Acorn Financial Advisory Services Inc. ADV Grows Position in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by on Oct 13th, 2023

Acorn Financial Advisory Services Inc. ADV lifted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN – Free Report) by 4.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,303 shares of the e-commerce giant’s stock after buying an additional 1,421 shares during the period. Amazon.com makes up 0.7% of Acorn Financial Advisory Services Inc. ADV’s portfolio, making the stock its 17th biggest position. Acorn Financial Advisory Services Inc. ADV’s holdings in Amazon.com were worth $4,211,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of AMZN. Bridgefront Capital LLC purchased a new position in Amazon.com in the first quarter worth about $228,000. Krane Funds Advisors LLC raised its stake in shares of 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 buying an additional 55 shares during the period. Range Financial Group LLC bought a new position in shares of Amazon.com in the first quarter worth about $258,000. My Personal CFO LLC bought a new position in shares of Amazon.com in the first quarter worth about $261,000. Finally, Worth Asset Management LLC bought a new position in shares of Amazon.com in the first quarter worth about $191,000. 57.96% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $129.48, for a total value of $64,740.00. Following the completion of the transaction, the chief executive officer now directly owns 149,780 shares of the company’s stock, valued at approximately $19,393,514.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $129.48, for a total value of $64,740.00. Following the completion of the transaction, the chief executive officer now directly owns 149,780 shares of the company’s stock, valued at approximately $19,393,514.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Shelley Reynolds sold 3,100 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 1,408,645 shares of company stock worth $55,207,763. 12.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AMZN has been the topic of several recent research reports. Redburn Partners raised their price objective on Amazon.com from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, August 11th. Canaccord Genuity Group raised their price objective on Amazon.com from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Amazon.com in a research note on Thursday, September 28th. Roth Mkm raised their price objective on Amazon.com from $155.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Finally, Canaccord Genuity Group lifted their target price on Amazon.com from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Two analysts have rated the stock with a hold rating and forty-nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $161.94.

Check Out Our Latest Analysis on Amazon.com

Amazon.com Price Performance

AMZN opened at $132.33 on Friday. Amazon.com, Inc. has a 52-week low of $81.43 and a 52-week high of $145.86. The stock has a market cap of $1.37 trillion, a P/E ratio of 104.20, a PEG ratio of 1.70 and a beta of 1.24. The business has a fifty day moving average of $134.63 and a 200 day moving average of $123.58. The company has a quick ratio of 0.70, a current ratio of 0.95 and a debt-to-equity ratio of 0.37.

Amazon.com (NASDAQ:AMZN – Get Free Report) last issued its earnings results on Thursday, August 3rd. The e-commerce giant reported $0.63 earnings per share for the quarter, topping 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 business had revenue of $134.38 billion during the quarter, compared to analysts’ expectations of $131.54 billion. As a group, sell-side analysts anticipate that Amazon.com, Inc. will post 2.23 EPS for the current 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.

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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