True Capital Management Makes New $2.51 Million Investment in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Jun 3rd, 2023

True Capital Management acquired a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN – Get Rating) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 29,875 shares of the e-commerce giant’s stock, valued at approximately $2,510,000. Amazon.com comprises 2.0% of True Capital Management’s holdings, making the stock its 11th largest position.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake 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 valued at $79,275,249,000 after buying an additional 12,456,995 shares during the last quarter. State Street Corp raised its stake 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 valued at $37,272,937,000 after buying an additional 3,121,516 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake 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 valued at $33,134,481,000 after buying an additional 295,880,050 shares during the last quarter. FMR LLC raised its stake 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 valued at $30,381,089,000 after buying an additional 270,931,640 shares during the last quarter. 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. Hedge funds and other institutional investors own 57.64% of the company’s stock.

Insider Activity at Amazon.com

In related news, CFO Brian T. Olsavsky sold 16,800 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $116.69, for a total value of $1,960,392.00. Following the transaction, the chief financial officer now owns 49,000 shares of the company’s stock, valued at $5,717,810. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Brian T. Olsavsky sold 16,800 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $116.69, for a total value of $1,960,392.00. Following the transaction, the chief financial officer now owns 49,000 shares of the company’s stock, valued at $5,717,810. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam Selipsky sold 2,299 shares of the stock in a transaction on Tuesday, March 21st. The shares were 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 directly owns 138,320 shares in the company, valued at approximately $13,879,028.80. The disclosure for this sale can be found here. Insiders have sold 71,144 shares of company stock valued at $8,030,687 over the last quarter. 12.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on AMZN. Deutsche Bank Aktiengesellschaft cut their price target on Amazon.com from $130.00 to $125.00 and set a “buy” rating for the company in a research note on Tuesday, April 18th. Wolfe Research lifted their price target on Amazon.com from $130.00 to $140.00 in a research note on Friday, April 28th. Benchmark lifted their price target on Amazon.com from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 3rd. Susquehanna lifted their price target on Amazon.com from $140.00 to $150.00 and gave the company a “positive” rating in a research note on Friday, February 3rd. Finally, Mizuho lifted their price target on Amazon.com from $135.00 to $145.00 in a research note on Friday, April 28th. Three research analysts have rated the stock with a hold rating and forty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $143.52.

Amazon.com Stock Up 1.2 %

Amazon.com stock opened at $124.25 on Friday. Amazon.com, Inc. has a twelve month low of $81.43 and a twelve month high of $146.57. The stock’s fifty day simple moving average is $107.92 and its 200-day simple moving average is $98.83. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $1.27 trillion, a P/E ratio of 295.83, a P/E/G ratio of 4.19 and a beta of 1.25.

Amazon.com (NASDAQ:AMZN – Get Rating) last posted its quarterly earnings data on Thursday, April 27th. The e-commerce giant reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.09. Amazon.com had a return on equity of 5.85% and a net margin of 0.82%. The business had revenue of $127.36 billion for the quarter, compared to analyst estimates of $124.57 billion. During the same quarter in the prior year, the company earned $0.21 earnings per share. The company’s revenue was up 9.4% on a year-over-year basis. As a group, equities analysts expect that Amazon.com, Inc. will post 1.57 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.