True North Advisors 13F: Cuts Amazon.com (AMZN) Stake by $731K

True North Advisors trimmed its position in Amazon.com, Inc. AMZN by 2,933 shares during the quarter, according to a Form 13F filing submitted to the Securities and Exchange Commission on October 22, 2026.

AMZN Amazon.com, Inc.

$250.38 ▲ +10.54% year to date

1M 3M YTD

Daily close · Oct 22, 2026

What Changed in True North Advisors's Amazon.com, Inc. Position

The firm cut its stake by 2.2% to finish the period with 129,617 shares. The remaining holdings carried a reported value of about $32.3 million based on market pricing.

Other Institutional Activity in Amazon.com, Inc.

Other major investment managers adjusted their positions in the retail giant ahead of the filing. Livforsakringsbolaget Skandia, Omsesidigt reduced its holdings by 16,000 shares, ending with 458,381 shares worth about $114.2 million. Sumitomo Mitsui DS Asset Management Company grew its position by 49,999 shares to hold 1,793,928 shares valued at roughly $447.0 million. Accurate Wealth Management added 4,384 shares for a total of 68,541 shares worth about $17.7 million. James Hambro & Partners lifted its stake by 10,118 shares, finishing with 785,685 shares valued at about $195.8 million. Meanwhile, Y-Intercept slashed its holdings by 195,242 shares, retaining 71,237 shares worth about $17.7 million.

Amazon.com, Inc. Stock Down 4.6%

Amazon shares closed at $250.38 on October 22, 2026, and recently traded around $250.49. The stock trades above its 200-day moving average of $243.21 while sitting below its 50-day moving average of $256.33.

Recent Earnings

Amazon generated trailing twelve-month revenue of $775.68 billion with earnings of $12.43 per share. The e-commerce and cloud computing provider posted a net profit margin of 17.4% and a return on equity of 30.6%. The company's next earnings report is scheduled for October 29, 2026.

Dividend

Amazon does not pay a dividend to shareholders, registering a dividend payout ratio of 0.0% and a dividend yield of 0.0%.

Insider Buying and Selling at Amazon.com, Inc.

Company insiders executed several transactions prior to the filing. Matthew S. Garman sold 14,541 shares on August 21, 2026, for a total value of about $3.8 million. David A. Zapolsky sold 15,430 shares on August 24, 2026, valued at roughly $4.0 million. Douglas J. Herrington sold 1,000 shares on September 1, 2026, at $254.77 per share for a total of $254,770, and sold another 1,000 shares on October 1, 2026, at $251.50 per share.

Analysts Set New Price Targets

Analyst firms updated their outlooks ahead of the filing. TD Cowen reiterated a buy rating with a $350.00 price target on October 5, 2026. Tigress Financial maintained a buy rating and raised its target to $385.00 from $315.00 on October 6, 2026. Wells Fargo maintained an overweight rating with a $329.00 target on October 12, 2026. Cantor Fitzgerald maintained an overweight rating with a $310.00 target on October 12, 2026. Morgan Stanley maintained an overweight rating and raised its target to $350.00 from $335.00 on October 19, 2026. The stock holds a consensus strong buy rating across 58 analyst opinions.

About Amazon.com, Inc.

Amazon.com, Inc. operates retail websites, cloud services through Amazon Web Services, digital advertising networks, and physical stores. The company also produces consumer electronics like Kindle and Echo devices alongside streaming media content.

Bottom Line

Investors will watch the upcoming earnings release on October 29, 2026, for further insight into retail and cloud performance. Institutional filing updates continue to offer a window into how major managers position their portfolios.