Magnus Financial Group LLC Sells 38,877 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Oct 10th, 2023

Magnus Financial Group LLC decreased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 38.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,431 shares of the e-commerce giant’s stock after selling 38,877 shares during the quarter. Amazon.com accounts for approximately 1.2% of Magnus Financial Group LLC’s investment portfolio, making the stock its 21st largest position. Magnus Financial Group LLC’s holdings in Amazon.com were worth $8,139,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AMZN. Leavell Investment Management Inc. lifted its holdings in shares of Amazon.com by 8.7% in the second quarter. Leavell Investment Management Inc. now owns 55,990 shares of the e-commerce giant’s stock worth $7,299,000 after acquiring an additional 4,466 shares during the last quarter. Kennedy Investment Group lifted its holdings in shares of Amazon.com by 1.7% in the second quarter. Kennedy Investment Group now owns 65,082 shares of the e-commerce giant’s stock worth $8,484,000 after acquiring an additional 1,109 shares during the last quarter. Eudaimonia Advisors LLC lifted its holdings in shares of Amazon.com by 6.9% in the second quarter. Eudaimonia Advisors LLC now owns 18,571 shares of the e-commerce giant’s stock worth $2,421,000 after acquiring an additional 1,193 shares during the last quarter. Aspiriant LLC lifted its holdings in shares of Amazon.com by 3.1% in the second quarter. Aspiriant LLC now owns 28,737 shares of the e-commerce giant’s stock worth $3,746,000 after acquiring an additional 862 shares during the last quarter. Finally, CIC Wealth LLC lifted its holdings in shares of Amazon.com by 2.0% in the second quarter. CIC Wealth LLC now owns 50,237 shares of the e-commerce giant’s stock worth $6,549,000 after acquiring an additional 1,009 shares during the last quarter. Institutional investors own 57.96% of the company’s stock.

Insider Activity at Amazon.com

In related news, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $129.48, for a total value of $64,740.00. Following the sale, the chief executive officer now directly owns 149,780 shares in the company, valued at approximately $19,393,514.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Douglas J. Herrington sold 4,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $127.20, for a total transaction of $508,800.00. Following the sale, the chief executive officer now directly owns 522,316 shares in the company, valued at $66,438,595.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $129.48, for a total value of $64,740.00. Following the sale, the chief executive officer now owns 149,780 shares in the company, valued at $19,393,514.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,408,145 shares of company stock worth $55,144,443. Company insiders own 12.70% of the company’s stock.

Wall Street Analyst Weigh In

AMZN has been the subject of a number of research reports. Argus reissued a “buy” rating and issued a $165.00 target price on shares of Amazon.com in a report on Wednesday, September 27th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $160.00 price objective on shares of Amazon.com in a research note on Friday, September 22nd. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $165.00 price objective on shares of Amazon.com in a research note on Thursday, September 21st. Mizuho reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Amazon.com in a research note on Wednesday, September 27th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $175.00 price objective on shares of Amazon.com in a research note on Monday, October 2nd. Three research analysts have rated the stock with a hold rating and forty-eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.30.

View Our Latest Research Report on Amazon.com

Amazon.com Trading Up 0.2 %

Shares of Amazon.com stock opened at $128.26 on Tuesday. Amazon.com, Inc. has a 52-week low of $81.43 and a 52-week high of $145.86. The stock’s 50-day simple moving average is $134.54 and its 200 day simple moving average is $123.24. The stock has a market capitalization of $1.32 trillion, a P/E ratio of 100.99, a P/E/G ratio of 1.69 and a beta of 1.24. 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 announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $131.54 billion. As a group, research analysts anticipate that Amazon.com, Inc. will post 2.23 EPS for the current year.

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.