Formidable Asset Management LLC Has $2.78 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by on Mar 13th, 2023

Formidable Asset Management LLC grew its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN – Get Rating) by 10.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,242 shares of the e-commerce giant’s stock after buying an additional 2,149 shares during the period. Amazon.com makes up 0.6% of Formidable Asset Management LLC’s investment portfolio, making the stock its 21st largest holding. Formidable Asset Management LLC’s holdings in Amazon.com were worth $2,783,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMZN. Iron Horse Wealth Management LLC increased its holdings in Amazon.com by 4,540.0% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 232 shares of the e-commerce giant’s stock worth $25,000 after acquiring an additional 227 shares during the last quarter. Wells Financial Advisors INC boosted its position in shares of Amazon.com by 1,900.0% during the 2nd quarter. Wells Financial Advisors INC now owns 280 shares of the e-commerce giant’s stock valued at $30,000 after acquiring an additional 266 shares during the last quarter. Knott David M Jr bought a new stake in shares of Amazon.com during the 2nd quarter valued at about $32,000. Laurel Wealth Planning LLC boosted its position in shares of Amazon.com by 1,900.0% during the 2nd quarter. Laurel Wealth Planning LLC now owns 320 shares of the e-commerce giant’s stock valued at $34,000 after acquiring an additional 304 shares during the last quarter. Finally, Baron Financial Group LLC boosted its position in shares of Amazon.com by 1,900.0% during the 2nd quarter. Baron Financial Group LLC now owns 360 shares of the e-commerce giant’s stock valued at $38,000 after acquiring an additional 342 shares during the last quarter. 57.64% of the stock is currently owned by institutional investors.

Amazon.com Price Performance

Shares of AMZN opened at $90.73 on Monday. The company has a current ratio of 0.94, a quick ratio of 0.72 and a debt-to-equity ratio of 0.46. The firm’s fifty day simple moving average is $95.85 and its 200-day simple moving average is $102.56. The firm has a market capitalization of $929.73 billion, a price-to-earnings ratio of -338.53, a PEG ratio of 3.74 and a beta of 1.25. Amazon.com, Inc. has a twelve month low of $81.43 and a twelve month high of $170.83.

Amazon.com (NASDAQ:AMZN – Get Rating) last posted its earnings results on Thursday, February 2nd. The e-commerce giant reported $0.03 EPS 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 analysts’ expectations of $145.72 billion. Amazon.com had a negative net margin of 0.53% and a positive return on equity of 5.33%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the business earned $1.39 earnings per share. Equities analysts forecast that Amazon.com, Inc. will post 1.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other Amazon.com news, CEO Douglas J. Herrington sold 4,000 shares of the firm’s stock in a transaction on Monday, February 6th. The shares were sold at an average price of $102.90, for a total transaction of $411,600.00. Following the transaction, the chief executive officer now directly owns 529,435 shares of the company’s stock, valued at approximately $54,478,861.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Adam Selipsky sold 5,100 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 124,180 shares in the company, valued at approximately $13,837,377.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas J. Herrington sold 4,000 shares of the firm’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $102.90, for a total transaction of $411,600.00. Following the completion of the sale, the chief executive officer now owns 529,435 shares of the company’s stock, valued at approximately $54,478,861.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,394 shares of company stock valued at $6,994,626. Insiders own 12.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AMZN shares. Oppenheimer lifted their price target on Amazon.com from $130.00 to $135.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. Robert W. Baird lifted their price target on Amazon.com from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. New Street Research started coverage on Amazon.com in a research report on Wednesday, January 4th. They issued a “buy” rating and a $130.00 target price for the company. Piper Sandler boosted their target price on Amazon.com from $119.00 to $123.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Finally, Cowen boosted their target price on Amazon.com from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-one have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.87.

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.

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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