Triple Frond Partners LLC Has $48.65 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on May 25th, 2023

Triple Frond Partners LLC increased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 23.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 579,136 shares of the e-commerce giant’s stock after buying an additional 110,360 shares during the period. Amazon.com accounts for 8.0% of Triple Frond Partners LLC’s holdings, making the stock its 6th biggest holding. Triple Frond Partners LLC’s holdings in Amazon.com were worth $48,648,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Amazon.com by 1.8% in the third 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 third quarter. State Street Corp now owns 329,849,003 shares of the e-commerce giant’s stock valued at $37,272,937,000 after buying an additional 3,121,516 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Amazon.com by 1,838.8% during the second 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 last quarter. FMR LLC grew its holdings in shares of Amazon.com by 1,792.4% during the second 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 last quarter. Finally, Northern Trust Corp grew its holdings in shares of Amazon.com by 1,867.0% during the second 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 last quarter. 57.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction on Wednesday, April 5th. The shares were sold at an average price of $101.67, for a total value of $50,835.00. Following the completion of the sale, the chief executive officer now owns 137,300 shares of the company’s stock, valued at approximately $13,959,291. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Shelley Reynolds sold 3,100 shares of the company’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $115.60, for a total value of $358,360.00. Following the completion of the sale, the vice president now owns 119,780 shares of the company’s stock, valued at approximately $13,846,568. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction on Wednesday, April 5th. The shares were sold at an average price of $101.67, for a total transaction of $50,835.00. Following the completion of the sale, the chief executive officer now directly owns 137,300 shares of the company’s stock, valued at approximately $13,959,291. The disclosure for this sale can be found here. In the last 90 days, insiders sold 75,144 shares of company stock valued at $8,405,887. Corporate insiders own 12.70% of the company’s stock.

Amazon.com Price Performance

AMZN stock opened at $116.75 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.92 and a quick ratio of 0.69. Amazon.com, Inc. has a one year low of $81.43 and a one year high of $146.57. The stock has a market cap of $1.20 trillion, a PE ratio of 277.98, a P/E/G ratio of 4.00 and a beta of 1.26. The firm has a 50 day simple moving average of $104.89 and a two-hundred day simple moving average of $97.55.

Amazon.com (NASDAQ:AMZN – Get Rating) last released its quarterly earnings results on Thursday, April 27th. The e-commerce giant reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.09. Amazon.com had a net margin of 0.82% and a return on equity of 5.85%. The business had revenue of $127.36 billion during the quarter, compared to analysts’ expectations of $124.57 billion. During the same quarter in the previous year, the company earned $0.21 EPS. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, analysts predict that Amazon.com, Inc. will post 1.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of Amazon.com from $125.00 to $130.00 in a report on Friday, April 28th. DA Davidson lifted their price objective on shares of Amazon.com from $114.00 to $134.00 and gave the company a “buy” rating in a report on Friday, February 3rd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Amazon.com from $130.00 to $125.00 and set a “buy” rating on the stock in a research report on Tuesday, April 18th. Moffett Nathanson dropped their price target on shares of Amazon.com from $119.00 to $116.00 and set an “outperform” rating on the stock in a research report on Monday, April 24th. Finally, Oppenheimer dropped their price target on shares of Amazon.com from $135.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, April 6th. Three research analysts have rated the stock with a hold rating and forty-one have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $143.12.

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.