State of Alaska Department of Revenue Raises Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

State of Alaska Department of Revenue boosted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,296,478 shares of the e-commerce giant’s stock after purchasing an additional 38,470 shares during the quarter. Amazon.com comprises 2.8% of State of Alaska Department of Revenue’s portfolio, making the stock its 4th biggest holding. State of Alaska Department of Revenue’s holdings in Amazon.com were worth $246,667,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Tallon Kerry Patrick bought a new stake in Amazon.com in the 4th quarter worth approximately $800,000. Capital & Planning LLC increased its stake in Amazon.com by 72.1% in the 4th quarter. Capital & Planning LLC now owns 3,902 shares of the e-commerce giant’s stock worth $856,000 after acquiring an additional 1,635 shares during the last quarter. LaFleur & Godfrey LLC increased its stake in Amazon.com by 1.8% in the 4th quarter. LaFleur & Godfrey LLC now owns 49,407 shares of the e-commerce giant’s stock worth $10,839,000 after acquiring an additional 860 shares during the last quarter. Brighton Jones LLC increased its stake in Amazon.com by 10.9% in the 4th quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant’s stock worth $885,478,000 after acquiring an additional 397,007 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in Amazon.com in the 4th quarter worth approximately $301,650,000. Institutional investors own 72.20% of the company’s stock.

Amazon.com Trading Up 1.5%

AMZN opened at $223.13 on Monday. The firm has a market cap of $2.37 trillion, a price-to-earnings ratio of 36.34, a PEG ratio of 1.68 and a beta of 1.33. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52. The stock has a fifty day moving average price of $206.44 and a 200-day moving average price of $208.52.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.21. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The firm had revenue of $155.67 billion for the quarter, compared to the consensus estimate of $154.96 billion. During the same period in the previous year, the business earned $0.98 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, equities research analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AMZN. Piper Sandler reaffirmed an “overweight” rating and issued a $212.00 price objective (down previously from $215.00) on shares of Amazon.com in a research note on Friday, May 2nd. UBS Group reaffirmed a “buy” rating on shares of Amazon.com in a research note on Tuesday, May 6th. Rosenblatt Securities lifted their price objective on Amazon.com from $287.00 to $288.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Barclays reduced their price objective on Amazon.com from $265.00 to $240.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Finally, Tigress Financial lifted their target price on Amazon.com from $290.00 to $305.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating, forty-five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Amazon.com currently has a consensus rating of “Moderate Buy” and an average target price of $245.60.

Insider Activity

In related news, SVP David Zapolsky sold 13,570 shares of the business’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $202.41, for a total transaction of $2,746,703.70. Following the transaction, the senior vice president directly owned 47,030 shares in the company, valued at $9,519,342.30. The trade was a 22.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Brian T. Olsavsky sold 17,750 shares of the business’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $201.57, for a total value of $3,577,867.50. Following the sale, the chief financial officer owned 49,000 shares in the company, valued at approximately $9,876,930. The trade was a 26.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,426,963 shares of company stock worth $757,297,707 over the last quarter. Company insiders own 10.80% of the company’s stock.

Amazon.com Company Profile

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.