Amazon.com, Inc. (NASDAQ:AMZN) Stock Position Cut by Twin Capital Management Inc.

Posted by Defense World Staff on Aug 26th, 2023

Twin Capital Management Inc. reduced its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 10.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 162,186 shares of the e-commerce giant’s stock after selling 18,858 shares during the quarter. Amazon.com makes up about 2.3% of Twin Capital Management Inc.’s holdings, making the stock its 4th biggest holding. Twin Capital Management Inc.’s holdings in Amazon.com were worth $16,752,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Hamilton Wealth LLC boosted its holdings in shares of Amazon.com by 8.2% during the 1st quarter. Hamilton Wealth LLC now owns 155,345 shares of the e-commerce giant’s stock valued at $16,046,000 after buying an additional 11,728 shares in the last quarter. Pragma Gestao DE Patrimonio Ltd. boosted its holdings in shares of Amazon.com by 1.3% during the 1st quarter. Pragma Gestao DE Patrimonio Ltd. now owns 155,000 shares of the e-commerce giant’s stock valued at $16,010,000 after buying an additional 2,000 shares in the last quarter. Vantage Financial Partners LLC boosted its holdings in shares of Amazon.com by 10.7% during the 1st quarter. Vantage Financial Partners LLC now owns 5,712 shares of the e-commerce giant’s stock valued at $590,000 after buying an additional 550 shares in the last quarter. Cambiar Investors LLC boosted its holdings in shares of Amazon.com by 17.3% during the 1st quarter. Cambiar Investors LLC now owns 459,765 shares of the e-commerce giant’s stock valued at $47,489,000 after buying an additional 67,710 shares in the last quarter. Finally, Laurel Wealth Advisors LLC boosted its holdings in shares of Amazon.com by 4.7% during the 1st quarter. Laurel Wealth Advisors LLC now owns 58,629 shares of the e-commerce giant’s stock valued at $6,056,000 after buying an additional 2,610 shares in the last quarter. 56.67% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Stock Up 1.1 %

NASDAQ AMZN opened at $133.26 on Friday. 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 company has a market capitalization of $1.37 trillion, a P/E ratio of 104.93, a P/E/G ratio of 1.79 and a beta of 1.26. Amazon.com, Inc. has a one year low of $81.43 and a one year high of $143.63. The stock has a 50 day moving average price of $132.03 and a 200-day moving average price of $114.78.

Amazon.com (NASDAQ:AMZN – Get Free Report) last posted its earnings results on Thursday, August 3rd. The e-commerce giant reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.29. The firm had revenue of $134.38 billion during the quarter, compared to the consensus estimate of $131.54 billion. Amazon.com had a return on equity of 9.14% and a net margin of 2.43%. As a group, equities analysts predict that Amazon.com, Inc. will post 2.23 EPS for the current fiscal year.

Insider Activity

In related news, CEO Douglas J. Herrington sold 50,000 shares of the firm’s stock in a transaction on 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 directly owns 510,301 shares in the company, valued at $71,952,441. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Douglas J. Herrington sold 50,000 shares of the firm’s stock in a transaction on 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 directly owns 510,301 shares in the company, valued at $71,952,441. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Shelley Reynolds sold 3,100 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $133.87, for a total value of $414,997.00. Following the completion of the sale, the vice president now owns 119,780 shares of the company’s stock, valued at $16,034,948.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,366,329 shares of company stock worth $48,990,512. 12.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AMZN has been the topic of a number of research reports. Tigress Financial boosted their target price on shares of Amazon.com from $192.00 to $204.00 in a report on Thursday, July 13th. Susquehanna upped their price target on shares of Amazon.com from $150.00 to $185.00 and gave the stock a “positive” rating in a research note on Friday, August 4th. Canaccord Genuity Group upped their price target on shares of Amazon.com from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. BNP Paribas upgraded shares of Amazon.com from an “underperform” rating to a “neutral” rating and set a $140.00 price target on the stock in a research note on Friday, August 4th. Finally, Wells Fargo & Company upped their price target on shares of Amazon.com from $159.00 to $165.00 and gave the stock an “overweight” rating in a research note on Friday, August 4th. Three research analysts have rated the stock with a hold rating and forty-seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.87.

Get Our Latest Research Report on AMZN

Amazon.com 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.