SCS Capital Management LLC Purchases 1,912 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Mar 9th, 2023

SCS Capital Management LLC increased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 188,992 shares of the e-commerce giant’s stock after acquiring an additional 1,912 shares during the quarter. Amazon.com comprises 0.6% of SCS Capital Management LLC’s holdings, making the stock its 22nd biggest position. SCS Capital Management LLC’s holdings in Amazon.com were worth $21,356,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AMZN. Dohj LLC raised its stake in Amazon.com by 1.8% in the 3rd quarter. Dohj LLC now owns 24,839 shares of the e-commerce giant’s stock worth $2,807,000 after acquiring an additional 451 shares during the last quarter. Bassett Hargrove Investment Counsel LLC purchased a new position in shares of Amazon.com in the third quarter worth about $2,120,000. Asset Management One Co. Ltd. lifted its holdings in shares of Amazon.com by 0.8% during the third quarter. Asset Management One Co. Ltd. now owns 4,185,666 shares of the e-commerce giant’s stock worth $472,980,000 after purchasing an additional 32,781 shares during the period. West Coast Financial LLC purchased a new stake in Amazon.com in the third quarter valued at approximately $210,000. Finally, Gulf International Bank UK Ltd lifted its stake in shares of Amazon.com by 1.0% in the 3rd quarter. Gulf International Bank UK Ltd now owns 1,526,940 shares of the e-commerce giant’s stock valued at $172,544,000 after purchasing an additional 15,640 shares during the period. Hedge funds and other institutional investors own 57.64% of the company’s stock.

Amazon.com Trading Up 0.4 %

NASDAQ AMZN opened at $93.92 on Thursday. Amazon.com, Inc. has a 12 month low of $81.43 and a 12 month high of $170.83. The stock has a market capitalization of $962.42 billion, a P/E ratio of -350.43, a PEG ratio of 3.87 and a beta of 1.25. The firm’s 50-day moving average is $95.55 and its two-hundred day moving average is $103.36. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.72.

Amazon.com (NASDAQ:AMZN – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The e-commerce giant reported $0.03 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.12). Amazon.com had a positive return on equity of 5.33% and a negative net margin of 0.53%. The company had revenue of $149.20 billion during the quarter, compared to analyst estimates of $145.72 billion. During the same quarter in the prior year, the company posted $1.39 earnings per share. The business’s revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Amazon.com, Inc. will post 1.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AMZN has been the topic of several analyst reports. Erste Group Bank lowered shares of Amazon.com from a “buy” rating to a “hold” rating in a research report on Friday, November 18th. Oppenheimer lifted their price target on Amazon.com from $130.00 to $135.00 and gave the company an “outperform” rating in a research note on Friday, February 3rd. MKM Partners lowered their price target on Amazon.com from $145.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, January 18th. Truist Financial cut their price objective on Amazon.com from $160.00 to $142.00 and set a “buy” rating for the company in a research report on Friday, February 3rd. Finally, DA Davidson increased their target price on Amazon.com from $114.00 to $134.00 and gave the company a “buy” rating in a research report on Friday, February 3rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and forty-one have given a buy rating to the company. Based on data from MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and an average target price of $144.87.

Insider Transactions at Amazon.com

In related news, CEO Douglas J. Herrington sold 4,000 shares of the business’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $93.80, for a total value of $375,200.00. Following the sale, the chief executive officer now owns 560,298 shares in the company, valued at approximately $52,555,952.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Douglas J. Herrington sold 4,000 shares of Amazon.com stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $93.80, for a total value of $375,200.00. Following the completion of the transaction, the chief executive officer now owns 560,298 shares in the company, valued at $52,555,952.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adam Selipsky sold 5,100 shares of the stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $111.43, for a total transaction of $568,293.00. Following the sale, the chief executive officer now owns 124,180 shares in the company, valued at $13,837,377.40. The disclosure for this sale can be found here. Insiders sold a total of 71,394 shares of company stock worth $6,994,626 over the last ninety days. Company insiders own 12.70% of the company’s stock.

Amazon.com Company Profile

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Amazon.com, Inc is a multinational technology company, which engages in the provision of online retail shopping services. It operates through the following segments: North America, International, and Amazon Web Services (AWS). The North America segment is involved in the retail sales of consumer products including from sellers and subscriptions through North America-focused online and physical stores.