CrossGen Wealth LLC Purchases New Position in Amazon.com, Inc. $AMZN

CrossGen Wealth LLC purchased a new stake in Amazon.com, Inc. (NASDAQ:AMZN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 16,760 shares of the e-commerce giant’s stock, valued at approximately $3,869,000. Amazon.com accounts for about 3.4% of CrossGen Wealth LLC’s portfolio, making the stock its 8th biggest position.

Several other hedge funds have also recently bought and sold shares of AMZN. MilWealth Group LLC boosted its stake in Amazon.com by 79.0% in the 4th quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant’s stock valued at $41,000 after purchasing an additional 79 shares during the period. Elkhorn Partners Limited Partnership grew its holdings in Amazon.com by 900.0% in the 4th quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant’s stock valued at $46,000 after buying an additional 180 shares in the last quarter. Fairway Wealth LLC increased its position 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 buying an additional 108 shares during the period. Prudent Man Investment Management Inc. increased its position 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 buying an additional 107 shares during the period. Finally, Bridge Generations Wealth Management LLC lifted its holdings in shares of Amazon.com by 2,330.0% during the third quarter. Bridge Generations Wealth Management LLC now owns 243 shares of the e-commerce giant’s stock worth $53,000 after buying an additional 233 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Amazon.com

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

• Positive Sentiment: Amazon is exploring selling Trainium AI chips to external data-center customers, which could open a new revenue stream and strengthen its position in AI infrastructure. Amazon CEO Jassy says company could sell AI chips, raising stakes for Nvidia, AMD
• Positive Sentiment: Amazon’s planned $10 billion Missouri data center buildout underscores rising AI infrastructure demand and suggests stronger AWS growth ahead. Should Amazon’s US$10 Billion Missouri AI Bet and Trainium Chip Sales Shift AMZN’s Cloud Narrative?
• Positive Sentiment: Bank of America reiterated a Buy rating and a $310 price target, framing Alexa+ and Prime Day as potential catalysts for adoption and sales growth. Amazon’s Alexa AI Could Be The Real Prime Day Winner: Analyst
• Positive Sentiment: Prime Day is expected to generate nearly $22 billion in gross merchandise value, offering a near-term retail lift and a showcase for Amazon’s AI shopping tools. Amazon Prime Day expected to generate nearly $22B in sales
• Positive Sentiment: Alexa+ is expanding internationally, including full rollout in Canada and availability in Brazil, which supports Amazon’s consumer AI monetization story. Here’s Why Amazon.com, Inc. (AMZN) is a Top Growth Stock to Buy According to Ray Dalio’s Bridgewater
• Positive Sentiment: Amazon’s AWS unit won new business as Zelis selected AWS to automate healthcare pricing and payments, showing continued enterprise cloud momentum. Zelis Picks AWS to Automate Healthcare Pricing and Payments

Analysts Set New Price Targets

Several research firms recently commented on AMZN. DA Davidson upped their price target on shares of Amazon.com from $175.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Mizuho lifted their price target on shares of Amazon.com from $315.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Telsey Advisory Group boosted their price target on Amazon.com from $300.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. William Blair reissued an “outperform” rating on shares of Amazon.com in a research report on Thursday, April 9th. Finally, Citigroup restated a “market outperform” rating on shares of Amazon.com in a research note on Monday, June 1st. Fifty-seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $312.78.

Insiders Place Their Bets

In other Amazon.com news, CEO Andrew R. Jassy sold 31,352 shares of Amazon.com stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $275.00, for a total value of $8,621,800.00. Following the transaction, the chief executive officer owned 2,175,766 shares in the company, valued at $598,335,650. The trade was a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 27,500 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $275.00, for a total value of $7,562,500.00. Following the transaction, the chief executive officer directly owned 471,361 shares of the company’s stock, 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 a total of 195,774 shares of company stock worth $51,614,434 over the last 90 days. Corporate insiders own 8.90% of the company’s stock.

Amazon.com Stock Performance

Shares of NASDAQ:AMZN opened at $244.39 on Friday. The company’s 50 day simple moving average is $256.04 and its 200 day simple moving average is $234.05. The stock has a market capitalization of $2.63 trillion, a price-to-earnings ratio of 29.23, a price-to-earnings-growth ratio of 1.78 and a beta of 1.44. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.01. Amazon.com, Inc. has a 1 year low of $196.00 and a 1 year high of $278.56.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 EPS for the quarter, beating the consensus estimate of $1.63 by $1.15. The business had revenue of $181.52 billion during 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%. The company’s revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.59 earnings per share. As a group, research analysts predict that Amazon.com, Inc. will post 7.71 EPS for the current fiscal year.

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.