Amazon.com, Inc. $AMZN Shares Sold by Northeast Investment Management

Key Points

• Northeast Investment Management reduced its Amazon stake by 1.3% in the first quarter, but still held 525,799 shares worth about $109.5 million, making AMZN its fourth-largest position.
• Several Amazon insiders sold shares recently, including SVP David Zapolsky and CEO Douglas J. Herrington, with insiders selling 195,774 shares worth $51.6 million over the last three months.
• Wall Street remains bullish on Amazon, with 57 analysts rating it a Buy and a consensus target price of $312.79, while the company also recently beat earnings expectations and posted 16.6% revenue growth year over year.

Northeast Investment Management lessened its position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 1.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 525,799 shares of the e-commerce giant's stock after selling 7,149 shares during the quarter. Amazon.com makes up 4.5% of Northeast Investment Management's investment portfolio, making the stock its 4th largest holding. Northeast Investment Management's holdings in Amazon.com were worth $109,508,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. MilWealth Group LLC lifted its position in shares of Amazon.com by 79.0% during 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 in the last quarter. Lifetime Wealth Management P.C. acquired a new position in shares of Amazon.com in the fourth quarter valued at approximately $45,000. Elkhorn Partners Limited Partnership increased its stake in Amazon.com by 900.0% during the 4th quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant's stock worth $46,000 after buying an additional 180 shares during the period. Fairway Wealth LLC increased its stake in Amazon.com by 95.6% during the 4th quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant's stock worth $51,000 after buying an additional 108 shares during the period. Finally, Prudent Man Investment Management Inc. lifted its holdings in 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 worth $53,000 after buying an additional 107 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Insider Buying and Selling at Amazon.com

In other news, SVP David Zapolsky sold 9,270 shares of Amazon.com stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $268.53, for a total value 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. The trade was a 18.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 27,500 shares of the company's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $275.00, for a total transaction of $7,562,500.00. Following the completion of the sale, the chief executive officer owned 471,361 shares of the company's stock, valued at approximately $129,624,275. This trade represents a 5.51% 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. In the last three months, insiders have sold 195,774 shares of company stock valued at $51,643,704. 8.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AMZN has been the subject of several recent research reports. New Street Research raised their price target on shares of Amazon.com from $280.00 to $350.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Morgan Stanley increased their price objective on Amazon.com from $300.00 to $330.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. HSBC lifted their target price on Amazon.com from $280.00 to $310.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Cantor Fitzgerald reissued an "overweight" rating and set a $330.00 target price (up from $280.00) on shares of Amazon.com in a research note on Thursday, April 30th. Finally, Weiss Ratings upgraded Amazon.com from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 6th. Fifty-seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $312.79.

More Amazon.com News

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

• Positive Sentiment: Amazon said its Leo satellite network has enough satellites to begin initial broadband service this year, creating a new growth avenue in space-based internet. Reuters: Amazon to start initial Leo internet service this year as network nears 400 satellites
• Positive Sentiment: Amazon is deepening its AI strategy by developing custom chips for consumer devices and expanding AWS AI engineering support, which could strengthen margins and enterprise adoption. CNBC: Amazon is designing its own AI chips for Echo, Fire TV and future devices
• Positive Sentiment: Prime Day sales reportedly rose to a record $26.4 billion, signaling strong e-commerce demand and improving sentiment ahead of quarterly results. Yahoo Finance/Reuters: Online Spending Rises 5.3% on First Day of Amazon’s Prime Day

Amazon.com Stock Up 0.4%

Shares of NASDAQ:AMZN opened at $242.67 on Friday. 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 twelve month low of $196.00 and a twelve month high of $278.56. The company has a market capitalization of $2.61 trillion, a PE ratio of 29.03, a P/E/G ratio of 1.80 and a beta of 1.46. The firm has a 50 day simple moving average of $254.82 and a 200-day simple moving average of $234.51.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings data 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 analyst estimates of $177.28 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The business's quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.59 earnings per share. On average, equities analysts predict that Amazon.com, Inc. will post 7.75 EPS for the current fiscal year.

Amazon.com 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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