Elite Wealth Management Inc. Lowers Stake in Amazon.com, Inc. $AMZN

Elite Wealth Management Inc. lessened its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 37.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 83,602 shares of the e-commerce giant’s stock after selling 50,821 shares during the period. Amazon.com comprises approximately 5.3% of Elite Wealth Management Inc.’s holdings, making the stock its 4th biggest position. Elite Wealth Management Inc.’s holdings in Amazon.com were worth $19,297,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Lifelong Wealth Advisors Inc. lifted its stake in shares of 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 worth $376,000 after purchasing an additional 42 shares during the period. Marquette Asset Management LLC lifted its stake in shares of Amazon.com by 5.1% in the 4th quarter. Marquette Asset Management LLC now owns 886 shares of the e-commerce giant’s stock worth $205,000 after purchasing an additional 43 shares during the period. Western Financial Corp CA lifted its stake in shares of Amazon.com by 1.5% in the 4th quarter. Western Financial Corp CA now owns 3,076 shares of the e-commerce giant’s stock worth $710,000 after purchasing an additional 44 shares during the period. Finally, Cadence Wealth Management LLC lifted its stake in shares of Amazon.com by 3.5% in the 3rd quarter. Cadence Wealth Management LLC now owns 1,328 shares of the e-commerce giant’s stock worth $292,000 after purchasing an additional 45 shares during the period. Institutional investors own 72.20% of the company’s stock.

Insider Activity at Amazon.com

In other news, 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 value of $4,074,007.80. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew R. Jassy sold 31,352 shares of the business’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 $8,621,800.00. Following the completion of the transaction, 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 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 a total of 195,774 shares of company stock worth $51,552,494 over the last ninety days. 8.90% of the stock is owned by corporate insiders.

More Amazon.com News

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

• Positive Sentiment: Investor sentiment remains constructive after multiple articles highlighted Amazon’s strong AI and AWS growth potential, margin expansion case, and bullish analyst views, including recent buy/overweight ratings and price targets well above current levels. Article Title
• Positive Sentiment: Amazon’s latest quarterly revenue of $181.5 billion, up 16.6% year over year, reinforces the view that the business is still expanding at a healthy pace. Article Title
• Positive Sentiment: The stock is also being included in broader market “buy zone” and AI-leader discussions, suggesting traders still see Amazon as a favored large-cap growth name. Article Title

Amazon.com Stock Down 0.4%

NASDAQ AMZN opened at $265.29 on Wednesday. Amazon.com, Inc. has a 12 month low of $196.00 and a 12 month 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 market cap of $2.85 trillion, a PE ratio of 31.73, a P/E/G ratio of 1.99 and a beta of 1.46. The stock’s 50 day moving average is $241.79 and its 200 day moving average is $231.93.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $1.15. The business had revenue of $181.52 billion during the quarter, compared to analyst estimates of $177.28 billion. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The company’s revenue was up 16.6% on a year-over-year basis. During the same period last year, the firm posted $1.59 EPS. Research analysts predict that Amazon.com, Inc. will post 7.71 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on AMZN. Scotiabank reiterated an “outperform” rating and issued a $325.00 price objective (up from $275.00) on shares of Amazon.com in a research note on Thursday, April 30th. TD Securities raised Amazon.com to a “buy” rating in a research report on Monday, April 13th. Barclays reissued an “overweight” rating and issued a $330.00 target price (up from $300.00) on shares of Amazon.com in a report on Thursday, April 30th. Robert W. Baird raised their target price on shares of Amazon.com from $285.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings raised shares of Amazon.com from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Fifty-seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Amazon.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $312.66.

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.