Raymond James Financial Services Advisors Inc. Boosts Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Oct 23rd, 2023

Raymond James Financial Services Advisors Inc. boosted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,708,109 shares of the e-commerce giant’s stock after acquiring an additional 44,604 shares during the period. Amazon.com accounts for about 1.1% of Raymond James Financial Services Advisors Inc.’s portfolio, making the stock its 8th biggest position. Raymond James Financial Services Advisors Inc.’s holdings in Amazon.com were worth $613,749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in AMZN. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Amazon.com in the 2nd quarter valued at $123,733,000. Meitav Investment House Ltd. boosted its holdings in shares of Amazon.com by 3.3% during the 2nd quarter. Meitav Investment House Ltd. now owns 636,652 shares of the e-commerce giant’s stock valued at $81,543,000 after acquiring an additional 20,574 shares in the last quarter. Golden State Equity Partners boosted its holdings in shares of Amazon.com by 162.4% during the 2nd quarter. Golden State Equity Partners now owns 47,315 shares of the e-commerce giant’s stock valued at $6,168,000 after acquiring an additional 29,281 shares in the last quarter. Next Level Private LLC acquired a new stake in shares of Amazon.com during the 2nd quarter valued at $1,044,000. Finally, Mayfair Advisory Group LLC boosted its holdings in shares of Amazon.com by 12.0% during the 1st quarter. Mayfair Advisory Group LLC now owns 4,561 shares of the e-commerce giant’s stock valued at $468,000 after acquiring an additional 488 shares in the last quarter. Institutional investors own 57.96% of the company’s stock.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $126.64, for a total transaction of $63,320.00. Following the completion of the transaction, the chief executive officer now owns 105,520 shares in the company, valued at approximately $13,363,052.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $126.64, for a total value of $63,320.00. Following the transaction, the chief executive officer now owns 105,520 shares in the company, valued at approximately $13,363,052.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas J. Herrington sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $127.20, for a total value of $508,800.00. Following the completion of the transaction, the chief executive officer now owns 522,316 shares in the company, valued at approximately $66,438,595.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,408,145 shares of company stock worth $55,143,023. Insiders own 12.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on AMZN. Susquehanna raised their price objective on Amazon.com from $150.00 to $185.00 and gave the company a “positive” rating in a report on Friday, August 4th. StockNews.com raised Amazon.com from a “hold” rating to a “buy” rating in a report on Friday, October 13th. Rosenblatt Securities raised Amazon.com from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $111.00 to $184.00 in a report on Friday, August 4th. Truist Financial cut their target price on Amazon.com from $176.00 to $174.00 and set a “buy” rating on the stock in a report on Tuesday, October 17th. Finally, Loop Capital lifted their target price on Amazon.com from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, August 23rd. Two equities research analysts have rated the stock with a hold rating and forty-nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $165.21.

Check Out Our Latest Stock Analysis on Amazon.com

Amazon.com Price Performance

AMZN stock opened at $125.17 on Monday. The company has a market capitalization of $1.29 trillion, a P/E ratio of 98.56, a price-to-earnings-growth ratio of 1.90 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, Inc. has a 52-week low of $81.43 and a 52-week high of $145.86. The business has a 50-day simple moving average of $133.41 and a two-hundred day simple moving average of $125.09.

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, beating analysts’ consensus estimates of $0.34 by $0.29. The business had revenue of $134.38 billion during the quarter, compared to the consensus estimate of $131.54 billion. Amazon.com had a return on equity of 9.14% and a net margin of 2.43%. Research analysts expect that Amazon.com, Inc. will post 2.23 EPS for the current fiscal 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.