Amazon.com, Inc. $AMZN is United Bank's 9th Largest Position

Key Points

• United Bank boosted its stake in Amazon by 6.2% in Q1, buying 2,609 additional shares and bringing its total to 44,499 shares worth about $9.27 million. Amazon now ranks as the bank’s 9th-largest holding and makes up roughly 3.1% of its portfolio.
• Amazon reported strong quarterly results with EPS of $2.78 versus the $1.63 consensus and revenue of $181.52 billion versus expectations of $177.28 billion. Revenue rose 16.6% year over year, and analysts now expect full-year EPS of 7.75.
• Analyst sentiment remains broadly positive, with 57 Buy ratings and only three Holds, giving AMZN a consensus rating of Moderate Buy and an average price target of $312.91. The article also notes recent insider sales, including transactions by CEO Douglas J. Herrington and SVP David Zapolsky.

United Bank increased its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 6.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,499 shares of the e-commerce giant's stock after purchasing an additional 2,609 shares during the period. Amazon.com makes up approximately 3.1% of United Bank's portfolio, making the stock its 9th biggest holding. United Bank's holdings in Amazon.com were worth $9,268,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. MilWealth Group LLC raised its position in shares of Amazon.com by 79.0% during the 4th quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant's stock valued at $41,000 after buying an additional 79 shares in the last quarter. Lifetime Wealth Management P.C. purchased a new position in Amazon.com in the fourth quarter worth $45,000. Elkhorn Partners Limited Partnership grew its position in Amazon.com by 900.0% in the fourth quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant's stock worth $46,000 after acquiring an additional 180 shares in the last quarter. Fairway Wealth LLC increased its stake in Amazon.com by 95.6% in the fourth quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant's stock valued at $51,000 after acquiring an additional 108 shares during the last quarter. Finally, Prudent Man Investment Management Inc. increased its stake in 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 acquiring an additional 107 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Amazon.com news, CEO Douglas J. Herrington sold 27,500 shares of the company's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $275.00, for a total value of $7,562,500.00. Following the sale, the chief executive officer owned 471,361 shares in the company, valued at approximately $129,624,275. This represents a 5.51% decrease in their ownership of the stock. The sale 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, SVP David Zapolsky sold 9,270 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $268.53, for a total transaction of $2,489,273.10. Following the transaction, the senior vice president directly owned 41,190 shares of the company's stock, valued at $11,060,750.70. This represents a 18.37% 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 140,425 shares of company stock worth $37,715,464 over the last 90 days. Corporate insiders own 8.90% of the company's stock.

Amazon.com Price Performance

AMZN stock opened at $232.11 on Friday. The stock has a market capitalization of $2.50 trillion, a price-to-earnings ratio of 27.76, a PEG ratio of 1.75 and a beta of 1.46. The firm's 50-day moving average price is $248.26 and its two-hundred day moving average price is $236.32. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. Amazon.com, Inc. has a 12-month low of $196.00 and a 12-month high of $278.56.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $1.15. The company had revenue of $181.52 billion for the quarter, compared to analysts' expectations of $177.28 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.Amazon.com's quarterly revenue was up 16.6% on a year-over-year basis. During the same period last year, the firm earned $1.59 earnings per share. As a group, equities analysts predict that Amazon.com, Inc. will post 7.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AMZN shares. Citigroup reaffirmed a "market outperform" rating on shares of Amazon.com in a research note on Wednesday, July 15th. Scotiabank reiterated an "outperform" rating and set a $325.00 price objective (up from $275.00) on shares of Amazon.com in a research report on Thursday, April 30th. Maxim Group raised their price objective on Amazon.com from $290.00 to $315.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Arete Research boosted their target price on Amazon.com from $301.00 to $310.00 and gave the stock a "buy" rating in a research report on Monday, May 18th. Finally, Royal Bank Of Canada reaffirmed a "buy" rating on shares of Amazon.com in a research note on Tuesday, June 16th. Fifty-seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Amazon.com currently has an average rating of "Moderate Buy" and a consensus price target of $312.91.

Key Headlines Impacting Amazon.com

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 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.

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