CORDA Investment Management LLC. Buys 5,856 Shares of Amazon.com, Inc. $AMZN

CORDA Investment Management LLC. lifted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 219,106 shares of the e-commerce giant’s stock after acquiring an additional 5,856 shares during the period. Amazon.com makes up 3.2% of CORDA Investment Management LLC.’s investment portfolio, making the stock its 12th biggest position. CORDA Investment Management LLC.’s holdings in Amazon.com were worth $45,633,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Red Crane Wealth Management LLC raised its holdings in shares of Amazon.com by 2.3% during the 1st quarter. Red Crane Wealth Management LLC now owns 1,663 shares of the e-commerce giant’s stock valued at $346,000 after buying an additional 38 shares in the last quarter. Robinson Smith Wealth Advisors LLC boosted its stake in Amazon.com by 0.7% in the first quarter. Robinson Smith Wealth Advisors LLC now owns 5,509 shares of the e-commerce giant’s stock worth $1,147,000 after buying an additional 40 shares in the last quarter. Lifelong Wealth Advisors Inc. raised its position in 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 purchasing an additional 41 shares during the period. Financial Connections Group Inc. lifted its stake in shares of Amazon.com by 2.6% in the 4th 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. Finally, Marquette Asset Management LLC raised its holdings in Amazon.com by 5.1% during the 4th quarter. Marquette Asset Management LLC now owns 886 shares of the e-commerce giant’s stock valued at $205,000 after buying an additional 43 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on AMZN shares. Monness Crespi & Hardt upped their price objective on shares of Amazon.com from $280.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Robert W. Baird increased their price objective on Amazon.com from $285.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Wolfe Research reissued an “outperform” rating and set a $320.00 price objective (up from $245.00) on shares of Amazon.com in a research report on Thursday, April 30th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $335.00 target price on shares of Amazon.com in a research report on Thursday, July 9th. Finally, Guggenheim reissued 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 equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Amazon.com currently has an average rating of “Moderate Buy” and a consensus price target of $312.91.

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

Insider Buying and Selling

In other news, Director Jonathan Rubinstein sold 3,706 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $273.02, for a total value of $1,011,812.12. Following the completion of the transaction, the director owned 74,948 shares in the company, valued at $20,462,302.96. The trade was a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew R. Jassy sold 31,352 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $275.00, for a total value of $8,621,800.00. Following the sale, the chief executive officer directly owned 2,175,766 shares in the company, valued at $598,335,650. This trade represents a 1.42% 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 140,425 shares of company stock worth $37,715,464 over the last 90 days. 8.90% of the stock is currently owned by company insiders.

Amazon.com Stock Performance

Shares of AMZN stock opened at $232.11 on Friday. The company has a market capitalization of $2.50 trillion, a price-to-earnings ratio of 27.76, a price-to-earnings-growth ratio of 1.74 and a beta of 1.46. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.18. Amazon.com, Inc. has a one year low of $196.00 and a one year high of $278.56. The company’s 50-day moving average is $248.26 and its 200 day moving average is $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 (EPS) for the quarter, topping the consensus estimate of $1.63 by $1.15. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The business had revenue of $181.52 billion during the quarter, compared to analysts’ expectations of $177.28 billion. During the same period in the previous year, the company earned $1.59 earnings per share. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. Sell-side analysts expect that Amazon.com, Inc. will post 7.75 EPS for the current fiscal year.

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.