Beacon Bridge Wealth Partners LLC Acquires Shares of 2,415 Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Jun 8th, 2023

Beacon Bridge Wealth Partners LLC acquired a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,415 shares of the e-commerce giant’s stock, valued at approximately $203,000.

A number of other large investors have also added to or reduced their stakes in AMZN. Bridgefront Capital LLC bought a new stake in Amazon.com during the first quarter valued at about $228,000. Krane Funds Advisors LLC grew its holdings in Amazon.com by 239.1% during the first quarter. Krane Funds Advisors LLC now owns 78 shares of the e-commerce giant’s stock valued at $254,000 after purchasing an additional 55 shares during the period. Range Financial Group LLC bought a new stake in Amazon.com during the first quarter valued at about $258,000. My Personal CFO LLC bought a new stake in Amazon.com during the first quarter valued at about $261,000. Finally, Worth Asset Management LLC bought a new stake in Amazon.com during the first quarter valued at about $191,000. Hedge funds and other institutional investors own 57.64% of the company’s stock.

Insider Activity

In other news, VP Shelley Reynolds sold 3,100 shares of Amazon.com 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 of the company’s stock, valued at approximately $13,846,568. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Amazon.com 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 value of $358,360.00. Following the sale, the vice president now owns 119,780 shares of the company’s stock, valued at $13,846,568. The sale was disclosed in a filing with the SEC, which can be accessed 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 shares were sold at an average price of $100.34, for a total value of $230,681.66. Following the completion of the sale, 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. In the last 90 days, insiders have sold 75,144 shares of company stock valued at $8,513,127. 12.70% of the stock is currently owned by company insiders.

Amazon.com Trading Down 4.2 %

Shares of Amazon.com stock opened at $121.23 on Thursday. The stock has a market cap of $1.24 trillion, a P/E ratio of 288.64, a P/E/G ratio of 2.43 and a beta of 1.26. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.92 and a quick ratio of 0.69. The stock’s 50 day simple moving average is $109.48 and its 200-day simple moving average is $99.44. 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 released its quarterly earnings results on Thursday, April 27th. The e-commerce giant reported $0.31 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 analyst estimates of $124.57 billion. Amazon.com had a net margin of 0.82% and a return on equity of 5.85%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.21 EPS. Analysts predict that Amazon.com, Inc. will post 1.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AMZN. Tigress Financial reaffirmed a “buy” rating and issued a $192.00 price objective on shares of Amazon.com in a research note on Thursday, February 9th. Sanford C. Bernstein upped their price objective on Amazon.com from $125.00 to $140.00 in a research note on Wednesday, May 31st. Wolfe Research upped their price objective on Amazon.com from $130.00 to $140.00 in a research note on Friday, April 28th. JMP Securities reissued a “market outperform” rating and set a $140.00 price target on shares of Amazon.com in a research note on Wednesday, April 19th. Finally, Wells Fargo & Company initiated coverage on Amazon.com in a research note on Wednesday. They set an “overweight” rating for the company. Three analysts have rated the stock with a hold rating and forty-one have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $144.14.

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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