Teachers Retirement System of The State of Kentucky Acquires 16,517 Shares of Amazon.com, Inc. $AMZN

Teachers Retirement System of The State of Kentucky increased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.0% in the first quarter, Holdings Channel reports. The firm owned 1,692,462 shares of the e-commerce giant’s stock after acquiring an additional 16,517 shares during the period. Amazon.com makes up 2.7% of Teachers Retirement System of The State of Kentucky’s portfolio, making the stock its 5th biggest position. Teachers Retirement System of The State of Kentucky’s holdings in Amazon.com were worth $352,490,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in AMZN. Brighton Jones LLC grew its stake in shares of Amazon.com by 10.9% in the fourth quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant’s stock valued at $885,478,000 after buying an additional 397,007 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in Amazon.com by 4.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant’s stock worth $5,495,000 after acquiring an additional 986 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its position in 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 acquiring an additional 54,987 shares in the last quarter. Highview Capital Management LLC DE boosted its holdings in Amazon.com by 5.5% in 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 acquiring an additional 1,518 shares during the period. Finally, Liberty Square Wealth Partners LLC purchased a new position in Amazon.com in the 4th quarter worth approximately $2,153,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AMZN shares. UBS Group set a $315.00 price objective on shares of Amazon.com in a research note on Monday, June 1st. Stifel Nicolaus set a $319.00 target price on shares of Amazon.com and gave the company a “buy” rating in a research note on Thursday, April 30th. Benchmark raised their price target on shares of Amazon.com from $275.00 to $370.00 and gave the company a “buy” rating in a report on Thursday, April 30th. HSBC raised their price target on shares of Amazon.com from $280.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Truist Financial boosted their price objective on shares of Amazon.com from $310.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Fifty-seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $312.91.

Amazon.com News Roundup

Here are the key news stories impacting Amazon.com this week:

• Positive Sentiment: Options data and several analyst/commentary pieces suggest traders expect a post-earnings move higher, and multiple firms remain bullish on AMZN heading into the July 30 report. Ahead of Amazon Earnings, Here’s What Barchart Data Says Comes Next for AMZN Stock
• Positive Sentiment: India eased e-commerce export rules, which is a win for Amazon’s international marketplace ambitions and could support long-term growth. India relaxes e-commerce investment rules for exports in win for Amazon
• Positive Sentiment: Several bullish research notes continue to frame AWS, custom silicon, and Amazon’s AI buildout as long-term growth drivers, with some investors arguing the capex surge should ultimately strengthen Amazon’s competitive moat. Amazon: Why The CapEx Surge Makes Me More Bullish, Not Less

Amazon.com Stock Down 0.7%

AMZN stock opened at $232.11 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 firm has a 50 day simple moving average of $248.26 and a 200-day simple moving average of $236.32. The company has a market capitalization of $2.50 trillion, a P/E ratio of 27.76, a PEG ratio of 1.74 and a beta of 1.46. Amazon.com, Inc. has a twelve month low of $196.00 and a twelve month high of $278.56.

Amazon.com (NASDAQ:AMZN) last posted its quarterly 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 net margin of 12.22% and a return on equity of 19.92%. The firm had revenue of $181.52 billion for the quarter, compared to analysts’ expectations of $177.28 billion. During the same period in the prior year, the company posted $1.59 earnings per share. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. On average, equities research analysts predict that Amazon.com, Inc. will post 7.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Matthew S. Garman sold 15,467 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were 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. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew R. Jassy sold 20,000 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $263.42, for a total transaction of $5,268,400.00. Following the transaction, the chief executive officer directly owned 2,205,766 shares in the company, valued at $581,042,879.72. The trade was a 0.90% 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. In the last three months, insiders have sold 140,425 shares of company stock worth $37,715,464. 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.