Amazon.com, Inc. $AMZN Shares Purchased by Bleakley Financial Group LLC

Bleakley Financial Group LLC raised its position in Amazon.com, Inc. (NASDAQ:AMZN) by 5.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 383,493 shares of the e-commerce giant’s stock after purchasing an additional 20,978 shares during the period. Amazon.com accounts for 1.2% of Bleakley Financial Group LLC’s investment portfolio, making the stock its 15th largest holding. Bleakley Financial Group LLC’s holdings in Amazon.com were worth $79,870,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Norges Bank acquired a new stake in Amazon.com during the 4th quarter worth $32,868,735,000. Auto Owners Insurance Co raised its stake in shares of Amazon.com by 27,376.7% during the fourth quarter. Auto Owners Insurance Co now owns 98,448,885 shares of the e-commerce giant’s stock worth $2,272,397,000 after purchasing an additional 98,090,585 shares during the last quarter. J. Stern & Co. LLP increased its stake in shares of Amazon.com by 20,598.0% during the fourth quarter. J. Stern & Co. LLP now owns 87,982,814 shares of the e-commerce giant’s stock worth $20,308,193,000 after acquiring an additional 87,557,736 shares during the period. Nuveen LLC purchased a new position in shares of Amazon.com during the 1st quarter worth approximately $11,674,091,000. Finally, Cardano Risk Management B.V. lifted its holdings in 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 valued at $6,431,199,000 after acquiring an additional 25,017,588 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Price Performance

NASDAQ AMZN opened at $232.11 on Monday. The company has a market cap of $2.50 trillion, a PE ratio of 27.76, a PEG ratio of 1.74 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’s 50-day moving average price is $248.26 and its two-hundred day moving average price is $236.34.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $1.15. The business had revenue of $181.52 billion for the quarter, compared to the consensus estimate of $177.28 billion. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. Amazon.com’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.59 earnings per share. On average, analysts predict that Amazon.com, Inc. will post 7.75 EPS for the current year.

Analyst Upgrades and Downgrades

AMZN has been the subject of a number of research reports. Wedbush reiterated an “outperform” rating and set a $293.00 price target on shares of Amazon.com in a research report on Thursday. Bank of America lifted their price objective on Amazon.com from $298.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. KeyCorp set a $335.00 target price on Amazon.com and gave the company an “overweight” rating in a report on Thursday, July 16th. BNP Paribas Exane increased their price objective on shares of Amazon.com from $320.00 to $345.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Finally, Arete Research boosted their price objective on shares of Amazon.com from $301.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Fifty-seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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

Insiders Place Their Bets

In related news, SVP David Zapolsky sold 9,270 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $268.53, for a total value of $2,489,273.10. Following the completion of the sale, the senior vice president owned 41,190 shares in the company, valued at approximately $11,060,750.70. This trade represents a 18.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew S. Garman sold 15,467 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $263.40, for a total transaction of $4,074,007.80. Following the completion of the sale, the chief executive officer directly owned 14,159 shares in the company, valued at $3,729,480.60. This trade represents a 52.21% decrease in their position. 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 valued at $37,715,464 in the last three months. Company insiders own 8.90% of the company’s stock.

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.