Sowell Financial Services LLC increased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN – Free Report) by 1.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 226,048 shares of the e-commerce giant’s stock after buying an additional 3,226 shares during the quarter. Amazon.com makes up 1.8% of Sowell Financial Services LLC’s investment portfolio, making the stock its 9th largest holding. Sowell Financial Services LLC’s holdings in Amazon.com were worth $56,320,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Kendall Capital Management raised its position in shares of Amazon.com by 294.3% during the third quarter. Kendall Capital Management now owns 3,612 shares of the e-commerce giant’s stock valued at $900,000 after buying an additional 2,696 shares during the last quarter. Ascent Wealth Partners LLC grew its position in Amazon.com by 1.8% during the third quarter. Ascent Wealth Partners LLC now owns 49,525 shares of the e-commerce giant’s stock worth $12,339,000 after buying an additional 869 shares in the last quarter. Lorne Steinberg Wealth Management Inc. grew its position in Amazon.com by 0.4% during the third quarter. Lorne Steinberg Wealth Management Inc. now owns 51,931 shares of the e-commerce giant’s stock worth $12,939,000 after buying an additional 230 shares in the last quarter. Dudley Capital Management LLC increased its stake in Amazon.com by 2.5% during the third quarter. Dudley Capital Management LLC now owns 17,512 shares of the e-commerce giant’s stock valued at $4,363,000 after acquiring an additional 435 shares during the period. Finally, Nabity Jensen Investment Management Inc increased its stake in Amazon.com by 4.7% during the third quarter. Nabity Jensen Investment Management Inc now owns 9,731 shares of the e-commerce giant’s stock valued at $2,424,000 after acquiring an additional 441 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts have commented on AMZN shares. Barclays reaffirmed an “overweight” rating and issued a $365.00 price target (up from $330.00) on shares of Amazon.com in a report on Friday, July 31st. Zacks Research lowered Amazon.com from a “strong-buy” rating to a “hold” rating in a report on Monday, September 14th. HSBC restated a “buy” rating and set a $310.00 price objective on shares of Amazon.com in a research report on Friday, July 31st. Benchmark upped their target price on Amazon.com from $370.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Citizens Jmp cut their target price on Amazon.com from $315.00 to $275.00 and set a “market outperform” rating for the company in a research note on Friday, October 30th. Two analysts have rated the stock with a Strong Buy rating, fifty-five have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Amazon.com has an average rating of “Moderate Buy” and a consensus price target of $321.74.
Get Our Latest Stock Analysis on Amazon.com
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
Insiders Place Their Bets
In other news, CEO Andrew Jassy sold 20,000 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $259.01, for a total value of $5,180,200.00. Following the completion of the transaction, the chief executive officer directly owned 2,235,766 shares of the company’s stock, valued at approximately $579,085,751.66. This represents a 0.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew S. Garman sold 14,541 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $259.06, for a total value of $3,766,991.46. Following the transaction, the chief executive officer owned 17,794 shares of the company’s stock, valued at $4,609,713.64. This trade represents a 44.97% 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 worth $18,545,595 in the last 90 days. 8.90% of the stock is owned by corporate insiders.
Amazon.com Stock Performance
NASDAQ:AMZN opened at $259.30 on Monday. Amazon.com, Inc. has a 12-month low of $196.00 and a 12-month high of $287.20. The company has a quick ratio of 0.82, a current ratio of 0.99 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $2.80 trillion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 1.97 and a beta of 1.49. The firm has a 50-day moving average price of $253.96 and a 200 day moving average price of $243.57.
Amazon.com (NASDAQ:AMZN – Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The e-commerce giant reported $1.89 EPS for the quarter, missing analysts’ consensus estimates of $1.97 by ($0.08). The business had revenue of $201.94 billion for the quarter, compared to the consensus estimate of $202.22 billion. Amazon.com had a return on equity of 15.72% and a net margin of 16.90%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.95 EPS. Research analysts anticipate that Amazon.com, Inc. will post 7.80 earnings per share for the current fiscal year.
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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