Montchanin Asset Management LLC Buys New Shares in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Sep 6th, 2023

Montchanin Asset Management LLC purchased a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,160 shares of the e-commerce giant’s stock, valued at approximately $223,000.

Other large investors also recently modified their holdings of the company. Bridgefront Capital LLC acquired a new position in shares of Amazon.com during the 1st quarter worth about $228,000. Krane Funds Advisors LLC grew its holdings in Amazon.com by 239.1% during the first quarter. Krane Funds Advisors LLC now owns 78 shares of the e-commerce giant’s stock worth $254,000 after purchasing an additional 55 shares during the period. Range Financial Group LLC acquired a new position in Amazon.com during the first quarter worth approximately $258,000. My Personal CFO LLC bought a new stake in Amazon.com in the first quarter valued at approximately $261,000. Finally, Worth Asset Management LLC acquired a new stake in shares of Amazon.com in the first quarter valued at approximately $191,000. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Amazon.com

In other 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 transaction, the chief executive officer now directly owns 510,301 shares of the company’s stock, valued at approximately $71,952,441. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Douglas J. Herrington sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $141.00, for a total transaction 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 accessible through this link. Also, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $125.07, for a total transaction of $62,535.00. Following the transaction, the chief executive officer now owns 151,780 shares in the company, valued at approximately $18,983,124.60. 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 over the last quarter. Company insiders own 12.70% of the company’s stock.

Amazon.com Trading Down 0.6 %

Shares of AMZN stock opened at $137.27 on Wednesday. The stock has a 50-day moving average of $133.28 and a 200-day moving average of $116.83. 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 has a market cap of $1.42 trillion, a price-to-earnings ratio of 108.09, a PEG ratio of 1.83 and a beta of 1.24. Amazon.com, Inc. has a 1-year low of $81.43 and a 1-year high of $143.63.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company increased their price target on Amazon.com from $159.00 to $165.00 and gave the company an “overweight” rating in a research note on Friday, August 4th. TD Cowen increased their price target on shares of Amazon.com from $150.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Wolfe Research boosted their price objective on Amazon.com from $140.00 to $150.00 in a report on Monday, July 10th. JPMorgan Chase & Co. increased their target price on Amazon.com from $145.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, August 4th. Finally, CICC Research began coverage on Amazon.com in a report on Sunday, July 9th. They issued an “outperform” rating on the stock. Two research analysts have rated the stock with a hold rating and forty-eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $160.87.

View Our Latest Report on AMZN

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.