Novem Group Acquires New Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Novem Group acquired a new stake in Amazon.com, Inc. (NASDAQ:AMZN) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 12,829 shares of the e-commerce giant’s stock, valued at approximately $2,815,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Amazon.com by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock worth $180,637,081,000 after buying an additional 17,635,391 shares in the last quarter. FMR LLC lifted its position in Amazon.com by 0.5% during the 4th quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant’s stock worth $72,061,766,000 after buying an additional 1,725,664 shares in the last quarter. Geode Capital Management LLC lifted its position in Amazon.com by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant’s stock worth $44,837,256,000 after buying an additional 5,015,380 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Amazon.com by 2.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 182,813,905 shares of the e-commerce giant’s stock worth $40,107,544,000 after buying an additional 4,087,933 shares in the last quarter. Finally, Norges Bank bought a new stake in Amazon.com during the 4th quarter worth about $27,266,582,000. 72.20% of the stock is owned by institutional investors.

Amazon.com Stock Performance

Shares of NASDAQ:AMZN opened at $206.65 on Tuesday. The company’s 50 day moving average price is $190.68 and its two-hundred day moving average price is $208.63. Amazon.com, Inc. has a 12-month low of $151.61 and a 12-month high of $242.52. The firm has a market cap of $2.19 trillion, a PE ratio of 37.37, a PEG ratio of 1.50 and a beta of 1.30. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.21. The firm had revenue of $155.67 billion for the quarter, compared to analyst estimates of $154.96 billion. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.98 EPS. Equities research analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AMZN. Truist Financial cut their price target on shares of Amazon.com from $265.00 to $230.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Evercore ISI dropped their target price on shares of Amazon.com from $270.00 to $260.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. JMP Securities reaffirmed a “market outperform” rating on shares of Amazon.com in a report on Tuesday, May 6th. Benchmark reaffirmed a “buy” rating and issued a $260.00 target price on shares of Amazon.com in a report on Friday, May 2nd. Finally, UBS Group reaffirmed a “buy” rating on shares of Amazon.com in a report on Tuesday, May 6th. Four equities research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.57.

Insider Buying and Selling

In related news, CEO Andrew R. Jassy sold 19,872 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total transaction of $4,000,233.60. Following the sale, the chief executive officer now owns 2,148,694 shares in the company, valued at approximately $432,532,102.20. This trade represents a 0.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Shelley Reynolds sold 2,695 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $200.79, for a total transaction of $541,129.05. Following the sale, the vice president now owns 119,780 shares in the company, valued at $24,050,626.20. This represents a 2.20% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 99,537 shares of company stock worth $20,018,625. Corporate insiders own 9.70% of the company’s stock.

Amazon.com Profile

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.