Paces Ferry Wealth Advisors LLC Increases Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Jul 19th, 2023

Paces Ferry Wealth Advisors LLC grew its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 5.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,887 shares of the e-commerce giant’s stock after purchasing an additional 1,590 shares during the quarter. Amazon.com makes up approximately 2.7% of Paces Ferry Wealth Advisors LLC’s holdings, making the stock its 8th biggest position. Paces Ferry Wealth Advisors LLC’s holdings in Amazon.com were worth $3,294,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AMZN. Bridgefront Capital LLC bought a new stake in shares of Amazon.com in the first quarter valued at about $228,000. Krane Funds Advisors LLC boosted its position in Amazon.com by 239.1% in the first quarter. Krane Funds Advisors LLC now owns 78 shares of the e-commerce giant’s stock valued at $254,000 after buying an additional 55 shares during the last quarter. Range Financial Group LLC acquired a new position in Amazon.com in the first quarter valued at approximately $258,000. My Personal CFO LLC acquired a new position in Amazon.com in the first quarter valued at approximately $261,000. Finally, Worth Asset Management LLC acquired a new position in shares of Amazon.com during the 1st quarter worth approximately $191,000. 56.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AMZN. Deutsche Bank Aktiengesellschaft dropped their target price on Amazon.com from $130.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday, April 18th. Loop Capital raised their target price on Amazon.com from $140.00 to $180.00 in a research report on Thursday, June 22nd. Wells Fargo & Company started coverage on Amazon.com in a research note on Wednesday, June 7th. They set an “overweight” rating and a $159.00 price target on the stock. Piper Sandler lifted their target price on Amazon.com from $130.00 to $150.00 in a research note on Wednesday, June 7th. Finally, JMP Securities restated a “market outperform” rating and issued a $140.00 price target on shares of Amazon.com in a research note on Tuesday. Three equities research 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, Amazon.com has a consensus rating of “Moderate Buy” and an average price target of $144.74.

Insiders Place Their Bets

In related news, CEO Adam Selipsky sold 520 shares of the firm’s stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $104.34, for a total value of $54,256.80. Following the transaction, the chief executive officer now directly owns 135,760 shares of the company’s stock, valued at approximately $14,165,198.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Adam Selipsky sold 520 shares of Amazon.com stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $104.34, for a total transaction of $54,256.80. Following the sale, the chief executive officer now owns 135,760 shares of the company’s stock, valued at approximately $14,165,198.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew R. Jassy sold 21,925 shares of Amazon.com stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 1,997,681 shares in the company, valued at approximately $230,472,456.97. The disclosure for this sale can be found here. Insiders have sold a total of 73,325 shares of company stock valued at $8,482,125 in the last three months. Insiders own 12.70% of the company’s stock.

Amazon.com Trading Down 0.5 %

NASDAQ:AMZN opened at $132.83 on Wednesday. Amazon.com, Inc. has a 1 year low of $81.43 and a 1 year high of $146.57. The stock has a market cap of $1.36 trillion, a price-to-earnings ratio of 316.26, a PEG ratio of 2.60 and a beta of 1.26. The business has a fifty day moving average of $124.04 and a 200-day moving average of $107.52. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.69 and a current ratio of 0.92.

Amazon.com (NASDAQ:AMZN – Get Free Report) last announced 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. Amazon.com had a return on equity of 5.85% and a net margin of 0.82%. The business had revenue of $127.36 billion during the quarter, compared to analyst estimates of $124.57 billion. During the same quarter in the prior year, the firm posted $0.21 earnings per share. The company’s revenue was up 9.4% on a year-over-year basis. Equities analysts predict that Amazon.com, Inc. will post 1.58 earnings per share for the current year.

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.