Archer Investment Corp Boosts Holdings in Amazon.com, Inc. $AMZN

Archer Investment Corp boosted its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 31.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,497 shares of the e-commerce giant’s stock after purchasing an additional 4,210 shares during the quarter. Amazon.com makes up approximately 0.8% of Archer Investment Corp’s holdings, making the stock its 25th biggest position. Archer Investment Corp’s holdings in Amazon.com were worth $3,644,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AMZN. MilWealth Group LLC grew its stake in Amazon.com by 79.0% during the fourth quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant’s stock valued at $41,000 after acquiring an additional 79 shares in the last quarter. Lifetime Wealth Management P.C. purchased a new stake in Amazon.com in the 4th quarter worth $45,000. Elkhorn Partners Limited Partnership lifted its stake 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 worth $46,000 after purchasing an additional 180 shares in the last quarter. Fairway Wealth LLC boosted its holdings in shares of Amazon.com by 95.6% during the 4th quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant’s stock valued at $51,000 after purchasing an additional 108 shares during the last quarter. Finally, Prudent Man Investment Management Inc. boosted its holdings in shares of 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 valued at $53,000 after purchasing an additional 107 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AMZN has been the topic of several research reports. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $315.00 target price (up from $300.00) on shares of Amazon.com in a report on Thursday, April 30th. Benchmark increased their price target on Amazon.com from $275.00 to $370.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Raymond James Financial restated an “outperform” rating and set a $280.00 price target on shares of Amazon.com in a report on Friday, May 1st. TD Cowen reaffirmed a “buy” rating and set a $340.00 price objective (down from $350.00) on shares of Amazon.com in a report on Wednesday, July 8th. Finally, Guggenheim reiterated a “buy” rating and set a $320.00 target price (up from $300.00) on shares of Amazon.com 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $312.91.

Key Amazon.com News

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

Insiders Place Their Bets

In related news, CEO Douglas J. Herrington sold 1,000 shares of Amazon.com stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $239.77, for a total transaction of $239,770.00. Following the completion of the transaction, the chief executive officer directly owned 484,527 shares of the company’s stock, valued at approximately $116,175,038.79. The trade was a 0.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew R. Jassy sold 20,000 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $263.42, for a total transaction of $5,268,400.00. Following the transaction, the chief executive officer owned 2,205,766 shares in the company, valued at $581,042,879.72. The trade was a 0.90% 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. In the last quarter, insiders have sold 140,425 shares of company stock valued at $37,715,464. 8.90% of the stock is currently owned by company insiders.

Amazon.com Stock Performance

NASDAQ AMZN opened at $232.11 on Monday. The business’s 50 day moving average price is $248.26 and its 200-day moving average price is $236.34. Amazon.com, Inc. has a fifty-two week low of $196.00 and a fifty-two week high of $278.56. The company has a market cap of $2.50 trillion, a P/E ratio of 27.76, a P/E/G ratio of 1.74 and a beta of 1.46. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.18.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $1.15. The company had revenue of $181.52 billion during the quarter, compared to the consensus estimate of $177.28 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.Amazon.com’s revenue was up 16.6% on a year-over-year basis. During the same period last year, the company earned $1.59 earnings per share. Sell-side analysts predict 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.