Foundry Financial LLC Buys 2,343 Shares of Amazon.com, Inc. $AMZN

Foundry Financial LLC increased its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 87.3% in the first quarter, HoldingsChannel reports. The firm owned 5,028 shares of the e-commerce giant’s stock after buying an additional 2,343 shares during the period. Foundry Financial LLC’s holdings in Amazon.com were worth $1,047,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in AMZN. Lifelong Wealth Advisors Inc. grew its position in shares of Amazon.com by 2.4% in the 4th quarter. Lifelong Wealth Advisors Inc. now owns 1,740 shares of the e-commerce giant’s stock worth $402,000 after buying an additional 41 shares during the last quarter. Financial Connections Group Inc. lifted its position in Amazon.com by 2.6% during the fourth quarter. Financial Connections Group Inc. now owns 1,633 shares of the e-commerce giant’s stock valued at $376,000 after acquiring an additional 42 shares during the last quarter. Marquette Asset Management LLC lifted its position in Amazon.com by 5.1% during the fourth quarter. Marquette Asset Management LLC now owns 886 shares of the e-commerce giant’s stock valued at $205,000 after acquiring an additional 43 shares during the last quarter. Western Financial Corp CA boosted its stake in Amazon.com by 1.5% in the fourth quarter. Western Financial Corp CA now owns 3,076 shares of the e-commerce giant’s stock valued at $710,000 after acquiring an additional 44 shares in the last quarter. Finally, Navalign LLC grew its holdings in Amazon.com by 0.3% in the fourth quarter. Navalign LLC now owns 13,349 shares of the e-commerce giant’s stock worth $3,081,000 after purchasing an additional 44 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Insider Activity

In other news, CEO Douglas J. Herrington sold 27,500 shares of Amazon.com stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $275.00, for a total transaction of $7,562,500.00. Following the completion of the transaction, the chief executive officer directly owned 471,361 shares of the company’s stock, valued at $129,624,275. The trade was a 5.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP David Zapolsky sold 9,270 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $268.53, for a total transaction of $2,489,273.10. Following the completion of the transaction, the senior vice president owned 41,190 shares of the company’s stock, valued at approximately $11,060,750.70. This represents a 18.37% decrease in their ownership of the stock. 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 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 Price Performance

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

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results 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 return on equity of 19.92% and a net margin of 12.22%.The company had revenue of $181.52 billion during the quarter, compared to the consensus estimate of $177.28 billion. During the same period in the previous year, the company posted $1.59 earnings per share. Amazon.com’s revenue for the quarter 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 year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AMZN. KeyCorp upped their price target on Amazon.com from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. TD Cowen restated a “buy” rating and set a $350.00 target price on shares of Amazon.com in a research note on Tuesday, May 12th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Amazon.com in a research report on Thursday, June 18th. Benchmark increased their price target on Amazon.com from $275.00 to $370.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Finally, Robert W. Baird raised their price target on Amazon.com from $285.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Fifty-seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and a consensus price target of $312.79.

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 Company 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.