Janney Montgomery Scott LLC Has $572.74 Million Stock Position in Amazon.com, Inc. $AMZN

Janney Montgomery Scott LLC lifted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,749,966 shares of the e-commerce giant’s stock after purchasing an additional 83,902 shares during the quarter. Amazon.com accounts for 1.4% of Janney Montgomery Scott LLC’s investment portfolio, making the stock its 6th largest holding. Janney Montgomery Scott LLC’s holdings in Amazon.com were worth $572,736,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Amazon.com in the 4th quarter worth about $32,868,735,000. Auto Owners Insurance Co boosted its stake in Amazon.com by 27,376.7% during the 4th quarter. Auto Owners Insurance Co now owns 98,448,885 shares of the e-commerce giant’s stock valued at $2,272,397,000 after purchasing an additional 98,090,585 shares during the last quarter. J. Stern & Co. LLP increased its holdings in Amazon.com by 20,598.0% during the 4th quarter. J. Stern & Co. LLP now owns 87,982,814 shares of the e-commerce giant’s stock worth $20,308,193,000 after purchasing an additional 87,557,736 shares in the last quarter. Nuveen LLC bought a new stake in Amazon.com during the 1st quarter worth approximately $11,674,091,000. Finally, Cardano Risk Management B.V. raised its stake in shares of Amazon.com by 879.4% in the fourth quarter. Cardano Risk Management B.V. now owns 27,862,400 shares of the e-commerce giant’s stock worth $6,431,199,000 after purchasing an additional 25,017,588 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

Key Amazon.com News

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

Insider Activity at Amazon.com

In other Amazon.com news, CEO Matthew S. Garman sold 15,467 shares of Amazon.com stock in a transaction dated Thursday, May 21st. The shares were 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 of the company’s stock, valued at approximately $3,729,480.60. The trade was a 52.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP David Zapolsky sold 9,270 shares of the stock in a transaction that occurred 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 transaction, the senior vice president directly owned 41,190 shares of the company’s stock, valued at $11,060,750.70. This represents a 18.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 over the last quarter. Corporate insiders own 8.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AMZN. BMO Capital Markets raised their target price on Amazon.com from $310.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. KeyCorp upped their price target on Amazon.com from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Monness Crespi & Hardt increased their price target on Amazon.com from $280.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Tigress Financial raised their price objective on Amazon.com from $305.00 to $315.00 and gave the company a “buy” rating in a research note on Wednesday, March 25th. Finally, Needham & Company LLC lifted their price objective on shares of Amazon.com from $265.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Fifty-seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Amazon.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $312.79.

Amazon.com Stock Performance

Shares of AMZN opened at $242.67 on Monday. The stock has a 50 day moving average of $254.57 and a 200 day moving average of $234.65. The company has a market capitalization 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 12 month low of $196.00 and a 12 month high of $278.56. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27.

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