Financial Management Network Inc. Lowers Position in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Jun 3rd, 2023

Financial Management Network Inc. lowered its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN – Get Rating) by 10.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,041 shares of the e-commerce giant’s stock after selling 3,510 shares during the period. Amazon.com comprises 1.1% of Financial Management Network Inc.’s portfolio, making the stock its 22nd largest holding. Financial Management Network Inc.’s holdings in Amazon.com were worth $2,473,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in AMZN. McElhenny Sheffield Capital Management LLC purchased a new stake in Amazon.com during the fourth quarter worth about $27,000. St. James Investment Advisors LLC raised its position in Amazon.com by 97.7% during the fourth quarter. St. James Investment Advisors LLC now owns 344 shares of the e-commerce giant’s stock worth $29,000 after acquiring an additional 170 shares during the last quarter. Retirement Financial Solutions LLC acquired a new position in Amazon.com during the fourth quarter worth about $32,000. Laurel Wealth Planning LLC raised its position in Amazon.com by 1,900.0% during the second quarter. Laurel Wealth Planning LLC now owns 320 shares of the e-commerce giant’s stock worth $34,000 after acquiring an additional 304 shares during the last quarter. Finally, Swaine & Leidel Wealth Services LLC acquired a new position in Amazon.com during the first quarter worth about $38,000. Hedge funds and other institutional investors own 57.64% of the company’s stock.

Amazon.com Trading Up 1.2 %

AMZN opened at $124.25 on Friday. The stock has a market capitalization of $1.27 trillion, a PE ratio of 295.83, a P/E/G ratio of 4.19 and a beta of 1.25. The firm’s fifty day moving average price is $107.92 and its 200 day moving average price is $98.83. 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 12-month low of $81.43 and a 12-month high of $146.57.

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

Insiders Place Their Bets

In other Amazon.com news, 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 transaction of $230,681.66. Following the sale, the chief executive officer now directly owns 138,320 shares of the company’s stock, valued at $13,879,028.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Amazon.com news, 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 transaction of $230,681.66. Following the sale, the chief executive officer now directly owns 138,320 shares of the company’s stock, valued at $13,879,028.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew R. Jassy sold 21,925 shares of the stock in a transaction on 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 directly owns 1,997,681 shares in the company, valued at $230,472,456.97. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,144 shares of company stock valued at $8,030,687. Company insiders own 12.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on AMZN. Needham & Company LLC restated a “buy” rating and set a $120.00 target price on shares of Amazon.com in a research report on Wednesday, April 12th. Wells Fargo & Company cut their target price on shares of Amazon.com from $155.00 to $145.00 in a research report on Friday, February 3rd. Piper Sandler lifted their target price on shares of Amazon.com from $123.00 to $130.00 in a research report on Friday, April 28th. Moffett Nathanson cut their target price on shares of Amazon.com from $119.00 to $116.00 and set an “outperform” rating for the company in a research report on Monday, April 24th. Finally, Mizuho boosted their price objective on shares of Amazon.com from $135.00 to $145.00 in a research report on Friday, April 28th. Three research analysts have rated the stock with a hold rating and forty have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $143.52.

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.