Diamant Asset Management Inc. Purchases 209,650 Shares of Amazon.com, Inc. $AMZN

Diamant Asset Management Inc. increased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 23,013.2% during the first quarter, Holdings Channel.com reports. The institutional investor owned 210,561 shares of the e-commerce giant’s stock after purchasing an additional 209,650 shares during the period. Diamant Asset Management Inc.’s holdings in Amazon.com were worth $4,385,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MilWealth Group LLC raised its stake in Amazon.com by 79.0% in 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. bought a new position in shares of Amazon.com during the 4th quarter worth approximately $45,000. Elkhorn Partners Limited Partnership boosted its stake in shares of Amazon.com by 900.0% during the 4th quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant’s stock worth $46,000 after acquiring an additional 180 shares during the period. Fairway Wealth LLC increased its holdings in shares of Amazon.com by 95.6% during the 4th quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant’s stock worth $51,000 after acquiring an additional 108 shares during the last quarter. Finally, Prudent Man Investment Management Inc. increased its holdings in shares of Amazon.com by 87.7% during the 4th quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant’s stock worth $53,000 after acquiring an additional 107 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, SVP David Zapolsky sold 9,270 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $268.53, for a total value of $2,489,273.10. Following the completion of the sale, the senior vice president directly owned 41,190 shares in the company, valued at approximately $11,060,750.70. The trade was a 18.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew R. Jassy sold 20,000 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $263.42, for a total value of $5,268,400.00. Following the sale, the chief executive officer directly owned 2,205,766 shares in the company, valued at $581,042,879.72. This represents a 0.90% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 195,774 shares of company stock valued at $51,643,704 in the last quarter. Company insiders own 8.90% of the company’s stock.

Amazon.com News Roundup

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

NASDAQ:AMZN opened at $242.67 on Monday. Amazon.com, Inc. has a 52 week low of $196.00 and a 52 week high of $278.56. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.18. The firm’s 50-day simple moving average is $254.57 and its 200 day simple moving average is $234.65. The firm has a market cap of $2.61 trillion, a price-to-earnings ratio of 29.03, a P/E/G ratio of 1.81 and a beta of 1.46.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AMZN shares. Telsey Advisory Group increased their price target on Amazon.com from $300.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. China Renaissance upped their price objective on shares of Amazon.com from $300.00 to $326.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Benchmark increased their price objective on shares of Amazon.com from $275.00 to $370.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Oppenheimer raised their target price on shares of Amazon.com from $275.00 to $320.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Finally, Monness Crespi & Hardt lifted their target price on shares of Amazon.com from $280.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Fifty-seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Amazon.com has a consensus rating of “Moderate Buy” and an average price target of $312.79.

About Amazon.com

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.