Spectrum Asset Management Inc. NB CA Boosts Position in Amazon.com, Inc. $AMZN

Spectrum Asset Management Inc. NB CA grew its position in Amazon.com, Inc. (NASDAQ:AMZN) by 145.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,989 shares of the e-commerce giant’s stock after buying an additional 2,366 shares during the quarter. Spectrum Asset Management Inc. NB CA’s holdings in Amazon.com were worth $831,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in AMZN. MilWealth Group LLC raised 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 worth $41,000 after acquiring an additional 79 shares during the last quarter. Lifetime Wealth Management P.C. acquired a new stake in shares of Amazon.com in the fourth quarter valued at approximately $45,000. Elkhorn Partners Limited Partnership grew its position in shares of Amazon.com by 900.0% in the fourth quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant’s stock valued at $46,000 after purchasing an additional 180 shares during the last quarter. Fairway Wealth LLC increased its stake 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 purchasing an additional 108 shares in the last quarter. Finally, Prudent Man Investment Management Inc. increased its stake 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 purchasing an additional 107 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. 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. 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 research report on Thursday, April 30th. BNP Paribas Exane boosted their price target on Amazon.com from $320.00 to $345.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Maxim Group upped their price objective on Amazon.com from $290.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $330.00 price objective (up from $280.00) on shares of Amazon.com in a research note on Thursday, April 30th. Fifty-seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $312.79.

Insider Transactions at Amazon.com

In other Amazon.com news, SVP David Zapolsky sold 9,270 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $268.53, for a total transaction 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 $11,060,750.70. This represents a 18.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 27,500 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $275.00, for a total value of $7,562,500.00. Following the completion of the transaction, the chief executive officer owned 471,361 shares in the company, valued at approximately $129,624,275. This trade represents a 5.51% 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. Over the last quarter, insiders sold 195,774 shares of company stock valued at $51,643,704. Corporate insiders own 8.90% of the company’s stock.

Amazon.com Stock Performance

Shares of AMZN stock opened at $242.67 on Monday. 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 has a market capitalization 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 one year low of $196.00 and a one year high of $278.56. The company has a 50 day moving average price of $254.57 and a 200 day moving average price of $234.65.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share 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 company had revenue of $181.52 billion for the quarter, compared to analyst estimates of $177.28 billion. During the same quarter last year, the business earned $1.59 EPS. Amazon.com’s revenue for the quarter was up 16.6% on a year-over-year basis. Sell-side analysts anticipate that Amazon.com, Inc. will post 7.75 EPS 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.