Waterway Wealth Management LLC lifted its position in Amazon.com, Inc. (NASDAQ:AMZN) by 28.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,194 shares of the e-commerce giant’s stock after acquiring an additional 6,754 shares during the quarter. Amazon.com makes up approximately 1.2% of Waterway Wealth Management LLC’s portfolio, making the stock its 16th largest position. Waterway Wealth Management LLC’s holdings in Amazon.com were worth $6,289,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. MilWealth Group LLC lifted its position in shares of Amazon.com by 79.0% during the 4th quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant’s stock worth $41,000 after buying an additional 79 shares in the last quarter. Lifetime Wealth Management P.C. purchased a new position in shares of Amazon.com in the 4th quarter worth approximately $45,000. Elkhorn Partners Limited Partnership grew its holdings in shares of Amazon.com by 900.0% in the fourth quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant’s stock valued at $46,000 after acquiring an additional 180 shares in the last quarter. Fairway Wealth LLC increased its position in shares of Amazon.com by 95.6% during the fourth quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant’s stock valued at $51,000 after acquiring an additional 108 shares during the last quarter. Finally, Prudent Man Investment Management Inc. increased 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 valued at $53,000 after acquiring an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.
Amazon.com News Roundup
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
Analysts Set New Price Targets
View Our Latest Research Report on Amazon.com
Amazon.com Trading Up 0.4%
Shares of Amazon.com stock opened at $242.67 on Friday. Amazon.com, Inc. has a 52-week low of $196.00 and a 52-week high of $278.56. The stock’s 50-day simple moving average is $254.82 and its 200 day simple moving average is $234.51. The stock has a market capitalization of $2.61 trillion, a P/E ratio of 29.03, a P/E/G ratio of 1.80 and a beta of 1.46. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.18.
Amazon.com (NASDAQ:AMZN – Get Free Report) last issued its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $1.15. The firm 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 quarter last year, the business earned $1.59 earnings per share. As a group, research analysts anticipate that Amazon.com, Inc. will post 7.75 EPS for the current year.
Insider Buying and Selling at Amazon.com
In related news, SVP David Zapolsky sold 9,270 shares of Amazon.com stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $268.53, for a total value of $2,489,273.10. Following the completion of the transaction, the senior vice president directly owned 41,190 shares in the company, valued at approximately $11,060,750.70. The trade was a 18.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew S. Garman sold 15,467 shares of the stock in a transaction 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 in the company, valued at approximately $3,729,480.60. This represents a 52.21% decrease in their position. 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. Insiders sold a total of 195,774 shares of company stock valued at $51,643,704 in the last quarter. Corporate insiders own 8.90% of the company’s stock.
Amazon.com Company Profile
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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