Account Management LLC Acquires New Position in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by on Aug 14th, 2023

Account Management LLC acquired a new stake in Amazon.com, Inc. (NASDAQ:AMZN) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,365 shares of the e-commerce giant’s stock, valued at approximately $244,000. Amazon.com accounts for 0.3% of Account Management LLC’s holdings, making the stock its 19th largest holding.

Several other large investors have also bought and sold shares of the business. Beverly Hills Private Wealth LLC lifted its holdings in Amazon.com by 7.8% in the first quarter. Beverly Hills Private Wealth LLC now owns 32,084 shares of the e-commerce giant’s stock valued at $3,314,000 after buying an additional 2,314 shares during the period. WealthSpring Partners LLC lifted its holdings in Amazon.com by 0.8% in the first quarter. WealthSpring Partners LLC now owns 16,100 shares of the e-commerce giant’s stock valued at $1,663,000 after buying an additional 120 shares during the period. Westpac Banking Corp lifted its holdings in Amazon.com by 10.7% in the first quarter. Westpac Banking Corp now owns 1,198,109 shares of the e-commerce giant’s stock valued at $123,753,000 after buying an additional 115,738 shares during the period. NorthRock Partners LLC raised its holdings in Amazon.com by 0.6% in the first quarter. NorthRock Partners LLC now owns 64,436 shares of the e-commerce giant’s stock worth $6,656,000 after purchasing an additional 373 shares during the period. Finally, RF&L Wealth Management LLC raised its holdings in Amazon.com by 3.6% in the first quarter. RF&L Wealth Management LLC now owns 25,847 shares of the e-commerce giant’s stock worth $2,670,000 after purchasing an additional 900 shares during the period. 56.67% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Stock Performance

NASDAQ AMZN opened at $138.41 on Monday. The firm has a 50-day moving average of $130.09 and a 200-day moving average of $112.73. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.70 and a current ratio of 0.95. The stock has a market cap of $1.42 trillion, a PE ratio of 108.99, a P/E/G ratio of 1.90 and a beta of 1.26. Amazon.com, Inc. has a 52-week low of $81.43 and a 52-week high of $146.57.

Insider Transactions at Amazon.com

In other news, major shareholder Amazon Com Inc sold 1,177,000 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $19.50, for a total transaction of $22,951,500.00. Following the completion of the sale, the insider now owns 12,741,445 shares in the company, valued at approximately $248,458,177.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Amazon.com news, VP Shelley Reynolds sold 3,100 shares of Amazon.com stock in a transaction dated 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 sale, the vice president now owns 119,780 shares in the company, valued at approximately $13,846,568. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Amazon Com Inc sold 1,177,000 shares of Amazon.com stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $19.50, for a total transaction of $22,951,500.00. Following the completion of the sale, the insider now owns 12,741,445 shares of the company’s stock, valued at approximately $248,458,177.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,289,545 shares of company stock worth $37,421,157. 12.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on AMZN. Bank of America increased their target price on shares of Amazon.com from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, August 4th. CICC Research began coverage on shares of Amazon.com in a report on Sunday, July 9th. They issued an “outperform” rating on the stock. Morgan Stanley increased their target price on shares of Amazon.com from $150.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, August 4th. Loop Capital increased their target price on shares of Amazon.com from $140.00 to $180.00 in a report on Thursday, June 22nd. Finally, Piper Jaffray Companies increased their target price on shares of Amazon.com from $130.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, June 7th. Two analysts have rated the stock with a hold rating and forty-seven have assigned a buy rating to the company. According to data from MarketBeat.com, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.46.

Read Our Latest Stock Analysis on AMZN

Amazon.com Company Profile

(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.

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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