Anchor Investment Management LLC Has $15.39 Million Position in Amazon.com, Inc. $AMZN

Anchor Investment Management LLC raised its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 3.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 73,881 shares of the e-commerce giant’s stock after acquiring an additional 2,160 shares during the period. Amazon.com comprises about 1.3% of Anchor Investment Management LLC’s investment portfolio, making the stock its 16th largest position. Anchor Investment Management LLC’s holdings in Amazon.com were worth $15,387,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. MilWealth Group LLC raised its holdings in Amazon.com by 79.0% during the 4th quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant’s stock worth $41,000 after purchasing an additional 79 shares during the last quarter. Lifetime Wealth Management P.C. acquired a new position in Amazon.com in the fourth quarter valued at $45,000. Elkhorn Partners Limited Partnership boosted its position in Amazon.com by 900.0% during the fourth quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant’s stock valued at $46,000 after acquiring an additional 180 shares during the last quarter. Fairway Wealth LLC grew its holdings in 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 period. Finally, Prudent Man Investment Management Inc. grew its holdings in 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 period. 72.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Amazon.com news, CEO Matthew S. Garman sold 15,467 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 14,159 shares in the company, valued at $3,729,480.60. This represents a 52.21% decrease in their position. The transaction was disclosed in a document filed 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 company’s stock in a transaction on Monday, May 4th. The stock was 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 in the company, valued at approximately $129,624,275. The trade was a 5.51% 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 140,425 shares of company stock valued at $37,715,464 in the last three months. Insiders own 8.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AMZN shares. Roth Capital raised their price target on shares of Amazon.com from $285.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. HSBC raised their price objective on Amazon.com from $280.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Mizuho upped their target price on Amazon.com from $315.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Cantor Fitzgerald restated an “overweight” rating and set a $330.00 price target (up from $280.00) on shares of Amazon.com in a research note on Thursday, April 30th. Finally, Evercore lifted their price objective on shares of Amazon.com from $285.00 to $315.00 and gave the company an “outperform” 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $312.91.

Amazon.com Trading Down 0.7%

Shares of Amazon.com stock opened at $232.11 on Friday. The stock has a market capitalization of $2.50 trillion, a P/E ratio of 27.76, a P/E/G ratio of 1.75 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 company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.18. The stock’s 50-day simple moving average is $248.26 and its 200 day simple moving average is $236.32.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 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 company had revenue of $181.52 billion for the quarter, compared to analysts’ expectations of $177.28 billion. During the same period in the prior year, the company posted $1.59 EPS. Amazon.com’s revenue was up 16.6% compared to the same quarter last year. As a group, research analysts anticipate that Amazon.com, Inc. will post 7.75 EPS for the current year.

Key Headlines Impacting Amazon.com

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

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.