8,363 Shares in Amazon.com, Inc. $AMZN Acquired by SSI Investment Management LLC

Key Points

• SSI Investment Management initiated a second-quarter Amazon position by purchasing 8,363 shares valued at approximately $1.99 million. Institutional investors collectively own 72.20% of Amazon’s shares.
• Wall Street remains bullish: analysts assign Amazon a consensus “Moderate Buy” rating with an average price target of $323.26, while several firms recently raised their targets.
• Amazon reported quarterly earnings of $5.75 per share and revenue of $200.61 billion, surpassing expectations and representing 19.6% year-over-year revenue growth. Separately, CEO Andy Jassy and CFO Brian Olsavsky sold shares under pre-arranged trading plans.

SSI Investment Management LLC bought a new position in Amazon.com, Inc. (NASDAQ:AMZN) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 8,363 shares of the e-commerce giant's stock, valued at approximately $1,993,000.

A number of other hedge funds have also added to or reduced their stakes in AMZN. Trust Asset Management LLC increased its position in Amazon.com by 3.3% during the second quarter. Trust Asset Management LLC now owns 107,563 shares of the e-commerce giant's stock valued at $26,000 after acquiring an additional 3,414 shares during the last quarter. Longfellow Investment Management Co. LLC bought a new position in Amazon.com in the second quarter valued at about $33,000. MilWealth Group LLC boosted its position in Amazon.com by 79.0% in the fourth quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant's stock worth $41,000 after purchasing an additional 79 shares during the last quarter. Lifetime Wealth Management P.C. purchased a new position in Amazon.com in the fourth quarter worth about $45,000. Finally, Prudent Man Investment Management Inc. grew its stake in shares of Amazon.com by 87.7% during the 4th quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant's stock valued at $53,000 after purchasing an additional 107 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Barclays reaffirmed an "overweight" rating and set a $365.00 price target (up from $330.00) on shares of Amazon.com in a research report on Friday, July 31st. Wedbush boosted their target price on shares of Amazon.com from $293.00 to $310.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. Morgan Stanley reaffirmed an "overweight" rating and set a $335.00 target price (up from $330.00) on shares of Amazon.com in a report on Friday, July 31st. BMO Capital Markets reiterated an "outperform" rating and set a $360.00 price target (up from $355.00) on shares of Amazon.com in a research note on Tuesday, July 28th. Finally, Citigroup reissued a "market outperform" rating on shares of Amazon.com in a research report on Friday, August 14th. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $323.26.

Amazon.com Stock Down 1.3%

Shares of AMZN opened at $253.54 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 1.03 and a debt-to-equity ratio of 0.23. The business has a fifty day moving average of $255.75 and a 200 day moving average of $244.72. The company has a market cap of $2.73 trillion, a PE 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.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its earnings results on Thursday, July 30th. The e-commerce giant reported $5.75 earnings per share for the quarter, beating the consensus estimate of $1.82 by $3.93. The business had revenue of $200.61 billion for 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 business's revenue for the quarter was up 19.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.68 earnings per share. On average, sell-side 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 Activity at Amazon.com

In related news, CFO Brian Olsavsky sold 6,172 shares of the stock in a transaction dated 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 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 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, CEO Andrew Jassy sold 20,000 shares of the firm's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $259.01, for a total transaction of $5,180,200.00. Following the completion of the sale, the chief executive officer directly owned 2,235,766 shares of the company's stock, valued at approximately $579,085,751.66. The trade was a 0.89% 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 71,589 shares of company stock worth $18,568,785 in the last three months. 8.90% of the stock is owned by insiders.

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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