Lewis Asset Management LLC Raises Stake in Amazon.com, Inc. $AMZN

Lewis Asset Management LLC grew its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 9.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,805 shares of the e-commerce giant’s stock after acquiring an additional 3,340 shares during the quarter. Amazon.com accounts for approximately 3.2% of Lewis Asset Management LLC’s portfolio, making the stock its 4th largest holding. Lewis Asset Management LLC’s holdings in Amazon.com were worth $7,874,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AMZN. Brighton Jones LLC grew its position in Amazon.com by 10.9% in the 4th quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant’s stock worth $885,478,000 after purchasing an additional 397,007 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in Amazon.com by 4.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant’s stock valued at $5,495,000 after buying an additional 986 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its position in shares of Amazon.com by 2.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant’s stock worth $442,481,000 after buying an additional 54,987 shares in the last quarter. Highview Capital Management LLC DE lifted its position in shares of Amazon.com by 5.5% during the 4th quarter. Highview Capital Management LLC DE now owns 28,975 shares of the e-commerce giant’s stock worth $6,357,000 after buying an additional 1,518 shares in the last quarter. Finally, Liberty Square Wealth Partners LLC purchased a new position in shares of Amazon.com in the 4th quarter worth approximately $2,153,000. Institutional investors own 72.20% of the company’s stock.

Amazon.com News Summary

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, opening a new growth opportunity in satellite internet. Reuters: Amazon to start initial Leo internet service this year as network nears 400 satellites
• Positive Sentiment: Amazon is expanding its AI strategy with custom device chips and broader AWS AI capabilities, which could support future margins and growth. CNBC: Amazon is designing its own AI chips for Echo, Fire TV and future devices
• Positive Sentiment: Prime Day-related reports pointed to strong online shopping demand, reinforcing confidence in Amazon’s retail momentum heading into earnings. Yahoo Finance/Reuters: Online Spending Rises 5.3% on First Day of Amazon’s Prime Day

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $242.67 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. The stock has a fifty day simple moving average of $254.57 and a two-hundred day simple moving average of $234.57. Amazon.com, Inc. has a 1-year low of $196.00 and a 1-year high of $278.56. The firm has a market cap of $2.61 trillion, a price-to-earnings ratio of 29.03, a price-to-earnings-growth ratio of 1.81 and a beta of 1.46.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $1.15. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The firm had revenue of $181.52 billion for the quarter, compared to analyst estimates of $177.28 billion. During the same period in the previous year, the company posted $1.59 earnings per share. The business’s revenue was up 16.6% on a year-over-year basis. Analysts anticipate that Amazon.com, Inc. will post 7.75 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Matthew S. Garman sold 15,467 shares of the business’s stock in a transaction dated 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 directly owned 14,159 shares in the company, valued at approximately $3,729,480.60. The trade was a 52.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Shelley Reynolds sold 2,363 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $262.38, for a total transaction of $620,003.94. Following the sale, the vice president directly owned 119,780 shares in the company, valued at approximately $31,427,876.40. This trade represents a 1.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 195,774 shares of company stock worth $51,643,704 in the last quarter. 8.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Maxim Group upped their target price on Amazon.com from $290.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Barclays reiterated an “overweight” rating on shares of Amazon.com in a report on Tuesday, June 9th. HSBC upped their price objective on Amazon.com from $280.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Mizuho raised their target price on Amazon.com from $315.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Finally, New Street Research lifted their target price on Amazon.com from $280.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Fifty-seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $312.79.

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.