7,468 Shares in Amazon.com, Inc. $AMZN Bought by Avaii Wealth Management LLC

Key Points

• Avaii Wealth Management LLC acquired 7,468 Amazon shares worth approximately $1.78 million in the second quarter, making Amazon its 29th-largest holding at 0.5% of the portfolio.
• Institutional investors own 72.2% of Amazon, while several major funds—including Bank of New York Mellon and Mitsubishi UFJ Asset Management—also established or expanded positions.
• Amazon reported quarterly revenue of $200.61 billion and EPS of $5.75, beating estimates, while analysts maintain a “Moderate Buy” consensus with an average price target of $323.26 versus a recent price of $253.54.

Avaii Wealth Management LLC acquired a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,468 shares of the e-commerce giant's stock, valued at approximately $1,780,000. Amazon.com accounts for about 0.5% of Avaii Wealth Management LLC's holdings, making the stock its 29th biggest holding.

A number of other hedge funds have also bought and sold shares of the company. Auto Owners Insurance Co boosted its position in shares of Amazon.com by 27,376.7% in the 4th quarter. Auto Owners Insurance Co now owns 98,448,885 shares of the e-commerce giant's stock valued at $2,272,397,000 after purchasing an additional 98,090,585 shares during the period. Bank of New York Mellon Corp purchased a new stake in Amazon.com in the second quarter valued at approximately $16,341,405,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Amazon.com in the second quarter valued at approximately $6,631,466,000. Danske Bank A S purchased a new position in shares of Amazon.com during the second quarter worth approximately $2,494,705,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Amazon.com by 32.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 32,578,171 shares of the e-commerce giant's stock valued at $6,785,036,000 after acquiring an additional 7,924,943 shares during the period. Institutional investors own 72.20% of the company's stock.

Amazon.com Trading Down 1.3%

NASDAQ AMZN opened at $253.54 on Tuesday. The stock has a market capitalization of $2.73 trillion, a P/E ratio of 20.40, a P/E/G ratio of 1.98 and a beta of 1.44. Amazon.com, Inc. has a 52-week low of $196.00 and a 52-week high of $287.20. The firm has a 50-day moving average price of $255.75 and a 200 day moving average price of $244.72. The company has a quick ratio of 0.87, a current ratio of 1.03 and a debt-to-equity ratio of 0.23.

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

Amazon.com News Summary

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

Insider Buying and Selling

In other news, CEO Douglas J. Herrington sold 1,000 shares of the company's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $254.77, for a total transaction of $254,770.00. Following the transaction, the chief executive officer directly owned 475,681 shares of the company's stock, valued at $121,189,248.37. This represents a 0.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Shelley Reynolds sold 2,343 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $259.01, for a total transaction of $606,860.43. Following the completion of the transaction, the vice president owned 119,780 shares of the company's stock, valued at $31,024,217.80. This represents a 1.92% 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 have sold 71,589 shares of company stock valued at $18,568,785 in the last quarter. Corporate insiders own 8.90% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AMZN. Raymond James Financial reiterated an "outperform" rating and set a $390.00 price target (up from $280.00) on shares of Amazon.com in a research note on Friday, July 31st. Zacks Research upgraded shares of Amazon.com from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 4th. Monness Crespi & Hardt boosted their price target on Amazon.com from $315.00 to $330.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Roth Capital reaffirmed a "buy" rating and set a $325.00 price objective on shares of Amazon.com in a research note on Monday, August 3rd. Finally, TD Cowen reaffirmed a "buy" rating and set a $350.00 price objective (up from $340.00) on shares of Amazon.com in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, fifty-six have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Amazon.com currently has a consensus rating of "Moderate Buy" and an average price target of $323.26.

About Amazon.com

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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