Compass Wealth Management LLC Invests $1.59 Million in Amazon.com, Inc. $AMZN

Key Points

• Compass Wealth Management initiated a $1.59 million position in Amazon during the second quarter by purchasing 6,653 shares. Institutional investors collectively own 72.2% of Amazon’s stock.
• Amazon reported quarterly revenue of $200.61 billion, up 19.6% year over year, and earnings per share of $5.75, substantially exceeding analyst expectations.
• Wall Street maintains a favorable outlook, with a consensus “Moderate Buy” rating and an average price target of $323.26, while Amazon’s CEO and CFO sold shares under pre-arranged Rule 10b5-1 plans.

Compass Wealth Management LLC bought a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,653 shares of the e-commerce giant's stock, valued at approximately $1,586,000.

A number of other large investors also recently added to or reduced their stakes in AMZN. Auto Owners Insurance Co increased its stake in Amazon.com by 27,376.7% during 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 purchasing an additional 98,090,585 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Amazon.com during the second quarter worth $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 $6,631,466,000. Danske Bank A S purchased a new stake in shares of Amazon.com during the second quarter valued at $2,494,705,000. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of 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 valued at $6,785,036,000 after acquiring an additional 7,924,943 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

More Amazon.com News

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

Amazon.com Price Performance

NASDAQ:AMZN opened at $253.54 on Tuesday. The stock has a 50 day moving average of $255.75 and a two-hundred day moving average of $244.72. Amazon.com, Inc. has a 12 month low of $196.00 and a 12 month high of $287.20. The firm has a market cap of $2.73 trillion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 1.98 and a beta of 1.44. The company has a current ratio of 1.03, a quick ratio of 0.87 and a debt-to-equity ratio of 0.23.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its earnings results on Thursday, July 30th. The e-commerce giant reported $5.75 earnings per share for the quarter, beating the consensus estimate of $1.82 by $3.93. The business had revenue of $200.61 billion for the quarter, compared to the consensus estimate of $197.03 billion. Amazon.com had a return on equity of 18.00% and a net margin of 17.44%.The business's quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.68 earnings per share. On average, analysts expect that Amazon.com, Inc. will post 8.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AMZN. Needham & Company LLC reiterated a "buy" rating and set a $300.00 price target on shares of Amazon.com in a research note on Friday, July 31st. JPMorgan Chase & Co. lifted their target price on Amazon.com from $330.00 to $365.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $325.00 target price (up from $315.00) on shares of Amazon.com in a research report on Friday, July 31st. Citizens Jmp reiterated a "market outperform" rating and issued a $315.00 price target on shares of Amazon.com in a report on Friday, July 31st. Finally, Citigroup reissued a "market outperform" rating on shares of Amazon.com in a research report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, fifty-six have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $323.26.

Insider Buying and Selling

In other news, CEO Douglas J. Herrington sold 6,362 shares of the company's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $259.01, for a total value of $1,647,821.62. Following the completion of the sale, the chief executive officer directly owned 476,681 shares in the company, valued at $123,465,145.81. This represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $260.31, for a total value of $1,606,633.32. Following the completion of the sale, the chief financial officer directly owned 109,207 shares of the company's stock, valued at approximately $28,427,674.17. This represents a 5.35% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 71,589 shares of company stock worth $18,568,785 in the last ninety days. Company insiders own 8.90% of the company's stock.

About Amazon.com

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.

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.