Northstar Asset Management Inc. Buys New Shares in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on May 25th, 2023

Northstar Asset Management Inc. purchased a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN – Get Rating) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,356 shares of the e-commerce giant’s stock, valued at approximately $1,038,000.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Amazon.com by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 701,550,877 shares of the e-commerce giant’s stock valued at $79,275,249,000 after acquiring an additional 12,456,995 shares during the last quarter. State Street Corp lifted its position in 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 purchasing an additional 3,121,516 shares during the period. Price T Rowe Associates Inc. MD grew its position in 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 position in 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 raised its stake 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 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 hedge funds and other institutional investors.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $116.75 on Thursday. Amazon.com, Inc. has a fifty-two week low of $81.43 and a fifty-two week high of $146.57. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.69 and a current ratio of 0.92. The company has a 50 day moving average price of $104.89 and a 200 day moving average price of $97.55. The stock has a market capitalization of $1.20 trillion, a P/E ratio of 277.98, a PEG ratio of 4.00 and a beta of 1.26.

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. The company had revenue of $127.36 billion for the quarter, compared to analysts’ expectations of $124.57 billion. Amazon.com had a return on equity of 5.85% and a net margin of 0.82%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 earnings per share. Equities research analysts forecast that Amazon.com, Inc. will post 1.57 EPS for the current year.

Insiders Place Their Bets

In other Amazon.com news, CEO Adam Selipsky sold 2,299 shares of the stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $100.34, for a total transaction of $230,681.66. Following the sale, the chief executive officer now directly owns 138,320 shares in the company, valued at approximately $13,879,028.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Amazon.com news, CEO Andrew R. Jassy sold 21,925 shares of the company’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $115.37, for a total transaction of $2,529,487.25. Following the sale, the chief executive officer now owns 1,997,681 shares in the company, valued at approximately $230,472,456.97. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Adam Selipsky sold 2,299 shares of the business’s stock in a transaction dated Tuesday, March 21st. The stock was sold at an average price of $100.34, for a total value of $230,681.66. Following the transaction, the chief executive officer now directly owns 138,320 shares of the company’s stock, valued at $13,879,028.80. The disclosure for this sale can be found here. Insiders have sold 75,144 shares of company stock worth $8,405,887 over the last three months. Company insiders own 12.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AMZN. Tigress Financial reissued a “buy” rating and issued a $192.00 price target on shares of Amazon.com in a report on Thursday, February 9th. Wedbush raised their price target on shares of Amazon.com from $125.00 to $129.00 in a research report on Friday, April 28th. Credit Suisse Group decreased their price objective on shares of Amazon.com from $150.00 to $140.00 in a research report on Tuesday, April 25th. Wells Fargo & Company dropped their target price on Amazon.com from $155.00 to $145.00 in a research report on Friday, February 3rd. Finally, StockNews.com initiated coverage on Amazon.com in a report on Thursday, May 18th. They issued a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating and forty-one have given a buy rating to the company. According to MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and an average target price of $143.12.

Amazon.com Company 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.