Amazon.com, Inc. $AMZN is Associated Banc Corp’s 6th Largest Position

Associated Banc Corp raised its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 0.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 585,583 shares of the e-commerce giant’s stock after purchasing an additional 4,256 shares during the quarter. Amazon.com comprises approximately 3.2% of Associated Banc Corp’s holdings, making the stock its 6th biggest holding. Associated Banc Corp’s holdings in Amazon.com were worth $121,959,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Narwhal Capital Management boosted its stake in Amazon.com by 2.3% during the 4th quarter. Narwhal Capital Management now owns 216,606 shares of the e-commerce giant’s stock valued at $49,997,000 after purchasing an additional 4,854 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Amazon.com by 21.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 24,653,228 shares of the e-commerce giant’s stock valued at $5,690,463,000 after buying an additional 4,275,942 shares during the period. Weaver Capital Management LLC boosted its stake in Amazon.com by 13.6% during the fourth quarter. Weaver Capital Management LLC now owns 39,264 shares of the e-commerce giant’s stock valued at $9,063,000 after buying an additional 4,713 shares in the last quarter. Ethos Financial Group LLC raised its position in Amazon.com by 9.6% in the fourth quarter. Ethos Financial Group LLC now owns 36,485 shares of the e-commerce giant’s stock worth $8,421,000 after acquiring an additional 3,196 shares in the last quarter. Finally, Culbertson A N & Co. Inc. boosted its position in shares of Amazon.com by 8.6% during the 4th quarter. Culbertson A N & Co. Inc. now owns 30,444 shares of the e-commerce giant’s stock valued at $7,027,000 after purchasing an additional 2,412 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com News Summary

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

• Positive Sentiment: Options data and several analyst/commentary pieces suggest traders expect a post-earnings move higher, and multiple firms remain bullish on AMZN heading into the July 30 report. Ahead of Amazon Earnings, Here’s What Barchart Data Says Comes Next for AMZN Stock
• Positive Sentiment: India eased e-commerce export rules, which is a win for Amazon’s international marketplace ambitions and could support long-term growth. India relaxes e-commerce investment rules for exports in win for Amazon
• Positive Sentiment: Several bullish research notes continue to frame AWS, custom silicon, and Amazon’s AI buildout as long-term growth drivers, with some investors arguing the capex surge should ultimately strengthen Amazon’s competitive moat. Amazon: Why The CapEx Surge Makes Me More Bullish, Not Less

Insider Transactions at Amazon.com

In related news, CEO Matthew S. Garman sold 15,467 shares of Amazon.com stock in a transaction on 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 completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jonathan Rubinstein sold 3,706 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $273.02, for a total transaction of $1,011,812.12. Following the completion of the sale, the director owned 74,948 shares of the company’s stock, valued at $20,462,302.96. This represents a 4.71% 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 have sold a total of 140,425 shares of company stock valued at $37,715,464 in the last ninety days. 8.90% of the stock is currently owned by insiders.

Amazon.com Price Performance

AMZN opened at $232.11 on Friday. The stock has a market cap of $2.50 trillion, a price-to-earnings ratio of 27.76, a PEG ratio of 1.75 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. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. The stock has a fifty day moving average price of $248.26 and a 200 day moving average price of $236.32.

Amazon.com (NASDAQ:AMZN) last issued its earnings results 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. The company had revenue of $181.52 billion for the quarter, compared to analyst estimates of $177.28 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The business’s revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.59 EPS. Analysts forecast that Amazon.com, Inc. will post 7.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AMZN. Oppenheimer increased their target price on shares of Amazon.com from $275.00 to $320.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. William Blair restated an “outperform” rating on shares of Amazon.com in a report on Thursday, April 9th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Amazon.com in a report on Friday, June 26th. New Street Research lifted their price target on Amazon.com from $280.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Finally, Pivotal Research reaffirmed 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. Fifty-seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $312.91.

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.