Check Capital Management Inc. CA Increases Position in Amazon.com, Inc. $AMZN

Key Points

• Check Capital Management increased its Amazon position by 5,762.9% in the first quarter, adding 200,606 shares to hold 204,087 shares worth approximately $42.5 million. Institutional investors and hedge funds collectively own 72.2% of Amazon.
• Amazon reported first-quarter EPS of $2.78, well above the $1.63 consensus estimate, while revenue rose 16.6% year over year to $181.52 billion. Analysts maintain a “Moderate Buy” consensus, with an average price target of $312.91.
• CEO Andy Jassy and VP Shelley Reynolds sold shares under pre-arranged Rule 10b5-1 plans, while bullish sentiment remains supported by AWS, AI investment, potential international expansion in India, and expectations for a positive post-earnings move.

Check Capital Management Inc. CA boosted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 5,762.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 204,087 shares of the e-commerce giant's stock after acquiring an additional 200,606 shares during the period. Amazon.com accounts for 1.2% of Check Capital Management Inc. CA's investment portfolio, making the stock its 9th biggest holding. Check Capital Management Inc. CA's holdings in Amazon.com were worth $42,505,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMZN. Brighton Jones LLC grew its holdings in Amazon.com by 10.9% in the 4th quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant's stock valued at $885,478,000 after buying an additional 397,007 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of Amazon.com by 4.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant's stock worth $5,495,000 after buying an additional 986 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in shares of Amazon.com by 2.8% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant's stock worth $442,481,000 after buying an additional 54,987 shares during the last quarter. Highview Capital Management LLC DE boosted its position in shares of Amazon.com by 5.5% in the fourth quarter. Highview Capital Management LLC DE now owns 28,975 shares of the e-commerce giant's stock valued at $6,357,000 after acquiring an additional 1,518 shares during the period. Finally, Liberty Square Wealth Partners LLC bought a new stake in shares of Amazon.com in the fourth quarter valued at approximately $2,153,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com News Roundup

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

• Positive Sentiment: Options data and several analyst/commentary pieces suggest traders expect a post-earnings move higher, and multiple firms remain bullish on AMZN heading into the July 30 report. Ahead of Amazon Earnings, Here's What Barchart Data Says Comes Next for AMZN Stock
• Positive Sentiment: India eased e-commerce export rules, which is a win for Amazon’s international marketplace ambitions and could support long-term growth. India relaxes e-commerce investment rules for exports in win for Amazon
• Positive Sentiment: Several bullish research notes continue to frame AWS, custom silicon, and Amazon’s AI buildout as long-term growth drivers, with some investors arguing the capex surge should ultimately strengthen Amazon’s competitive moat. Amazon: Why The CapEx Surge Makes Me More Bullish, Not Less

Insiders Place Their Bets

In other news, CEO Andrew R. Jassy sold 20,000 shares of the company's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $263.42, for a total value of $5,268,400.00. Following the sale, the chief executive officer owned 2,205,766 shares of the company's stock, valued at approximately $581,042,879.72. This represents a 0.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Shelley Reynolds sold 2,363 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $262.38, for a total transaction of $620,003.94. Following the sale, the vice president directly owned 119,780 shares of the company's stock, valued at approximately $31,427,876.40. The trade was a 1.93% 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 have sold a total of 140,425 shares of company stock valued at $37,715,464 over the last 90 days. Company insiders own 8.90% of the company's stock.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $232.11 on Monday. The firm has a market capitalization of $2.50 trillion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 1.74 and a beta of 1.46. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.01. The company's fifty day moving average price is $248.26 and its two-hundred day moving average price is $236.34. Amazon.com, Inc. has a 52-week low of $196.00 and a 52-week high of $278.56.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $1.15. The company had revenue of $181.52 billion during the quarter, compared to analysts' expectations of $177.28 billion. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The business's revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.59 EPS. On average, analysts expect that Amazon.com, Inc. will post 7.75 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AMZN. Bank of America boosted their target price on shares of Amazon.com from $298.00 to $310.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Raymond James Financial reissued an "outperform" rating and issued a $280.00 price target on shares of Amazon.com in a report on Friday, May 1st. New Street Research boosted their price objective on shares of Amazon.com from $280.00 to $350.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Canaccord Genuity Group boosted their price objective on shares of Amazon.com from $300.00 to $330.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Finally, Truist Financial upped their price objective on shares of Amazon.com from $310.00 to $320.00 and gave the company a "buy" rating in a research report on Friday, May 29th. Fifty-seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Amazon.com currently has a consensus rating of "Moderate Buy" and a consensus target price of $312.91.

About Amazon.com

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.

Want to see what other hedge funds are holding AMZN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amazon.com, Inc. (NASDAQ:AMZN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.