Amazon.com, Inc. (NASDAQ:AMZN) Stock Position Raised by Private Management Group Inc.

Posted by Defense World Staff on Aug 26th, 2023

Private Management Group Inc. increased its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 89.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,354 shares of the e-commerce giant’s stock after acquiring an additional 2,530 shares during the period. Private Management Group Inc.’s holdings in Amazon.com were worth $553,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Amazon.com by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 701,550,877 shares of the e-commerce giant’s stock valued at $79,275,249,000 after buying an additional 12,456,995 shares during the last quarter. State Street Corp lifted its holdings in Amazon.com by 1.0% during the 3rd quarter. State Street Corp now owns 329,849,003 shares of the e-commerce giant’s stock valued at $37,272,937,000 after purchasing an additional 3,121,516 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Amazon.com by 1,838.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock valued at $33,134,481,000 after acquiring an additional 295,880,050 shares in the last quarter. FMR LLC grew its position in shares of Amazon.com by 1,792.4% during the 2nd quarter. FMR LLC now owns 286,047,356 shares of the e-commerce giant’s stock worth $30,381,089,000 after buying an additional 270,931,640 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Amazon.com by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 161,534,790 shares of the e-commerce giant’s stock valued at $13,541,345,000 after purchasing an additional 3,875,615 shares during the period. 56.67% of the stock is owned by institutional investors and hedge funds.

Amazon.com Trading Up 1.1 %

Shares of NASDAQ:AMZN opened at $133.26 on Friday. The stock’s 50-day simple moving average is $132.03 and its two-hundred day simple moving average is $114.78. The stock has a market capitalization of $1.37 trillion, a price-to-earnings ratio of 104.93, a PEG ratio of 1.79 and a beta of 1.26. Amazon.com, Inc. has a 52-week low of $81.43 and a 52-week high of $143.63. 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 (NASDAQ:AMZN – Get Free Report) last released its earnings results on Thursday, August 3rd. The e-commerce giant reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.29. Amazon.com had a return on equity of 9.14% and a net margin of 2.43%. The firm had revenue of $134.38 billion for the quarter, compared to the consensus estimate of $131.54 billion. Analysts expect that Amazon.com, Inc. will post 2.23 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of Amazon.com from $150.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, August 4th. Wolfe Research increased their price objective on shares of Amazon.com from $140.00 to $150.00 in a research report on Monday, July 10th. Credit Suisse Group increased their price objective on shares of Amazon.com from $176.00 to $189.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. Canaccord Genuity Group raised their price target on shares of Amazon.com from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Finally, JMP Securities raised their price target on shares of Amazon.com from $140.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Three research analysts have rated the stock with a hold rating and forty-seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Amazon.com presently has an average rating of “Moderate Buy” and an average price target of $160.87.

Get Our Latest Report on Amazon.com

Insider Activity at Amazon.com

In related news, VP Shelley Reynolds sold 3,100 shares of the business’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $133.87, for a total transaction of $414,997.00. Following the completion of the transaction, the vice president now owns 119,780 shares in the company, valued at approximately $16,034,948.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Shelley Reynolds sold 3,100 shares of the company’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $133.87, for a total transaction of $414,997.00. Following the completion of the sale, the vice president now directly owns 119,780 shares in the company, valued at approximately $16,034,948.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew R. Jassy sold 21,933 shares of the company’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $133.92, for a total value of $2,937,267.36. Following the sale, the chief executive officer now owns 2,030,868 shares of the company’s stock, valued at $271,973,842.56. The disclosure for this sale can be found here. Insiders sold a total of 1,366,329 shares of company stock worth $48,990,512 in the last quarter. 12.30% of the stock is owned by company 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.