Amazon.com, Inc. $AMZN Holdings Lifted by Econ Financial Services Corp

Econ Financial Services Corp lifted its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 753.7% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 32,295 shares of the e-commerce giant’s stock after acquiring an additional 28,512 shares during the quarter. Amazon.com accounts for about 3.1% of Econ Financial Services Corp’s holdings, making the stock its 5th biggest holding. Econ Financial Services Corp’s holdings in Amazon.com were worth $6,726,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. MilWealth Group LLC boosted its position in Amazon.com by 79.0% during the fourth quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant’s stock valued at $41,000 after buying an additional 79 shares during the period. Lifetime Wealth Management P.C. purchased a new position in shares of Amazon.com in the fourth quarter worth about $45,000. Elkhorn Partners Limited Partnership lifted its stake in shares of Amazon.com by 900.0% in the 4th quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant’s stock valued at $46,000 after acquiring an additional 180 shares during the last quarter. Fairway Wealth LLC lifted its stake in shares of Amazon.com by 95.6% in the 4th quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant’s stock valued at $51,000 after acquiring an additional 108 shares during the last quarter. Finally, Prudent Man Investment Management Inc. lifted its stake in shares of Amazon.com by 87.7% in the 4th quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant’s stock valued at $53,000 after acquiring an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Buying and Selling at Amazon.com

In related news, CEO Matthew S. Garman sold 15,467 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $263.40, for a total value of $4,074,007.80. Following the sale, the chief executive officer owned 14,159 shares in the company, valued at $3,729,480.60. This represents a 52.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew R. Jassy sold 31,352 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $275.00, for a total value of $8,621,800.00. Following the transaction, the chief executive officer directly owned 2,175,766 shares of the company’s stock, valued at approximately $598,335,650. This trade represents a 1.42% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 195,774 shares of company stock worth $51,643,704 over the last three months. Company insiders own 8.90% of the company’s stock.

Wall Street Analyst Weigh In

AMZN has been the topic of several recent research reports. Canaccord Genuity Group raised their price target on Amazon.com from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Tigress Financial boosted their price objective on Amazon.com from $305.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday, March 25th. Evercore boosted their price objective on Amazon.com from $285.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Guggenheim reissued a “buy” rating and set a $320.00 price objective (up from $300.00) on shares of Amazon.com in a research note on Thursday, April 30th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and issued a $315.00 target price on shares of Amazon.com in a research note on Friday, April 10th. Fifty-seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $312.79.

Key Headlines Impacting Amazon.com

Here are the key news stories impacting Amazon.com this week:

• Positive Sentiment: Amazon said its Leo satellite network has enough satellites to begin initial broadband service this year, opening a new growth opportunity in satellite internet. Reuters: Amazon to start initial Leo internet service this year as network nears 400 satellites
• Positive Sentiment: Amazon is expanding its AI strategy with custom device chips and broader AWS AI capabilities, which could support future margins and growth. CNBC: Amazon is designing its own AI chips for Echo, Fire TV and future devices
• Positive Sentiment: Prime Day-related reports pointed to strong online shopping demand, reinforcing confidence in Amazon’s retail momentum heading into earnings. Yahoo Finance/Reuters: Online Spending Rises 5.3% on First Day of Amazon’s Prime Day

Amazon.com Price Performance

Shares of Amazon.com stock opened at $242.67 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.01. The company has a 50-day moving average of $254.57 and a 200 day moving average of $234.57. The firm has a market cap of $2.61 trillion, a price-to-earnings ratio of 29.03, a PEG ratio of 1.81 and a beta of 1.46. Amazon.com, Inc. has a 1 year low of $196.00 and a 1 year high of $278.56.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 EPS for the quarter, topping the consensus estimate of $1.63 by $1.15. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The business had revenue of $181.52 billion for the quarter, compared to analyst estimates of $177.28 billion. During the same quarter in the previous year, the firm posted $1.59 earnings per share. Amazon.com’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Amazon.com, Inc. will post 7.75 earnings per share for the current fiscal year.

Amazon.com Profile

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.