Drive Wealth Management LLC Grows Holdings in Amazon.com, Inc. $AMZN

Key Points

• Drive Wealth Management LLC increased its stake in Amazon.com, Inc. by 16.9%, owning 36,066 shares worth approximately $6.86 million as of the latest filing.
• Insider Jeffrey P. Bezos sold 4.27 million shares of Amazon, which represents a 0.47% decrease in his ownership, totaling nearly $961 million from the sale.
• Amazon reported a quarterly revenue of $167.70 billion and an earnings per share of $1.68, surpassing analysts' expectations and reflecting a 13.3% increase from the previous year.

Drive Wealth Management LLC boosted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 16.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,066 shares of the e-commerce giant's stock after acquiring an additional 5,211 shares during the period. Amazon.com comprises 1.6% of Drive Wealth Management LLC's portfolio, making the stock its 14th largest holding. Drive Wealth Management LLC's holdings in Amazon.com were worth $6,862,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Prudent Man Investment Management Inc. acquired a new position in shares of Amazon.com in the fourth quarter valued at approximately $27,000. LSV Asset Management acquired a new position in Amazon.com in the 4th quarter valued at $35,000. Perritt Capital Management Inc raised its holdings in Amazon.com by 72.7% in the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock valued at $42,000 after acquiring an additional 80 shares during the last quarter. Cooksen Wealth LLC purchased a new position in shares of Amazon.com during the 1st quarter worth $36,000. Finally, Inlight Wealth Management LLC acquired a new stake in shares of Amazon.com during the first quarter worth $40,000. Institutional investors and hedge funds own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on AMZN shares. Jefferies Financial Group upped their target price on Amazon.com from $255.00 to $265.00 in a research note on Wednesday, July 16th. Pivotal Research lifted their price target on Amazon.com from $260.00 to $285.00 and gave the company a "buy" rating in a report on Friday, August 1st. Truist Financial increased their price objective on shares of Amazon.com from $226.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Wedbush raised their target price on shares of Amazon.com from $235.00 to $250.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Finally, Moffett Nathanson upped their price target on shares of Amazon.com from $250.00 to $253.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-six have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $262.87.

Amazon.com Trading Up 3.1%

AMZN stock traded up $6.89 during midday trading on Friday, reaching $228.84. 37,264,095 shares of the company's stock traded hands, compared to its average volume of 46,830,960. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.81. Amazon.com, Inc. has a fifty-two week low of $161.38 and a fifty-two week high of $242.52. The business has a 50-day moving average price of $222.63 and a two-hundred day moving average price of $208.26. The company has a market capitalization of $2.44 trillion, a P/E ratio of 34.88, a PEG ratio of 1.49 and a beta of 1.31.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 EPS for the quarter, beating analysts' consensus estimates of $1.31 by $0.37. The business had revenue of $167.70 billion for the quarter, compared to the consensus estimate of $161.80 billion. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The business's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.26 EPS. Amazon.com has set its Q3 2025 guidance at EPS. Equities research analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Activity at Amazon.com

In other news, insider Jeffrey P. Bezos sold 4,273,237 shares of the company's stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $224.81, for a total value of $960,666,409.97. Following the completion of the sale, the insider owned 897,722,088 shares of the company's stock, valued at $201,816,902,603.28. This represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 25,012,284 shares of company stock worth $5,656,976,492 in the last 90 days. Insiders own 9.70% of the company's stock.

Amazon.com Company Profile

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.