Chancellor Financial Group WB LP Purchases New Position in Amazon.com, Inc. $AMZN

Key Points

• Chancellor Financial Group WB LP acquired 25,622 Amazon shares worth approximately $6.1 million in the second quarter, making Amazon its fifth-largest position at 3.8% of the portfolio.
• Institutional investors own 72.2% of Amazon, while analysts remain bullish, with a consensus “Moderate Buy” rating and an average price target of $323.26.
• Amazon reported quarterly revenue of $200.61 billion, up 19.6% year over year, and earnings of $5.75 per share—well above estimates—although insiders sold $18.6 million of stock over the past 90 days.

Chancellor Financial Group WB LP acquired a new position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 25,622 shares of the e-commerce giant's stock, valued at approximately $6,107,000. Amazon.com makes up about 3.8% of Chancellor Financial Group WB LP's investment portfolio, making the stock its 5th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Auto Owners Insurance Co grew its stake in shares of Amazon.com by 27,376.7% in the 4th quarter. Auto Owners Insurance Co now owns 98,448,885 shares of the e-commerce giant's stock valued at $2,272,397,000 after buying an additional 98,090,585 shares during the period. Bank of New York Mellon Corp purchased a new stake in Amazon.com during the second quarter valued at about $16,341,405,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Amazon.com during the second quarter valued at approximately $6,631,466,000. Danske Bank A S bought a new stake in shares of Amazon.com in the second quarter worth about $2,494,705,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Amazon.com by 32.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 32,578,171 shares of the e-commerce giant's stock worth $6,785,036,000 after purchasing an additional 7,924,943 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AMZN. Mizuho set a $330.00 price objective on shares of Amazon.com and gave the stock an "outperform" rating in a research note on Friday, July 31st. Benchmark boosted their price objective on shares of Amazon.com from $370.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Jefferies Financial Group reiterated a "buy" rating on shares of Amazon.com in a research report on Thursday, June 18th. Raymond James Financial reiterated an "outperform" rating and set a $390.00 target price (up from $280.00) on shares of Amazon.com in a research report on Friday, July 31st. Finally, Arete Research lifted their price target on shares of Amazon.com from $301.00 to $310.00 and gave the company a "buy" rating in a report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, fifty-six have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Amazon.com currently has an average rating of "Moderate Buy" and a consensus price target of $323.26.

Amazon.com News Roundup

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

• Positive Sentiment: Amazon’s advertising business is expanding beyond its own properties through a pilot partnership that lets select advertisers extend Amazon campaigns into ChatGPT. The initiative could broaden Amazon DSP’s reach and create a new revenue channel, although financial terms remain undisclosed. Amazon Is Becoming a Gateway to ChatGPT Ads
• Positive Sentiment: Zoox is entering San Francisco’s robotaxi market, increasing Amazon’s exposure to autonomous transportation and creating potential long-term upside if the service scales successfully. Amazon’s Zoox Enters San Francisco’s Crowded Robotaxi Market
• Positive Sentiment: Amazon completed a £4.242 billion sterling-denominated senior debt offering, supporting its U.K. operations and broader funding needs. The issuance improves liquidity flexibility but also adds to the company’s debt load. Amazon Boosts UK Presence With Sterling Debt Offering

Insider Buying and Selling at Amazon.com

In related news, SVP David Zapolsky sold 9,258 shares of the business's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $259.77, for a total value of $2,404,950.66. Following the completion of the sale, the senior vice president directly owned 41,190 shares in the company, valued at approximately $10,699,926.30. The trade was a 18.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian T. Olsavsky sold 6,172 shares of the company's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $260.31, for a total transaction of $1,606,633.32. Following the sale, the chief financial officer owned 109,207 shares of the company's stock, valued at $28,427,674.17. This trade represents a 5.35% 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 a total of 71,589 shares of company stock worth $18,568,785 over the last 90 days. 8.90% of the stock is currently owned by insiders.

Amazon.com Stock Down 1.3%

Amazon.com stock opened at $253.54 on Tuesday. The company has a 50-day simple moving average of $255.75 and a 200-day simple moving average of $244.72. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.87 and a current ratio of 1.03. The firm has a market capitalization of $2.73 trillion, a P/E ratio of 20.40, a P/E/G ratio of 1.98 and a beta of 1.44. Amazon.com, Inc. has a one year low of $196.00 and a one year high of $287.20.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The e-commerce giant reported $5.75 earnings per share for the quarter, beating analysts' consensus estimates of $1.82 by $3.93. Amazon.com had a net margin of 17.44% and a return on equity of 18.00%. The company had revenue of $200.61 billion during the quarter, compared to the consensus estimate of $197.03 billion. During the same period in the prior year, the company earned $1.68 EPS. Amazon.com's revenue was up 19.6% on a year-over-year basis. As a group, equities analysts expect that Amazon.com, Inc. will post 8.05 earnings per share for the current year.

Amazon.com Company Profile

Amazon.com, Inc is a global technology and e-commerce company that operates online marketplaces and provides a broad range of consumer products and services. Its retail business sells merchandise directly to customers and enables third-party sellers to offer products through Amazon's websites and applications. The company also operates physical stores and provides services such as digital content, subscriptions, and consumer devices, including Kindle and Echo products.

Amazon Web Services (AWS) provides cloud computing, storage, database, analytics, artificial intelligence, machine learning, and other technology services to businesses, governments, and organizations.

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