53,901 Shares in Amazon.com, Inc. (NASDAQ:AMZN) Acquired by Spotlight Asset Group Inc.

Posted by Defense World Staff on Mar 16th, 2023

Spotlight Asset Group Inc. bought a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN – Get Rating) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 53,901 shares of the e-commerce giant’s stock, valued at approximately $6,431,000. Amazon.com makes up approximately 6.4% of Spotlight Asset Group Inc.’s investment portfolio, making the stock its 3rd largest position.

A number of other institutional investors and hedge funds have also bought and sold shares of AMZN. Vanguard Group Inc. grew its stake in Amazon.com by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 701,550,877 shares of the e-commerce giant’s stock worth $79,275,249,000 after buying an additional 12,456,995 shares during the last quarter. State Street Corp grew its stake in Amazon.com by 1.0% during the 3rd quarter. State Street Corp now owns 329,849,003 shares of the e-commerce giant’s stock valued at $37,272,937,000 after purchasing an additional 3,121,516 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Amazon.com by 1,838.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock valued at $33,134,481,000 after buying an additional 295,880,050 shares during the period. FMR LLC lifted its holdings in shares of Amazon.com by 1,792.4% in the 2nd quarter. FMR LLC now owns 286,047,356 shares of the e-commerce giant’s stock valued at $30,381,089,000 after buying an additional 270,931,640 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Amazon.com by 1,867.0% in the 2nd quarter. Northern Trust Corp now owns 94,997,372 shares of the e-commerce giant’s stock valued at $10,089,669,000 after buying an additional 90,167,792 shares during the period. 57.64% of the stock is owned by institutional investors.

Amazon.com Price Performance

AMZN opened at $96.20 on Thursday. The firm has a market cap of $985.79 billion, a price-to-earnings ratio of -356.30, a price-to-earnings-growth ratio of 3.74 and a beta of 1.25. Amazon.com, Inc. has a fifty-two week low of $81.43 and a fifty-two week high of $170.83. The company’s 50-day moving average price is $96.42 and its 200 day moving average price is $101.95. The company has a quick ratio of 0.72, a current ratio of 0.94 and a debt-to-equity ratio of 0.46.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Robert W. Baird upped their price target on Amazon.com from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, February 3rd. Benchmark upped their price target on Amazon.com from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 3rd. UBS Group increased their price objective on Amazon.com from $118.00 to $127.00 in a research report on Friday, February 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $120.00 price objective on shares of Amazon.com in a research report on Friday, February 3rd. Finally, Wolfe Research raised their price target on Amazon.com from $115.00 to $130.00 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 given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $144.87.

Insiders Place Their Bets

In other Amazon.com news, CEO Adam Selipsky sold 5,100 shares of the company’s stock in a transaction dated 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 transaction, 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 legal filing with the SEC, which is available through the SEC website. In other Amazon.com news, CEO Adam Selipsky sold 5,100 shares of the company’s stock in a transaction dated 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 transaction, 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 legal filing with the SEC, which is available through the SEC website. Also, CEO Douglas J. Herrington sold 4,000 shares of the company’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $93.80, for a total transaction of $375,200.00. Following the completion of the transaction, the chief executive officer now owns 560,298 shares of the company’s stock, valued at approximately $52,555,952.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,394 shares of company stock worth $6,994,626. Insiders own 12.70% of the company’s stock.

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.