Amazon.com, Inc. (NASDAQ:AMZN) is Newbridge Financial Services Group Inc.’s 2nd Largest Position

Posted by Defense World Staff on Mar 26th, 2023

Newbridge Financial Services Group Inc. raised its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 10.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,179 shares of the e-commerce giant’s stock after buying an additional 7,498 shares during the quarter. Amazon.com makes up approximately 3.8% of Newbridge Financial Services Group Inc.’s holdings, making the stock its 2nd largest holding. Newbridge Financial Services Group Inc.’s holdings in Amazon.com were worth $6,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of 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 purchasing an additional 12,456,995 shares during the period. State Street Corp grew its holdings in shares of 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 worth $37,272,937,000 after purchasing an additional 3,121,516 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Amazon.com by 1,838.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock worth $33,134,481,000 after purchasing an additional 295,880,050 shares during the period. FMR LLC grew its holdings in shares of Amazon.com by 1,792.4% during the 2nd quarter. FMR LLC now owns 286,047,356 shares of the e-commerce giant’s stock worth $30,381,089,000 after purchasing an additional 270,931,640 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Amazon.com by 1,867.0% during the 2nd quarter. Northern Trust Corp now owns 94,997,372 shares of the e-commerce giant’s stock worth $10,089,669,000 after purchasing an additional 90,167,792 shares during the period. Hedge funds and other institutional investors own 57.64% of the company’s stock.

Amazon.com Price Performance

Shares of AMZN opened at $98.13 on Friday. Amazon.com, Inc. has a 12 month low of $81.43 and a 12 month high of $170.83. The company has a market cap of $1.01 trillion, a P/E ratio of -363.44, a PEG ratio of 4.09 and a beta of 1.25. The stock has a fifty day moving average price of $97.58 and a 200 day moving average price of $100.54. 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 released its quarterly earnings results on Thursday, February 2nd. The e-commerce giant reported $0.03 earnings per share (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 business had revenue of $149.20 billion during the quarter, compared to the consensus estimate of $145.72 billion. During the same period in the previous year, the company posted $1.39 EPS. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, research analysts forecast that Amazon.com, Inc. will post 1.33 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. DA Davidson boosted their target price on Amazon.com from $114.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, February 3rd. Truist Financial decreased their target price on Amazon.com from $160.00 to $142.00 and set a “buy” rating for the company in a report on Friday, February 3rd. Telsey Advisory Group reduced their price target on Amazon.com from $140.00 to $125.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 24th. Cowen boosted their price target on Amazon.com from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Thursday, December 1st. Finally, Needham & Company LLC reissued a “buy” rating and set a $120.00 price target on shares of Amazon.com 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $144.72.

Insider Transactions at Amazon.com

In other news, CEO Adam Selipsky sold 2,299 shares of the stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $100.34, for a total value of $230,681.66. Following the completion of the transaction, the chief executive officer now owns 138,320 shares of the company’s stock, valued at $13,879,028.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Adam Selipsky sold 2,299 shares of the stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $100.34, for a total value of $230,681.66. Following the completion of the transaction, the chief executive officer now owns 138,320 shares of the company’s stock, valued at $13,879,028.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Andrew R. Jassy sold 23,874 shares of the stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $99.15, for a total value of $2,367,107.10. Following the completion of the transaction, the chief executive officer now directly owns 1,964,506 shares of the company’s stock, valued at approximately $194,780,769.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,693 shares of company stock valued at $7,225,308. 12.70% of the stock is currently owned by corporate insiders.

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.