Royal Fund Management LLC raised its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN – Free Report) by 47.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,873 shares of the e-commerce giant’s stock after acquiring an additional 15,317 shares during the period. Amazon.com makes up 0.9% of Royal Fund Management LLC’s holdings, making the stock its 29th biggest holding. Royal Fund Management LLC’s holdings in Amazon.com were worth $11,928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also made changes to their positions in the company. TOP Private Wealth LLC. purchased a new stake in Amazon.com in the second quarter valued at approximately $29,000. Bard Associates Inc. purchased a new position in shares of Amazon.com during the second quarter worth $32,000. Longfellow Investment Management Co. LLC purchased a new position in shares of Amazon.com during the second quarter worth $33,000. Atomic Invest LLC grew its stake in shares of Amazon.com by 41.2% in the second quarter. Atomic Invest LLC now owns 168 shares of the e-commerce giant’s stock valued at $40,000 after buying an additional 49 shares in the last quarter. Finally, Strategic Wealth Advisors LLC acquired a new stake in shares of Amazon.com in the second quarter valued at $68,000. 72.20% of the stock is owned by hedge funds and other institutional investors.
Amazon.com News Roundup
Here are the key news stories impacting Amazon.com this week:
- Positive Sentiment: AWS growth could be a major long-term catalyst. CEO Andy Jassy sees AWS potentially becoming a $1 trillion business over the next decade, with strong AI demand supporting rapid growth. That outlook may help reassure investors that Amazon’s large infrastructure investments can generate substantial future revenue. Article: Amazon’s CEO Andy Jassy Just Announced Huge News for Amazon Investors
- Positive Sentiment: Advertising remains another growth engine. Amazon’s ad revenue grew 12% in the latest quarter, and management expects high-teens growth next, offering a potential boost beyond retail and cloud. Article: Not Alphabet. Not Meta. This Is the Digital Advertising Stock I’d Buy Right Now
- Neutral Sentiment: Amazon is testing text-based shopping with Alexa for selected U.S. customers. The AI assistant can help find products, build carts and complete purchases; the feature could improve shopping convenience, though its impact on sales is not yet clear. Article: Amazon rolls out text-based shopping through Alexa
- Negative Sentiment: Spending and cash-flow concerns remain a near-term overhang. Despite record operating margins, investors are scrutinizing the cash required for Amazon’s AI and data-center buildout. Its latest quarterly EPS and revenue also came in slightly below consensus estimates. Article: Amazon Just Delivered a Record-Breaking Quarter. But There’s One Number Investors Shouldn’t Ignore
- Negative Sentiment: Potential data-center rules could raise costs. Midterm election results have increased attention on restrictions that could require Amazon and other tech companies to pay more of the power and grid costs associated with their data centers, potentially complicating expansion plans. Article: Microsoft and Google Face a New Bill as Data Centers Have to Pay Their Own Costs
Analyst Ratings Changes
Several equities research analysts recently issued reports on AMZN shares. Wolfe Research reiterated an “outperform” rating and issued a $315.00 price objective on shares of Amazon.com in a report on Friday, July 31st. BMO Capital Markets restated an “outperform” rating on shares of Amazon.com in a report on Tuesday, October 20th. Yorkville Ives started coverage on Amazon.com in a research report on Monday, October 19th. They issued an “outperform” rating and a $300.00 target price for the company. Pivotal Research reiterated a “buy” rating and set a $333.00 price target (up from $320.00) on shares of Amazon.com in a research note on Friday, July 31st. Finally, Susquehanna reissued a “positive” rating on shares of Amazon.com in a research report on Friday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fifty-five have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $321.74.
Amazon.com Stock Down 0.3%
Shares of NASDAQ:AMZN traded down $0.91 on Friday, hitting $259.30. 42,467,151 shares of the company’s stock were exchanged, compared to its average volume of 42,636,872. The firm’s 50-day moving average is $253.96 and its 200 day moving average is $243.57. The company has a market capitalization of $2.80 trillion, a PE ratio of 20.96, a P/E/G ratio of 1.86 and a beta of 1.49. Amazon.com, Inc. has a 1-year low of $196.00 and a 1-year high of $287.20. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.82 and a current ratio of 0.99.
Amazon.com (NASDAQ:AMZN – Get Free Report) last issued its earnings results on Thursday, October 29th. The e-commerce giant reported $1.89 earnings per share for the quarter, missing the consensus estimate of $1.97 by ($0.08). Amazon.com had a return on equity of 15.72% and a net margin of 16.90%. The business had revenue of $201.94 billion for the quarter, compared to analyst estimates of $202.22 billion. During the same period last year, the business posted $1.95 EPS. Amazon.com’s revenue was up 12.1% on a year-over-year basis. Sell-side analysts predict that Amazon.com, Inc. will post 7.80 EPS for the current year.
Insider Transactions at Amazon.com
In other Amazon.com news, CFO Brian Olsavsky sold 6,172 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $260.31, for a total value of $1,606,633.32. Following the transaction, the chief financial officer directly owned 109,207 shares in the company, valued at $28,427,674.17. This represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP David Zapolsky sold 9,258 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $259.77, for a total transaction of $2,404,950.66. Following the sale, the senior vice president directly owned 41,190 shares in the company, valued at approximately $10,699,926.30. The trade was a 18.35% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 71,589 shares of company stock valued at $18,545,595 over the last three months. 8.90% of the stock is owned by corporate insiders.
Amazon.com Company Profile
Amazon.com, Inc is a technology and e-commerce company founded by Jeff Bezos in 1994 as an online bookstore. It has since grown into a global business serving consumers, sellers, developers, enterprises and content creators.
Amazon operates online stores and marketplaces, where it sells products directly and enables third-party sellers to reach customers. Its other businesses include Amazon Web Services, which provides cloud computing and related services; digital advertising; Prime memberships; and entertainment offerings such as streaming video and music.
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