Clear Creek Financial Management LLC Boosts Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Jul 13th, 2023

Clear Creek Financial Management LLC increased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 0.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 49,263 shares of the e-commerce giant’s stock after acquiring an additional 461 shares during the quarter. Amazon.com accounts for 1.0% of Clear Creek Financial Management LLC’s portfolio, making the stock its 20th largest position. Clear Creek Financial Management LLC’s holdings in Amazon.com were worth $5,088,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. McElhenny Sheffield Capital Management LLC bought a new stake in Amazon.com during the 4th quarter worth approximately $27,000. St. James Investment Advisors LLC raised its stake in Amazon.com by 97.7% during the 4th 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 period. Retirement Financial Solutions LLC bought a new stake in Amazon.com during the 4th quarter worth approximately $32,000. Laurel Wealth Planning LLC raised its stake in Amazon.com by 1,900.0% during the 2nd 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 period. Finally, Sanctuary Wealth Management L.L.C. bought a new stake in Amazon.com during the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 56.67% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on AMZN. UBS Group raised their target price on shares of Amazon.com from $130.00 to $150.00 in a research note on Thursday, June 8th. Sanford C. Bernstein lifted their price objective on shares of Amazon.com from $125.00 to $140.00 in a research report on Wednesday, May 31st. Bank of America lifted their price objective on shares of Amazon.com from $139.00 to $154.00 in a research report on Monday, June 12th. Oppenheimer reduced their price objective on shares of Amazon.com from $135.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, April 6th. Finally, Robert W. Baird lifted their price objective on shares of Amazon.com from $125.00 to $130.00 in a research report on Friday, April 28th. Three analysts have rated the stock with a hold rating and forty-one have issued a buy rating to the stock. According to MarketBeat, Amazon.com has an average rating of “Moderate Buy” and an average target price of $144.93.

Amazon.com Stock Up 1.6 %

Shares of AMZN opened at $130.80 on Thursday. The firm has a market capitalization of $1.34 trillion, a P/E ratio of 311.43, a P/E/G ratio of 2.52 and a beta of 1.26. Amazon.com, Inc. has a 12-month low of $81.43 and a 12-month high of $146.57. 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 fifty day moving average price of $121.77 and a 200-day moving average price of $105.95.

Amazon.com (NASDAQ:AMZN – Get Free Report) last released its quarterly earnings data on Thursday, April 27th. The e-commerce giant reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.09. The firm had revenue of $127.36 billion during the quarter, compared to the consensus estimate of $124.57 billion. Amazon.com had a return on equity of 5.85% and a net margin of 0.82%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 earnings per share. Equities research analysts expect that Amazon.com, Inc. will post 1.56 earnings per share for the current year.

Insider Activity at Amazon.com

In related news, CEO Andrew R. Jassy sold 21,925 shares of Amazon.com stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $115.37, for a total value of $2,529,487.25. Following the completion of the sale, the chief executive officer now directly owns 1,997,681 shares in the company, valued at $230,472,456.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Andrew R. Jassy sold 21,925 shares of Amazon.com stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $115.37, for a total value of $2,529,487.25. Following the completion of the sale, the chief executive officer now directly owns 1,997,681 shares in the company, valued at $230,472,456.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $126.27, for a total value of $63,135.00. Following the completion of the sale, the chief executive officer now owns 152,780 shares of the company’s stock, valued at $19,291,530.60. The disclosure for this sale can be found here. Insiders sold 73,845 shares of company stock worth $8,536,085 over the last three months. 12.70% of the stock is owned by corporate insiders.

About Amazon.com

(Free Report)

Amazon.com, Inc engages in the retail sale of consumer products and subscriptions through online and physical stores in North America and internationally. It operates through three segments: North America, International, and Amazon Web Services (AWS). The company's products offered through its stores include merchandise and content purchased for resale; and products offered by third-party sellers.