35,492 Shares in Amazon.com, Inc. $AMZN Purchased by Palmer Knight Co

Palmer Knight Co bought a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 35,492 shares of the e-commerce giant's stock, valued at approximately $8,459,000. Amazon.com accounts for approximately 3.3% of Palmer Knight Co's holdings, making the stock its 14th largest position.

Several other large investors have also recently bought and sold shares of the stock. Longfellow Investment Management Co. LLC acquired a new position in shares of Amazon.com during the 2nd quarter valued at $33,000. MilWealth Group LLC raised its stake in shares of Amazon.com by 79.0% in 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. acquired a new stake in shares of Amazon.com in the fourth quarter valued at $45,000. Prudent Man Investment Management Inc. lifted its holdings in shares of Amazon.com by 87.7% in the fourth quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant's stock valued at $53,000 after buying an additional 107 shares during the period. Finally, Strategic Wealth Advisors LLC bought a new position in Amazon.com during the fourth quarter valued at about $68,000. Institutional investors and hedge funds own 72.20% of the company's stock.

Amazon.com Stock Performance

Amazon.com stock opened at $253.54 on Tuesday. The firm's 50 day simple moving average is $255.75 and its 200-day simple moving average is $244.72. The company has a market cap of $2.73 trillion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 1.98 and a beta of 1.44. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.03 and a quick ratio of 0.87. Amazon.com, Inc. has a fifty-two week low of $196.00 and a fifty-two week high of $287.20.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The e-commerce giant reported $5.75 EPS for the quarter, beating the consensus estimate of $1.82 by $3.93. The business had revenue of $200.61 billion during the quarter, compared to the consensus estimate of $197.03 billion. Amazon.com had a net margin of 17.44% and a return on equity of 18.00%. The firm's quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.68 EPS. As a group, equities research analysts predict that Amazon.com, Inc. will post 8.05 EPS for the current year.

Insider Buying and Selling

In other 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 completion of the sale, the chief financial officer directly owned 109,207 shares of the company's stock, valued at $28,427,674.17. This represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas Herrington sold 6,362 shares of the business's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $259.01, for a total transaction of $1,647,821.62. Following the transaction, the chief executive officer owned 476,681 shares in the company, valued at approximately $123,465,145.81. This represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 71,589 shares of company stock worth $18,568,785 over the last ninety days. 8.90% of the stock is currently owned by corporate insiders.

Trending Headlines about Amazon.com

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

• Positive Sentiment: Amazon’s advertising business is expanding beyond its own properties through a pilot partnership that lets select advertisers extend Amazon campaigns into ChatGPT. The initiative could broaden Amazon DSP’s reach and create a new revenue channel, although financial terms remain undisclosed. Amazon Is Becoming a Gateway to ChatGPT Ads
• Positive Sentiment: Zoox is entering San Francisco’s robotaxi market, increasing Amazon’s exposure to autonomous transportation and creating potential long-term upside if the service scales successfully. Amazon’s Zoox Enters San Francisco’s Crowded Robotaxi Market
• Positive Sentiment: Amazon completed a £4.242 billion sterling-denominated senior debt offering, supporting its U.K. operations and broader funding needs. The issuance improves liquidity flexibility but also adds to the company’s debt load. Amazon Boosts UK Presence With Sterling Debt Offering

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AMZN shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $320.00 price target (down from $330.00) on shares of Amazon.com in a research report on Friday, July 31st. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $338.00 price objective (up from $328.00) on shares of Amazon.com in a research note on Thursday, September 3rd. DA Davidson reissued a "neutral" rating and set a $250.00 target price on shares of Amazon.com in a research note on Friday, July 31st. Jefferies Financial Group restated a "buy" rating on shares of Amazon.com in a research report on Thursday, June 18th. Finally, Pivotal Research reaffirmed a "buy" rating and issued a $333.00 price target (up from $320.00) on shares of Amazon.com in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, fifty-six have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Amazon.com has an average rating of "Moderate Buy" and an average price target of $323.26.

Amazon.com Company Profile

Amazon.com, Inc is a global technology and e-commerce company that operates online marketplaces and provides a broad range of consumer products and services. Its retail business sells merchandise directly to customers and enables third-party sellers to offer products through Amazon's websites and applications. The company also operates physical stores and provides services such as digital content, subscriptions, and consumer devices, including Kindle and Echo products.

Amazon Web Services (AWS) provides cloud computing, storage, database, analytics, artificial intelligence, machine learning, and other technology services to businesses, governments, and organizations.

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