Wed Sep 25 09:57:12 UTC 2024: ## Robinson Smith Wealth Advisors Boosts Amazon Stake, Institutional Investors Remain Bullish

**New York, NY – September 25, 2024** – Robinson Smith Wealth Advisors LLC increased its stake in e-commerce giant Amazon.com, Inc. (NASDAQ: AMZN) by 17.5% during the second quarter, according to the firm’s latest Form 13F filing with the Securities and Exchange Commission (SEC). This represents an acquisition of 1,214 additional shares, bringing their total ownership to 8,151 shares. Amazon.com now accounts for 1.4% of Robinson Smith Wealth Advisors LLC’s portfolio, making it their 20th largest holding.

This move by Robinson Smith Wealth Advisors reflects a broader trend of institutional investor interest in Amazon.com. Other notable investors who have recently adjusted their positions in the company include Hantz Financial Services Inc., which acquired a new stake valued at $148,018,000, DiNuzzo Private Wealth Inc. which increased its stake by 44.1%, Wolf Group Capital Advisors, which raised its stake by 13.1%, and Kings Path Partners LLC and TFB Advisors LLC, both of whom acquired new stakes in the company.

Overall, institutional investors own 72.20% of Amazon.com’s stock, indicating strong confidence in the company’s future performance.

While Amazon.com’s stock opened at $193.96 on Wednesday, the company has been the subject of numerous research reports. Needham & Company LLC has maintained a “buy” rating with a $210.00 target price. UBS Group has increased their target price to $224.00 and also maintains a “buy” rating. Despite some analysts, such as Piper Sandler and Itau BBA Securities, lowering their target prices, Robert W. Baird has increased their target price to $213.00 and maintains an “outperform” rating.

Despite recent insider sales, including a sale of 1,228,993 shares by CEO Jeffrey P. Bezos in July, overall, Amazon.com, Inc. continues to be a strong performer in the retail and technology sector. The company’s focus on e-commerce, cloud computing (AWS), and digital media continues to drive growth, attracting institutional investors and analysts alike.

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