bank and DA Davidson raised their price targets for Amazon, reflecting confidence in its growth prospects amidst challenges such as AWS capacity constraints and FX impacts.

More about Amazon.Com, Inc.

YTD Price Performance: 5.69%

Average Trading Volume: 36,974,963

Current Market Cap: $2470.8B