Amazon.com, Inc. $AMZN Stock: North Dakota State Investment Board Raises Holdings

Key Points

• North Dakota State Investment Board increased its Amazon stake by 3.9% in the third quarter, to 297,118 shares valued at about $74 million. Other institutional investors also reported increasing their holdings.
• Analysts’ consensus rating is “Moderate Buy,” with a consensus price target of $321.74; 55 analysts rate the stock Buy and three rate it Hold.
• Amazon’s latest quarterly results fell slightly short of estimates: EPS was $1.89 versus $1.97 expected, and revenue was $201.94 billion versus $202.22 billion expected. Revenue still grew 12.1% year over year.

North Dakota State Investment Board increased its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 3.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 297,118 shares of the e-commerce giant's stock after purchasing an additional 11,143 shares during the period. Amazon.com accounts for about 2.9% of North Dakota State Investment Board's holdings, making the stock its 5th biggest position. North Dakota State Investment Board's holdings in Amazon.com were worth $74,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Heritage Wealth Management Inc. CA boosted its holdings in shares of Amazon.com by 1.8% during the third quarter. Heritage Wealth Management Inc. CA now owns 6,657 shares of the e-commerce giant's stock worth $1,659,000 after purchasing an additional 115 shares during the last quarter. Stockman Wealth Management Inc. increased its stake in Amazon.com by 0.8% in the third quarter. Stockman Wealth Management Inc. now owns 98,046 shares of the e-commerce giant's stock valued at $24,428,000 after purchasing an additional 796 shares during the last quarter. SpringVest Wealth Management LLC increased its stake in Amazon.com by 55.6% in the third quarter. SpringVest Wealth Management LLC now owns 2,171 shares of the e-commerce giant's stock valued at $541,000 after purchasing an additional 776 shares during the last quarter. Petersen Hastings Wealth Advisors Inc. increased its stake in Amazon.com by 3.0% in the third quarter. Petersen Hastings Wealth Advisors Inc. now owns 4,086 shares of the e-commerce giant's stock valued at $1,018,000 after purchasing an additional 120 shares during the last quarter. Finally, AMI Investment Management Inc. lifted its position in Amazon.com by 23.6% during the third quarter. AMI Investment Management Inc. now owns 23,294 shares of the e-commerce giant's stock worth $5,804,000 after buying an additional 4,443 shares during the period. Hedge funds and other institutional investors own 72.20% of the company's stock.

Insider Activity at Amazon.com

In related news, SVP David Zapolsky sold 9,258 shares of the company's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $259.77, for a total transaction of $2,404,950.66. Following the completion of the sale, the senior vice president directly owned 41,190 shares of the company's stock, valued at approximately $10,699,926.30. This represents a 18.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 that occurred on 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 sale, the vice president directly owned 119,780 shares of the company's stock, valued at $31,024,217.80. This trade 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 sold 71,589 shares of company stock valued at $18,545,595 over the last quarter. Company insiders own 8.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Susquehanna reissued a "positive" rating on shares of Amazon.com in a research note on Friday, October 30th. Wolfe Research reaffirmed an "outperform" rating and set a $315.00 price objective on shares of Amazon.com in a research note on Friday, July 31st. Deutsche Bank reiterated a "buy" rating and set a $325.00 price objective (up from $315.00) on shares of Amazon.com in a report on Friday, July 31st. KeyCorp set a $345.00 target price on shares of Amazon.com and gave the stock an "overweight" rating in a research report on Friday, October 30th. Finally, Citigroup restated a "market outperform" rating on shares of Amazon.com in a report on Friday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, fifty-five have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $321.74.

Amazon.com Trading Down 0.3%

NASDAQ:AMZN traded down $0.78 on Friday, hitting $266.66. 31,035,709 shares of the stock were exchanged, compared to its average volume of 50,501,436. The stock has a market cap of $2.88 trillion, a PE ratio of 21.56, a PEG ratio of 2.03 and a beta of 1.49. The company has a current ratio of 0.99, a quick ratio of 0.82 and a debt-to-equity ratio of 0.28. The stock has a fifty day moving average of $254.82 and a 200-day moving average of $244.32. Amazon.com, Inc. has a fifty-two week low of $196.00 and a fifty-two week high of $287.20.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The e-commerce giant reported $1.89 EPS for the quarter, missing analysts' consensus estimates of $1.97 by ($0.08). The firm had revenue of $201.94 billion during the quarter, compared to analysts' expectations of $202.22 billion. Amazon.com had a return on equity of 15.72% and a net margin of 16.90%. The business's revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.95 earnings per share. As a group, equities analysts expect that Amazon.com, Inc. will post 7.80 earnings per share for the current fiscal year.

Top Amazon.com Stories

Investors following AMZN have been watching these stories:

• Positive Sentiment: Amazon remains an AI and cloud growth story: a recent investor article cited AWS revenue growth of 39% and projected growth above 40% in 2027 and 2028. Continued cloud momentum may support the investment case. The Motley Fool article
• Neutral Sentiment: Amazon updated Alexa’s shopping capabilities, but the report noted the stock weakened despite the changes, suggesting investors may want evidence of meaningful adoption or revenue impact. TipRanks article
• Neutral Sentiment: A planned launch of 40 Amazon Leo satellites could advance its satellite-internet service, although the launch itself does not establish the service’s eventual commercial returns. TipRanks article

Amazon.com Profile

Amazon.com, Inc. is a technology and e-commerce company founded by Jeff Bezos in 1994 as an online bookstore. It has since grown into a global business serving consumers, sellers, developers, enterprises and content creators. Amazon operates online stores and marketplaces, where it sells products directly and enables third-party sellers to reach customers. Its other businesses include Amazon Web Services, which provides cloud computing and related services; digital advertising; Prime memberships; and entertainment offerings such as streaming video and music.

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