American National Bank Boosts Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by on Mar 20th, 2023

American National Bank raised its position in shares of Amazon.com, Inc. (NASDAQ:AMZN – Get Rating) by 19.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 182,667 shares of the e-commerce giant’s stock after purchasing an additional 29,969 shares during the period. Amazon.com accounts for approximately 3.1% of American National Bank’s portfolio, making the stock its 7th largest holding. American National Bank’s holdings in Amazon.com were worth $15,344,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of AMZN. Bridgefront Capital LLC purchased a new position in Amazon.com during the 1st quarter valued at about $228,000. Krane Funds Advisors LLC boosted its position in shares of 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 during the period. Range Financial Group LLC bought a new stake in shares of Amazon.com during the 1st quarter worth $258,000. My Personal CFO LLC purchased a new position in Amazon.com in the first quarter worth $261,000. Finally, Worth Asset Management LLC purchased a new stake in Amazon.com during the first quarter valued at about $191,000. 57.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Amazon.com news, CEO Adam Selipsky sold 5,100 shares of the firm’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $111.43, for a total transaction of $568,293.00. Following the completion of the sale, the chief executive officer now directly owns 124,180 shares in the company, valued at approximately $13,837,377.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Douglas J. Herrington sold 4,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 560,298 shares of the company’s stock, valued at approximately $52,555,952.40. The transaction was disclosed in a legal filing 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 stock was 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 directly owns 124,180 shares of the company’s stock, 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. Corporate insiders own 12.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AMZN shares. Wells Fargo & Company cut their price objective on Amazon.com from $155.00 to $145.00 in a report on Friday, February 3rd. JPMorgan Chase & Co. decreased their price target on shares of Amazon.com from $142.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday. Susquehanna upped their price objective on shares of Amazon.com from $140.00 to $150.00 and gave the company a “positive” rating in a research note on Friday, February 3rd. Barclays lifted their target price on shares of Amazon.com from $130.00 to $150.00 in a research report on Friday, February 3rd. Finally, Piper Sandler upped their price target on shares of Amazon.com from $119.00 to $123.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and forty-one have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $144.72.

Amazon.com Stock Performance

Shares of AMZN opened at $98.95 on Monday. The company has a quick ratio of 0.72, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The stock has a market cap of $1.01 trillion, a P/E ratio of -366.48, a P/E/G ratio of 4.11 and a beta of 1.25. The business’s 50 day moving average price is $97.01 and its 200-day moving average price is $101.35. Amazon.com, Inc. has a 52 week low of $81.43 and a 52 week high of $170.83.

Amazon.com (NASDAQ:AMZN – Get Rating) last released its earnings results 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 the consensus estimate of $145.72 billion. During the same period last year, the firm posted $1.39 earnings per share. The company’s revenue was up 8.6% compared to the same quarter last year. Equities research analysts anticipate that Amazon.com, Inc. will post 1.33 earnings per share for the current fiscal 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.

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

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