Bleakley Financial Group LLC grew its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 5.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 383,493 shares of the e-commerce giant’s stock after purchasing an additional 20,978 shares during the period. Amazon.com comprises about 1.2% of Bleakley Financial Group LLC’s investment portfolio, making the stock its 15th biggest holding. Bleakley Financial Group LLC’s holdings in Amazon.com were worth $79,870,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in AMZN. Vanguard Group Inc. boosted its holdings in shares of Amazon.com by 1.1% in the first quarter. Vanguard Group Inc. now owns 832,274,556 shares of the e-commerce giant’s stock worth $158,348,557,000 after buying an additional 8,913,959 shares during the last quarter. State Street Corp increased its stake in Amazon.com by 1.8% in the 4th quarter. State Street Corp now owns 388,653,121 shares of the e-commerce giant’s stock worth $89,708,913,000 after buying an additional 6,971,680 shares in the last quarter. Geode Capital Management LLC raised its stake in Amazon.com by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 225,120,994 shares of the e-commerce giant’s stock valued at $51,753,622,000 after purchasing an additional 2,479,324 shares during the period. Norges Bank purchased a new position in shares of Amazon.com in the fourth quarter worth $32,868,735,000. Finally, Auto Owners Insurance Co increased its holdings in shares of Amazon.com by 27,376.7% in the fourth quarter. Auto Owners Insurance Co now owns 98,448,885 shares of the e-commerce giant’s stock worth $2,272,397,000 after purchasing an additional 98,090,585 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.
Amazon.com Stock Performance
Amazon.com stock opened at $232.11 on Monday. The stock’s 50 day simple moving average is $248.26 and its two-hundred day simple moving average is $236.34. Amazon.com, Inc. has a 12 month low of $196.00 and a 12 month high of $278.56. The firm has a market cap of $2.50 trillion, a PE ratio of 27.76, a P/E/G ratio of 1.74 and a beta of 1.46. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on AMZN shares. Wells Fargo & Company set a $322.00 price target on shares of Amazon.com and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Canaccord Genuity Group upped their price objective on Amazon.com from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Amazon.com in a research note on Friday, June 26th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $315.00 price objective on shares of Amazon.com in a research note on Wednesday, July 15th. Finally, Susquehanna restated a “positive” rating and set a $325.00 target price (up from $300.00) on shares of Amazon.com in a report on Thursday, April 30th. Fifty-seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $312.91.
View Our Latest Stock Analysis on Amazon.com
Insiders Place Their Bets
In other Amazon.com news, CEO Andrew R. Jassy sold 20,000 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $263.42, for a total value of $5,268,400.00. Following the completion of the sale, the chief executive officer directly owned 2,205,766 shares in the company, valued at $581,042,879.72. This represents a 0.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew S. Garman sold 15,467 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $263.40, for a total transaction of $4,074,007.80. Following the sale, the chief executive officer owned 14,159 shares of the company’s stock, valued at approximately $3,729,480.60. The trade was a 52.21% 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. Over the last three months, insiders sold 140,425 shares of company stock valued at $37,715,464. Corporate insiders own 8.90% of the company’s stock.
Amazon.com News Summary
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
Amazon.com 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.
Further Reading
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