Spark Investment Management LLC Buys 47,000 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Jun 7th, 2023

Spark Investment Management LLC raised its stake in Amazon.com, Inc. (NASDAQ:AMZN – Get Rating) by 108.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,180 shares of the e-commerce giant’s stock after buying an additional 47,000 shares during the period. Amazon.com accounts for 16.5% of Spark Investment Management LLC’s holdings, making the stock its 2nd largest holding. Spark Investment Management LLC’s holdings in Amazon.com were worth $7,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Bridgefront Capital LLC acquired a new position in shares of Amazon.com during the first quarter worth $228,000. Krane Funds Advisors LLC lifted its holdings in shares of Amazon.com by 239.1% during the first quarter. Krane Funds Advisors LLC now owns 78 shares of the e-commerce giant’s stock worth $254,000 after purchasing an additional 55 shares during the period. Range Financial Group LLC acquired a new position in shares of Amazon.com during the first quarter worth $258,000. My Personal CFO LLC acquired a new position in shares of Amazon.com during the first quarter worth $261,000. Finally, Worth Asset Management LLC acquired a new position in shares of Amazon.com during the first quarter worth $191,000. Institutional investors and hedge funds own 57.64% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Piper Sandler lifted their price target on shares of Amazon.com from $123.00 to $130.00 in a report on Friday, April 28th. Tigress Financial reissued a “buy” rating and set a $192.00 target price on shares of Amazon.com in a research note on Thursday, February 9th. Needham & Company LLC reissued a “buy” rating and set a $120.00 target price on shares of Amazon.com in a research note on Wednesday, April 12th. Wolfe Research lifted their target price on shares of Amazon.com from $130.00 to $140.00 in a research note on Friday, April 28th. Finally, Robert W. Baird lifted their target price on shares of Amazon.com from $125.00 to $130.00 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.52.

Amazon.com Stock Up 1.0 %

Amazon.com stock opened at $126.61 on Wednesday. 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 cap of $1.30 trillion, a PE ratio of 301.45, a price-to-earnings-growth ratio of 2.41 and a beta of 1.26. Amazon.com, Inc. has a fifty-two week low of $81.43 and a fifty-two week high of $146.57. The firm’s 50-day simple moving average is $109.06 and its 200 day simple moving average is $99.29.

Amazon.com (NASDAQ:AMZN – Get Rating) last released its earnings results on Thursday, April 27th. The e-commerce giant reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates 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 company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.21 earnings per share. Research analysts predict that Amazon.com, Inc. will post 1.57 EPS for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 4,000 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $120.61, for a total value of $482,440.00. Following the transaction, the chief executive officer now directly owns 568,301 shares in the company, valued at $68,542,783.61. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Douglas J. Herrington sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $120.61, for a total transaction of $482,440.00. Following the sale, the chief executive officer now directly owns 568,301 shares in the company, valued at approximately $68,542,783.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Shelley Reynolds sold 3,100 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $115.60, for a total transaction of $358,360.00. Following the sale, the vice president now owns 119,780 shares in the company, valued at $13,846,568. The disclosure for this sale can be found here. Insiders have sold a total of 75,144 shares of company stock worth $8,513,127 over the last three months. 12.70% of the stock is currently owned by insiders.

Amazon.com Company Profile

(Get Rating)

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.