Northwest Bancshares Inc. Grows Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Sep 5th, 2023

Northwest Bancshares Inc. raised its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,452 shares of the e-commerce giant’s stock after acquiring an additional 232 shares during the quarter. Northwest Bancshares Inc.’s holdings in Amazon.com were worth $666,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meiji Yasuda Life Insurance Co increased its position in Amazon.com by 6.5% during the first quarter. Meiji Yasuda Life Insurance Co now owns 196,741 shares of the e-commerce giant’s stock worth $20,321,000 after buying an additional 11,942 shares in the last quarter. Innovis Asset Management LLC increased its position in Amazon.com by 2.5% during the 1st quarter. Innovis Asset Management LLC now owns 25,512 shares of the e-commerce giant’s stock worth $2,635,000 after purchasing an additional 617 shares in the last quarter. Simplify Asset Management Inc. acquired a new position in Amazon.com in the 1st quarter valued at about $299,000. Bell Investment Advisors Inc lifted its holdings in Amazon.com by 68.1% in the 1st quarter. Bell Investment Advisors Inc now owns 2,405 shares of the e-commerce giant’s stock valued at $248,000 after purchasing an additional 974 shares in the last quarter. Finally, S.A. Mason LLC boosted its stake in shares of Amazon.com by 11.2% during the 1st quarter. S.A. Mason LLC now owns 2,972 shares of the e-commerce giant’s stock worth $307,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Amazon.com Trading Up 0.1 %

Shares of NASDAQ AMZN opened at $138.12 on Tuesday. Amazon.com, Inc. has a 12-month low of $81.43 and a 12-month high of $143.63. The company has a market cap of $1.43 trillion, a price-to-earnings ratio of 108.76, a price-to-earnings-growth ratio of 1.83 and a beta of 1.24. The company has a current ratio of 0.95, a quick ratio of 0.70 and a debt-to-equity ratio of 0.37. The stock’s 50 day simple moving average is $133.12 and its 200 day simple moving average is $116.55.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on AMZN. Piper Jaffray Companies boosted their price objective on shares of Amazon.com from $130.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, June 7th. Barclays increased their price target on Amazon.com from $140.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, August 7th. UBS Group lifted their price objective on Amazon.com from $150.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, August 4th. CICC Research started coverage on Amazon.com in a research note on Sunday, July 9th. They issued an “outperform” rating for the company. Finally, Piper Sandler raised their price target on Amazon.com from $175.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, August 24th. Two analysts have rated the stock with a hold rating and forty-eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $160.87.

Read Our Latest Stock Analysis on AMZN

Insider Activity at Amazon.com

In other Amazon.com news, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $125.07, for a total value of $62,535.00. Following the completion of the transaction, the chief executive officer now owns 151,780 shares in the company, valued at approximately $18,983,124.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Amazon.com news, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $125.07, for a total transaction of $62,535.00. Following the completion of the transaction, the chief executive officer now owns 151,780 shares in the company, valued at approximately $18,983,124.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Douglas J. Herrington sold 4,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $133.55, for a total value of $534,200.00. Following the transaction, the chief executive officer now directly owns 560,301 shares in the company, valued at $74,828,198.55. The disclosure for this sale can be found here. Insiders have sold a total of 1,361,829 shares of company stock worth $48,444,937 in the last ninety days. 12.70% of the stock is owned by insiders.

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.