Coatue Management Reduces $481M in Amazon.com, Inc. ($AMZN)
Coatue Management sold 2 million Amazon shares, reducing its position by 20%.
Key Points
- Coatue Management cut its Amazon holdings by 2 million shares, a 20% reduction, now holding 7.93 million shares worth $1.89 billion.
- Amazon has a market cap of $2.57 trillion, a P/E ratio of 31.3, and a beta of 1.44, with shares trading near $238.53.
- Insiders like CEO Andrew Jassy made notable trades, and analysts from firms like Truist Securities maintained buy ratings with targets up to $350.
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Coatue Management has reduced its holdings in Amazon.com, Inc. (NasdaqGS: AMZN) by 2,001,499 shares, according to a Form 13F filing with the SEC. This move, reported on May 15, 2026, reflects a 20% decrease in its position, leaving Coatue with 7,930,766 shares valued at approximately $1.89 billion.
What Changed in Coatue Management's Amazon Position
Coatue Management's decision to cut its Amazon stake marks a significant shift in its investment strategy. Previously holding 9,932,265 shares, the firm now holds 7,930,766 shares, a reduction of 2,001,499 shares. This change represents a 20.15% decrease in their position, with the remaining shares valued at about $1.89 billion as of the filing date.
Other Institutional Activity in Amazon
Several other major investors also adjusted their Amazon holdings. BlackRock, Inc. increased its stake by 1,189,128 shares, reaching a total of 735,564,992 shares, valued at roughly $153.2 billion. Vanguard Capital Management LLC maintained its position with 631,176,205 shares, worth $131.5 billion. State Street Corp added 1,797,200 shares, bringing its total to 390,450,321 shares, valued at $81.3 billion. FMR LLC grew its holdings by 27,227,887 shares, now holding 358,698,691 shares valued at $74.7 billion. Geode Capital Management, LLC and Morgan Stanley also increased their positions significantly.
Amazon.com, Inc. Stock Down 9.7%
Shares of Amazon.com, Inc. traded near $238.53 as of the latest update. The company boasts a market capitalization of approximately $2.57 trillion, with a P/E ratio of 31.26 and a forward P/E of 24.19. Amazon's beta is 1.44, indicating its volatility relative to the market. The stock's 52-week range spans from $196.00 to $278.56, with a 50-day moving average of $254.21 and a 200-day moving average of $232.46.
Recent Earnings
Amazon reported revenue of $742.78 billion, with a growth rate of 16.6%. The company achieved a net margin of 12.22% and a return on equity of 24.29%. Earnings per share stood at $7.63. The next earnings report is expected on April 29, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
23 analysts raised price targets.
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EPS & revenue
EPS missed estimates by 3.6%. Revenue met estimates.
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Profit surprise
EBITDA beat by 31 percent. Operating income beat by 90 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
23 target raises.
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Earnings quality
Gross margin up 1.3 points. Operating margin up 1.3 points. Positive free cash flow.
Earnings Call Summary
Amazon had a strong first quarter with $181.5 billion in revenue and record 13.1 percent operating margin. Cloud computing services grew 28 percent year over year, the fastest pace in 15 quarters, driven by artificial intelligence demand. The company is investing tens of billions in data centers and chips, expecting these upfront costs to deliver strong returns in future years as customers pay for the capacity.
Guidance Amazon expects second quarter sales between $194 billion and $199 billion, up from first quarter's $181.5 billion. Operating income should reach $20 billion to $24 billion as the company invests heavily in artificial intelligence and new satellites for the Amazon LEO business.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Insider Buying and Selling at Amazon.com, Inc.
Recent insider activity at Amazon includes several notable transactions. On June 1, 2026, Douglas Herrington, CEO Worldwide Amazon Stores, sold 1,000 shares at an average price of $266.19 as part of a planned sale. Senior Vice President David Zapolsky sold 9,270 shares at $268.53 on May 22, 2026, also under a planned sale. On May 21, 2026, President and CEO Andrew Jassy sold 50,000 shares, and David Zapolsky and Vice President Shelley Reynolds each made trades without a specified price.
Analysts Set New Price Targets
Analysts remain bullish on Amazon, with several firms maintaining buy ratings. On May 29, 2026, Truist Securities reiterated its buy rating with a price target of $320. Wells Fargo, Stifel, and others have similarly maintained buy ratings, with targets ranging from $312 to $350. The consensus among 63 analysts is a strong buy, with an average price target of $312.51.
About Amazon.com, Inc.
Amazon.com, Inc. is a leading global online retailer based in Seattle, Washington. Founded in 1994, the company offers a wide range of consumer products, subscriptions, and digital content through its online and physical stores. It operates through three segments: North America, International, and Amazon Web Services (AWS). Under the leadership of CEO Andrew Jassy, Amazon also develops and sells electronic devices and provides cloud computing services.
Bottom Line
Coatue Management's substantial reduction in its Amazon holdings highlights the dynamic nature of institutional investing. While this filing reflects positions as of the reporting period, it is crucial for investors to consider that these filings are backward-looking. Amazon remains a significant player in the consumer cyclical sector, with strong institutional support and positive analyst outlooks.
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