Cascade Investment Group Inc. Invests $1.33 Million in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by on Jun 17th, 2023

Cascade Investment Group Inc. bought a new position in Amazon.com, Inc. (NASDAQ:AMZN – Get Rating) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 15,870 shares of the e-commerce giant’s stock, valued at approximately $1,333,000. Amazon.com accounts for about 1.4% of Cascade Investment Group Inc.’s holdings, making the stock its 16th largest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kavar Capital Partners Group LLC raised its holdings in shares of Amazon.com by 7.6% during the first quarter. Kavar Capital Partners Group LLC now owns 1,121 shares of the e-commerce giant’s stock worth $3,654,000 after acquiring an additional 79 shares in the last quarter. IFM Investors Pty Ltd raised its holdings in Amazon.com by 21.8% during the first quarter. IFM Investors Pty Ltd now owns 72,911 shares of the e-commerce giant’s stock valued at $237,686,000 after buying an additional 13,060 shares in the last quarter. Ironwood Wealth Management LLC. raised its holdings in Amazon.com by 0.8% during the first quarter. Ironwood Wealth Management LLC. now owns 1,810 shares of the e-commerce giant’s stock valued at $5,901,000 after buying an additional 15 shares in the last quarter. Markel Corp raised its holdings in Amazon.com by 0.6% during the first quarter. Markel Corp now owns 99,068 shares of the e-commerce giant’s stock valued at $322,956,000 after buying an additional 550 shares in the last quarter. Finally, Leelyn Smith LLC raised its holdings in Amazon.com by 24.8% during the first quarter. Leelyn Smith LLC now owns 2,721 shares of the e-commerce giant’s stock valued at $8,870,000 after buying an additional 540 shares in the last quarter. Institutional investors and hedge funds own 57.64% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on AMZN. Piper Sandler raised their target price on Amazon.com from $130.00 to $150.00 in a report on Wednesday, June 7th. Moffett Nathanson dropped their price objective on Amazon.com from $119.00 to $116.00 and set an “outperform” rating on the stock in a research note on Monday, April 24th. Wolfe Research lifted their price objective on Amazon.com from $130.00 to $140.00 in a research note on Friday, April 28th. Sanford C. Bernstein lifted their price objective on Amazon.com from $125.00 to $140.00 in a research note on Wednesday, May 31st. Finally, Barclays dropped their price objective on Amazon.com from $150.00 to $140.00 in a research note on Friday, April 28th. Three analysts have rated the stock with a hold rating and forty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, Amazon.com currently has an average rating of “Moderate Buy” and an average target price of $145.28.

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 shares were sold at an average price of $115.60, for a total value of $358,360.00. Following the completion of the transaction, the vice president now owns 119,780 shares in the company, valued at approximately $13,846,568. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $115.60, for a total value of $358,360.00. Following the completion of the transaction, the vice president now owns 119,780 shares in the company, valued at approximately $13,846,568. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas J. Herrington sold 4,000 shares of the company’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $102.25, for a total transaction of $409,000.00. Following the sale, the chief executive officer now owns 556,298 shares of the company’s stock, valued at approximately $56,881,470.50. The disclosure for this sale can be found here. Insiders sold 75,644 shares of company stock worth $8,576,262 in the last quarter. Insiders own 12.30% of the company’s stock.

Amazon.com Stock Down 1.3 %

Shares of AMZN opened at $125.49 on Friday. The company has a market capitalization of $1.29 trillion, a P/E ratio of 298.79, a PEG ratio of 2.46 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. Amazon.com, Inc. has a one year low of $81.43 and a one year high of $146.57. The business’s 50 day simple moving average is $112.74 and its 200-day simple moving average is $100.96.

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 the consensus estimate of $0.22 by $0.09. Amazon.com had a net margin of 0.82% and a return on equity of 5.85%. The firm had revenue of $127.36 billion during the quarter, compared to analysts’ expectations of $124.57 billion. During the same quarter in the previous year, the company posted $0.21 EPS. Amazon.com’s revenue was up 9.4% on a year-over-year basis. As a group, sell-side analysts predict that Amazon.com, Inc. will post 1.56 EPS 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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