Amazon.com, Inc. (NASDAQ:AMZN) Stock Position Boosted by Baker Avenue Asset Management LP

Posted by Defense World Staff on Mar 13th, 2023

Baker Avenue Asset Management LP boosted its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 33.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 242,265 shares of the e-commerce giant’s stock after buying an additional 60,813 shares during the quarter. Amazon.com makes up about 1.7% of Baker Avenue Asset Management LP’s holdings, making the stock its 10th largest position. Baker Avenue Asset Management LP’s holdings in Amazon.com were worth $27,376,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Bridgefront Capital LLC purchased a new position in Amazon.com in the first quarter valued at $228,000. Krane Funds Advisors LLC boosted its stake in Amazon.com by 239.1% in the first quarter. Krane Funds Advisors LLC now owns 78 shares of the e-commerce giant’s stock valued at $254,000 after acquiring an additional 55 shares in the last quarter. Range Financial Group LLC acquired a new position in Amazon.com in the first quarter valued at $258,000. My Personal CFO LLC acquired a new position in Amazon.com in the first quarter valued at $261,000. Finally, Worth Asset Management LLC acquired a new position in Amazon.com in the first quarter valued at $191,000. Hedge funds and other institutional investors own 57.64% of the company’s stock.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Adam Selipsky sold 5,100 shares of Amazon.com stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $111.43, for a total value of $568,293.00. Following the transaction, the chief executive officer now owns 124,180 shares in the company, valued at approximately $13,837,377.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Andrew R. Jassy sold 23,874 shares of Amazon.com stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $99.15, for a total transaction of $2,367,107.10. Following the transaction, the chief executive officer now owns 1,964,506 shares in the company, valued at approximately $194,780,769.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam Selipsky sold 5,100 shares of Amazon.com stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $111.43, for a total transaction of $568,293.00. Following the transaction, the chief executive officer now owns 124,180 shares in the company, valued at approximately $13,837,377.40. The disclosure for this sale can be found here. Insiders have sold a total of 71,394 shares of company stock worth $6,994,626 in the last quarter. 12.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Credit Suisse Group upped their price objective on shares of Amazon.com from $142.00 to $171.00 and gave the company an “outperform” rating in a research note on Monday, January 30th. Morgan Stanley upped their price objective on shares of Amazon.com from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. UBS Group raised their price objective on shares of Amazon.com from $118.00 to $127.00 in a research report on Friday, February 3rd. Wells Fargo & Company reduced their price objective on shares of Amazon.com from $155.00 to $145.00 in a research report on Friday, February 3rd. Finally, Rosenblatt Securities raised their price objective on shares of Amazon.com from $103.00 to $106.00 and gave the company a “neutral” rating in a research report on Friday, February 3rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and forty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $144.87.

Amazon.com Stock Down 1.6 %

AMZN stock opened at $90.73 on Monday. The stock has a market capitalization of $929.73 billion, a P/E ratio of -338.53, a PEG ratio of 3.74 and a beta of 1.25. The company has a 50 day moving average price of $95.85 and a two-hundred day moving average price of $102.56. Amazon.com, Inc. has a one year low of $81.43 and a one year high of $170.83. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.72 and a current ratio of 0.94.

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

Amazon.com 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.