Black Diamond Financial LLC Acquires 2,024 Shares of Amazon.com, Inc. $AMZN

Key Points

• Black Diamond Financial increased its Amazon stake by 14.4% in the third quarter, adding 2,024 shares to hold 16,058 shares valued at about $4 million.
• Analyst sentiment is broadly positive: 57 analysts rate Amazon Buy or Strong Buy, with an average price target of $321.74; institutional investors own 72.2% of the stock.
• Amazon’s latest quarterly results fell slightly short of consensus, with EPS of $1.89 versus $1.97 expected and revenue of $201.94 billion versus $202.22 billion, though revenue rose 12.1% year over year.

Black Diamond Financial LLC raised its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 14.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,058 shares of the e-commerce giant's stock after buying an additional 2,024 shares during the period. Black Diamond Financial LLC's holdings in Amazon.com were worth $4,001,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Silvant Capital Management LLC purchased a new stake in Amazon.com in the 2nd quarter worth about $60,065,000. Public Employees Retirement System of Ohio acquired a new stake in Amazon.com during the 2nd quarter worth about $909,868,000. Northstar Financial Companies Inc. purchased a new position in Amazon.com during the 2nd quarter valued at about $3,376,000. Gryphon Financial Partners LLC grew its stake in Amazon.com by 7.5% during the 1st quarter. Gryphon Financial Partners LLC now owns 73,085 shares of the e-commerce giant's stock valued at $15,221,000 after acquiring an additional 5,125 shares in the last quarter. Finally, First Citizens Bank & Trust Co. increased its holdings in shares of Amazon.com by 1.7% in the 1st quarter. First Citizens Bank & Trust Co. now owns 303,862 shares of the e-commerce giant's stock valued at $63,285,000 after purchasing an additional 5,104 shares during the period. Institutional investors and hedge funds own 72.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. KeyCorp set a $345.00 price target on shares of Amazon.com and gave the stock an "overweight" rating in a research report on Friday, October 30th. Monness Crespi & Hardt boosted their price objective on shares of Amazon.com from $315.00 to $330.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Weiss Ratings reiterated a "buy (b)" rating on shares of Amazon.com in a research note on Friday, October 30th. Rosenblatt Securities reiterated a "buy" rating and issued a $360.00 target price on shares of Amazon.com in a research report on Friday, October 30th. Finally, UBS Group reissued a "buy" rating and set a $348.00 target price (up from $318.00) on shares of Amazon.com in a research note on Monday, October 26th. Two investment analysts have rated the stock with a Strong Buy rating, fifty-five have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $321.74.

Top Amazon.com Stories

These are some of the AMZN stories that stood out recently:

• Positive Sentiment: Amazon’s planned World Product Graph would catalog products available across the internet, including items Amazon doesn’t stock. If it makes Amazon a starting point for more shopping searches, it could strengthen product discovery and attract advertising revenue. Reuters 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
• Negative Sentiment: United Airlines’ CEO reportedly criticized Amazon Leo as a mistake while praising Starlink’s competitive position, highlighting execution and competition risks for Amazon’s satellite initiative. Benzinga article

Insider Buying and Selling at Amazon.com

In other news, CEO Douglas Herrington sold 1,000 shares of the business's stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $243.47, for a total transaction of $243,470.00. Following the sale, the chief executive officer directly owned 473,681 shares in the company, valued at approximately $115,327,113.07. The trade was a 0.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew Jassy sold 20,000 shares of the company's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $259.01, for a total value of $5,180,200.00. Following the completion of the transaction, the chief executive officer owned 2,235,766 shares of the company's stock, valued at $579,085,751.66. The trade was a 0.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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.

Amazon.com Stock Down 0.3%

Amazon.com stock opened at $266.66 on Friday. The firm has a market cap of $2.88 trillion, a price-to-earnings ratio of 21.56, a P/E/G ratio of 2.03 and a beta of 1.49. The firm has a fifty day moving average price of $254.82 and a two-hundred day moving average price of $244.32. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.99 and a quick ratio of 0.82. 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 issued its quarterly earnings results 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 business had revenue of $201.94 billion for the quarter, compared to analyst estimates of $202.22 billion. Amazon.com had a return on equity of 15.72% and a net margin of 16.90%. The firm's quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.95 earnings per share. As a group, analysts forecast that Amazon.com, Inc. will post 7.80 earnings per share for the current year.

Amazon.com Company 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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