Treasurer of the State of North Carolina raised its position in Amazon.com, Inc. (NASDAQ:AMZN) by 0.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,992,160 shares of the e-commerce giant’s stock after purchasing an additional 33,060 shares during the quarter. Amazon.com accounts for about 2.3% of Treasurer of the State of North Carolina’s holdings, making the stock its 3rd biggest holding. Treasurer of the State of North Carolina’s holdings in Amazon.com were worth $412,350,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in AMZN. Bridgefront Capital LLC acquired a new position in Amazon.com during the 1st quarter worth about $228,000. Krane Funds Advisors LLC lifted its stake in shares of Amazon.com by 239.1% in the first quarter. Krane Funds Advisors LLC now owns 78 shares of the e-commerce giant’s stock worth $254,000 after acquiring an additional 55 shares during the period. Range Financial Group LLC bought a new stake in Amazon.com in the first quarter valued at approximately $258,000. My Personal CFO LLC acquired a new stake in Amazon.com during the 1st quarter valued at approximately $261,000. Finally, Worth Asset Management LLC bought a new position in Amazon.com during the 1st quarter worth approximately $191,000. 56.67% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms have recently commented on AMZN. Mizuho upped their price objective on shares of Amazon.com from $160.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Bank of America increased their price target on Amazon.com from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Redburn Partners lifted their price objective on Amazon.com from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, August 11th. Truist Financial raised their target price on Amazon.com from $144.00 to $176.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Finally, Rosenblatt Securities upgraded Amazon.com from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $111.00 to $184.00 in a report on Friday, August 4th. Three analysts have rated the stock with a hold rating and forty-six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $159.46.
Insider Activity
In related news, CEO Douglas J. Herrington sold 50,000 shares of Amazon.com stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $141.00, for a total value of $7,050,000.00. Following the sale, the chief executive officer now owns 510,301 shares of the company’s stock, valued at approximately $71,952,441. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Douglas J. Herrington sold 50,000 shares of Amazon.com stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $141.00, for a total value of $7,050,000.00. Following the completion of the sale, the chief executive officer now owns 510,301 shares of the company’s stock, valued at approximately $71,952,441. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Amazon Com Inc sold 1,177,000 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $19.50, for a total value of $22,951,500.00. Following the completion of the sale, the insider now owns 12,741,445 shares in the company, valued at $248,458,177.50. The disclosure for this sale can be found here. Insiders sold 1,289,545 shares of company stock valued at $37,421,157 in the last three months. Company insiders own 12.70% of the company’s stock.
Amazon.com Stock Performance
NASDAQ AMZN opened at $135.07 on Thursday. The company has a market capitalization of $1.39 trillion, a PE ratio of 106.36, a price-to-earnings-growth ratio of 1.93 and a beta of 1.26. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.70 and a current ratio of 0.95. Amazon.com, Inc. has a 52-week low of $81.43 and a 52-week high of $143.63. The company has a 50-day simple moving average of $130.89 and a 200 day simple moving average of $113.42.
Amazon.com Company Profile
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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