Anchor Investment Management LLC Has $15.39 Million Position in Amazon.com, Inc. $AMZN

Anchor Investment Management LLC raised its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 3.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,881 shares of the e-commerce giant’s stock after buying an additional 2,160 shares during the quarter. Amazon.com accounts for approximately 1.3% of Anchor Investment Management LLC’s holdings, making the stock its 16th biggest holding. Anchor Investment Management LLC’s holdings in Amazon.com were worth $15,387,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Red Crane Wealth Management LLC boosted its holdings in shares of Amazon.com by 2.3% in the 1st quarter. Red Crane Wealth Management LLC now owns 1,663 shares of the e-commerce giant’s stock worth $346,000 after acquiring an additional 38 shares in the last quarter. Robinson Smith Wealth Advisors LLC raised its holdings in shares of Amazon.com by 0.7% in the first quarter. Robinson Smith Wealth Advisors LLC now owns 5,509 shares of the e-commerce giant’s stock valued at $1,147,000 after buying an additional 40 shares during the last quarter. Lifelong Wealth Advisors Inc. lifted its position in Amazon.com by 2.4% during the 4th quarter. Lifelong Wealth Advisors Inc. now owns 1,740 shares of the e-commerce giant’s stock worth $402,000 after buying an additional 41 shares in the last quarter. Financial Connections Group Inc. grew its holdings in Amazon.com by 2.6% during the 4th quarter. Financial Connections Group Inc. now owns 1,633 shares of the e-commerce giant’s stock worth $376,000 after acquiring an additional 42 shares during the last quarter. Finally, Marquette Asset Management LLC increased its position in Amazon.com by 5.1% in the 4th quarter. Marquette Asset Management LLC now owns 886 shares of the e-commerce giant’s stock valued at $205,000 after acquiring an additional 43 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

Amazon.com News Roundup

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

Analyst Ratings Changes

A number of brokerages recently weighed in on AMZN. Susquehanna reissued a “positive” rating and issued a $325.00 price target (up from $300.00) on shares of Amazon.com in a report on Thursday, April 30th. Rosenblatt Securities increased their price target on shares of Amazon.com from $296.00 to $332.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Royal Bank Of Canada restated a “buy” rating on shares of Amazon.com in a report on Tuesday, June 16th. Cantor Fitzgerald reiterated an “overweight” rating and set a $330.00 price objective (up from $280.00) on shares of Amazon.com in a report on Thursday, April 30th. Finally, Oppenheimer boosted their price objective on Amazon.com from $275.00 to $320.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Fifty-seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $312.91.

Insider Buying and Selling

In related news, CEO Andrew R. Jassy sold 20,000 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $263.42, for a total transaction of $5,268,400.00. Following the sale, the chief executive officer owned 2,205,766 shares of the company’s stock, valued at $581,042,879.72. This represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP David Zapolsky sold 9,270 shares of Amazon.com stock in a transaction on 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 transaction, the senior vice president directly owned 41,190 shares of the company’s stock, valued at $11,060,750.70. This represents a 18.37% decrease in their ownership of the stock. 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 quarter. Corporate insiders own 8.90% of the company’s stock.

Amazon.com Price Performance

NASDAQ:AMZN opened at $232.11 on Friday. Amazon.com, Inc. has a 12-month low of $196.00 and a 12-month high of $278.56. The stock’s 50 day moving average price is $248.26 and its two-hundred day moving average price is $236.32. The company has a quick ratio of 1.01, a current ratio of 1.18 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $2.50 trillion, a price-to-earnings ratio of 27.76, a P/E/G ratio of 1.75 and a beta of 1.46.

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

Amazon.com Company Profile

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.