Artisan Partners Limited Partnership Grows Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Sep 7th, 2023

Artisan Partners Limited Partnership grew its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 15.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,493,524 shares of the e-commerce giant’s stock after purchasing an additional 719,494 shares during the quarter. Artisan Partners Limited Partnership owned approximately 0.05% of Amazon.com worth $567,426,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AMZN. Bridgefront Capital LLC bought a new position in shares of Amazon.com during the 1st quarter worth $228,000. Krane Funds Advisors LLC lifted its stake in 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 position in Amazon.com during the 1st quarter worth about $258,000. My Personal CFO LLC purchased a new position in Amazon.com during the 1st quarter valued at about $261,000. Finally, Worth Asset Management LLC bought a new stake in shares of Amazon.com in the 1st quarter valued at about $191,000. 57.96% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $18,983,124.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, VP Shelley Reynolds sold 3,100 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 119,780 shares in the company, valued at $16,034,948.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Adam Selipsky sold 500 shares of the stock in a transaction that occurred on Wednesday, June 21st. The stock was 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 of the company’s stock, valued at $18,983,124.60. The disclosure for this sale can be found here. Insiders sold 1,365,829 shares of company stock valued at $49,002,857 in the last three months. 12.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AMZN has been the topic of several research reports. UBS Group lifted their price objective on shares of Amazon.com from $150.00 to $175.00 and gave the company a “buy” rating in a report on Friday, August 4th. Truist Financial lifted their price target on Amazon.com from $144.00 to $176.00 and gave the company a “buy” rating in a report on Friday, August 4th. Credit Suisse Group upped their price objective on Amazon.com from $176.00 to $189.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Piper Sandler lifted their target price on Amazon.com from $175.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, August 24th. Finally, Mizuho increased their price target on shares of Amazon.com from $160.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Two equities research analysts have rated the stock with a hold rating and forty-eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $160.87.

Get Our Latest Research Report on Amazon.com

Amazon.com Trading Down 1.4 %

Shares of Amazon.com stock opened at $135.36 on Thursday. The firm’s 50-day moving average price is $133.41 and its 200 day moving average price is $116.96. 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 firm has a market capitalization of $1.40 trillion, a PE ratio of 106.58, a P/E/G ratio of 1.83 and a beta of 1.24. Amazon.com, Inc. has a twelve month low of $81.43 and a twelve month high of $143.63.

Amazon.com (NASDAQ:AMZN – Get Free Report) last posted its quarterly 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 business had revenue of $134.38 billion during the quarter, compared to analyst estimates of $131.54 billion. On average, sell-side analysts predict that Amazon.com, Inc. will post 2.23 EPS for the current fiscal year.

Amazon.com Company 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.