Rep. Morgan McGarvey Sells Off Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Representative Morgan McGarvey (D-Kentucky) recently sold shares of Amazon.com, Inc. (NASDAQ:AMZN). In a filing disclosed on December 10th, the Representative disclosed that they had sold between $1,001 and $15,000 in Amazon.com stock on November 13th. The trade occurred in the Representative’s “CHRIS IRA” account.

Representative Morgan McGarvey also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 11/13/2024.
• Sold $1,001 – $15,000 in shares of Shell (NYSE:SHEL) on 11/13/2024.
• Sold $1,001 – $15,000 in shares of Interactive Brokers Group (NASDAQ:IBKR) on 11/13/2024.
• Sold $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 11/13/2024.
• Sold $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 11/13/2024.
• Sold $1,001 – $15,000 in shares of Charles Schwab (NYSE:SCHW) on 11/13/2024.
• Sold $15,001 – $50,000 in shares of NVIDIA (NASDAQ:NVDA) on 11/13/2024.
• Sold $1,001 – $15,000 in shares of Trump Media & Technology Group (NASDAQ:DJT) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Trump Media & Technology Group (NASDAQ:DJT) on 11/6/2024.
• Purchased $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 10/25/2024.

Amazon.com Stock Performance

NASDAQ AMZN opened at $230.26 on Thursday. The firm has a market cap of $2.42 trillion, a P/E ratio of 49.31, a price-to-earnings-growth ratio of 1.52 and a beta of 1.16. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The company’s 50 day moving average is $198.98 and its 200-day moving average is $188.78. Amazon.com, Inc. has a 12-month low of $144.05 and a 12-month high of $231.20.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The company had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 EPS. Sell-side analysts predict that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Wall Street Analyst Weigh In

AMZN has been the subject of several analyst reports. Telsey Advisory Group raised their price target on shares of Amazon.com from $215.00 to $235.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Monness Crespi & Hardt lifted their price objective on Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, November 1st. TD Cowen raised their price target on Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 1st. Oppenheimer lifted their price target on Amazon.com from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Susquehanna upped their price objective on shares of Amazon.com from $220.00 to $230.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Amazon.com presently has a consensus rating of “Moderate Buy” and an average target price of $237.42.

Institutional Trading of Amazon.com

Several large investors have recently bought and sold shares of AMZN. PayPay Securities Corp grew its stake in shares of Amazon.com by 64.6% in the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after acquiring an additional 64 shares during the last quarter. Hoese & Co LLP bought a new position in Amazon.com in the 3rd quarter worth about $37,000. Bull Oak Capital LLC purchased a new stake in Amazon.com during the 3rd quarter valued at about $45,000. Christopher J. Hasenberg Inc increased its stake in Amazon.com by 650.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after purchasing an additional 260 shares in the last quarter. Finally, Values First Advisors Inc. purchased a new position in Amazon.com in the third quarter worth about $56,000. 72.20% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Jonathan Rubinstein sold 4,351 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the transaction, the director now owns 88,203 shares in the company, valued at $20,273,459.55. This represents a 4.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew S. Garman sold 15,260 shares of Amazon.com stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $200.19, for a total transaction of $3,054,899.40. Following the completion of the sale, the chief executive officer now directly owns 349,261 shares of the company’s stock, valued at approximately $69,918,559.59. This trade represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,034,534 shares of company stock worth $1,253,883,872 over the last 90 days. 10.80% of the stock is currently owned by insiders.

About Representative McGarvey

Morgan McGarvey (Democratic Party) is a member of the U.S. House, representing Kentucky’s 3rd Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. McGarvey (Democratic Party) is running for re-election to the U.S. House to represent Kentucky’s 3rd Congressional District. He declared candidacy for the Democratic primary scheduled on May 21, 2024. McGarvey served as state Senate minority leader from 2019 to 2023. Morgan McGarvey was born in Louisville, Kentucky. McGarvey earned a bachelor’s degree in journalism from the University of Missouri and a law degree from the University of Kentucky. His career experience includes working as an attorney with Morgan & Pottinger PSC. McGarvey has been affiliated with the Young Professionals Association of Louisville and the New Leaders Council.

About Amazon.com

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.