MMA Asset Management LLC Grows Position in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by on May 26th, 2023

MMA Asset Management LLC grew its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 20.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,023 shares of the e-commerce giant’s stock after purchasing an additional 1,172 shares during the period. MMA Asset Management LLC’s holdings in Amazon.com were worth $590,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of AMZN. Bridgefront Capital LLC purchased a new position in shares of Amazon.com during the 1st quarter valued at approximately $228,000. Krane Funds Advisors LLC lifted its position in shares of Amazon.com by 239.1% during the 1st quarter. Krane Funds Advisors LLC now owns 78 shares of the e-commerce giant’s stock valued at $254,000 after buying an additional 55 shares in the last quarter. Range Financial Group LLC purchased a new position in shares of Amazon.com during the 1st quarter valued at approximately $258,000. My Personal CFO LLC purchased a new position in shares of Amazon.com during the 1st quarter valued at approximately $261,000. Finally, Worth Asset Management LLC purchased a new position in shares of Amazon.com during the 1st quarter valued at approximately $191,000. Hedge funds and other institutional investors own 57.64% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Mizuho increased their target price on Amazon.com from $135.00 to $145.00 in a research report on Friday, April 28th. Robert W. Baird raised their price objective on Amazon.com from $125.00 to $130.00 in a report on Friday, April 28th. JPMorgan Chase & Co. raised their price objective on Amazon.com from $135.00 to $145.00 in a report on Friday, April 28th. JMP Securities restated a “market outperform” rating and issued a $140.00 price objective on shares of Amazon.com in a report on Wednesday, April 19th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $125.00 price objective on shares of Amazon.com in a report on Thursday, April 20th. Three analysts have rated the stock with a hold rating and forty-one have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $143.12.

Insider Buying and Selling

In related news, VP Shelley Reynolds sold 3,100 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $115.60, for a total transaction of $358,360.00. Following the completion of the sale, the vice president now owns 119,780 shares in the company, valued at $13,846,568. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Shelley Reynolds sold 3,100 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $115.60, for a total transaction of $358,360.00. Following the completion of the sale, the vice president now owns 119,780 shares in the company, valued at $13,846,568. The transaction 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 that occurred 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 sale, the chief executive officer now owns 138,320 shares of the company’s stock, valued at approximately $13,879,028.80. The disclosure for this sale can be found here. Insiders sold a total of 75,144 shares of company stock worth $8,405,887 over the last 90 days. 12.30% of the stock is owned by insiders.

Amazon.com Stock Performance

Shares of AMZN opened at $115.00 on Friday. The stock has a 50-day simple moving average of $105.19 and a 200-day simple moving average of $97.67. 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 stock has a market capitalization of $1.18 trillion, a PE ratio of 273.81, a PEG ratio of 4.00 and a beta of 1.26. Amazon.com, Inc. has a 1 year low of $81.43 and a 1 year high of $146.57.

Amazon.com (NASDAQ:AMZN – Get Rating) last posted its earnings results on Thursday, April 27th. The e-commerce giant reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.09. The firm had revenue of $127.36 billion during 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 quarter in the previous year, the business earned $0.21 earnings per share. On average, analysts predict that Amazon.com, Inc. will post 1.57 earnings per share for the current fiscal year.

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.

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

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