GHP Investment Advisors Inc. boosted its position in Amazon.com, Inc. (NASDAQ:AMZN) by 223.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 25,305 shares of the e-commerce giant’s stock after acquiring an additional 17,484 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Amazon.com were worth $5,270,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MilWealth Group LLC grew its stake in Amazon.com by 79.0% during the 4th quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant’s stock valued at $41,000 after purchasing an additional 79 shares in the last quarter. Lifetime Wealth Management P.C. acquired a new position in shares of Amazon.com in the 4th quarter valued at approximately $45,000. Elkhorn Partners Limited Partnership boosted its stake in shares of Amazon.com by 900.0% during the 4th quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant’s stock valued at $46,000 after buying an additional 180 shares during the last quarter. Fairway Wealth LLC boosted its stake in shares of Amazon.com by 95.6% during the 4th quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant’s stock valued at $51,000 after buying an additional 108 shares during the last quarter. Finally, Prudent Man Investment Management Inc. grew its position in shares of Amazon.com by 87.7% during the fourth quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant’s stock worth $53,000 after buying an additional 107 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.
Key Stories Impacting Amazon.com
Here are the key news stories impacting Amazon.com this week:
- Positive Sentiment: Amazon said its Leo satellite network has enough satellites to begin initial broadband service this year, creating a new growth avenue in space-based internet. Reuters: Amazon to start initial Leo internet service this year as network nears 400 satellites
- Positive Sentiment: Amazon is deepening its AI strategy by developing custom chips for consumer devices and expanding AWS AI engineering support, which could strengthen margins and enterprise adoption. CNBC: Amazon is designing its own AI chips for Echo, Fire TV and future devices
- Positive Sentiment: Prime Day sales reportedly rose to a record $26.4 billion, signaling strong e-commerce demand and improving sentiment ahead of quarterly results. Yahoo Finance/Reuters: Online Spending Rises 5.3% on First Day of Amazon’s Prime Day
Amazon.com Stock Up 0.4%
Amazon.com (NASDAQ:AMZN – Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 EPS for the quarter, beating the consensus estimate of $1.63 by $1.15. The business had revenue of $181.52 billion during the quarter, compared to analyst estimates of $177.28 billion. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The company’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.59 EPS. Equities analysts anticipate that Amazon.com, Inc. will post 7.75 EPS for the current year.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on AMZN. Arete Research lifted their price target on shares of Amazon.com from $301.00 to $310.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Maxim Group raised their price objective on shares of Amazon.com from $290.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. TD Securities raised shares of Amazon.com to a “buy” rating in a research report on Monday, April 13th. Piper Sandler set a $330.00 target price on shares of Amazon.com in a research note on Thursday, June 11th. Finally, Bank of America lifted their price target on Amazon.com from $298.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Fifty-seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Amazon.com currently has a consensus rating of “Moderate Buy” and an average price target of $312.79.
Read Our Latest Report on AMZN
Insider Buying and Selling
In related news, CEO Matthew S. Garman sold 15,467 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $263.40, for a total value of $4,074,007.80. Following the sale, the chief executive officer owned 14,159 shares of the company’s stock, valued at approximately $3,729,480.60. This trade represents a 52.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 27,500 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $275.00, for a total value of $7,562,500.00. Following the transaction, the chief executive officer owned 471,361 shares of the company’s stock, valued at approximately $129,624,275. The trade was a 5.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 195,774 shares of company stock valued at $51,643,704. 8.90% of the stock is currently owned by insiders.
About Amazon.com
Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.
Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.
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