CORDA Investment Management LLC. Acquires 5,856 Shares of Amazon.com, Inc. $AMZN

Key Points

• CORDA Investment Management increased its Amazon stake by 2.7% in the first quarter, buying 5,856 more shares and bringing its total holding to 219,106 shares worth about $45.6 million.
• Amazon reported a strong quarter, with EPS of $2.78 versus estimates of $1.63 and revenue of $181.52 billion, topping analyst expectations and rising 16.6% year over year.
• Despite some insider selling, analysts remain broadly bullish on AMZN, with 57 Buy ratings, just 3 Holds, and a consensus price target of $312.91.

CORDA Investment Management LLC. lifted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 219,106 shares of the e-commerce giant's stock after buying an additional 5,856 shares during the quarter. Amazon.com comprises approximately 3.2% of CORDA Investment Management LLC.'s investment portfolio, making the stock its 12th largest holding. CORDA Investment Management LLC.'s holdings in Amazon.com were worth $45,633,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Narwhal Capital Management increased its holdings in Amazon.com by 2.3% during the 4th quarter. Narwhal Capital Management now owns 216,606 shares of the e-commerce giant's stock worth $49,997,000 after purchasing an additional 4,854 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Amazon.com by 21.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 24,653,228 shares of the e-commerce giant's stock valued at $5,690,463,000 after purchasing an additional 4,275,942 shares during the period. Weaver Capital Management LLC grew its position in Amazon.com by 13.6% during the fourth quarter. Weaver Capital Management LLC now owns 39,264 shares of the e-commerce giant's stock valued at $9,063,000 after buying an additional 4,713 shares during the period. Ethos Financial Group LLC grew its position in Amazon.com by 9.6% during the fourth quarter. Ethos Financial Group LLC now owns 36,485 shares of the e-commerce giant's stock valued at $8,421,000 after buying an additional 3,196 shares during the period. Finally, Culbertson A N & Co. Inc. increased its holdings in Amazon.com by 8.6% during the fourth quarter. Culbertson A N & Co. Inc. now owns 30,444 shares of the e-commerce giant's stock worth $7,027,000 after buying an additional 2,412 shares during the last quarter. Institutional investors own 72.20% of the company's stock.

Insider Activity at Amazon.com

In related news, SVP David Zapolsky sold 9,270 shares of the business's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $268.53, for a total transaction of $2,489,273.10. Following the sale, the senior vice president directly owned 41,190 shares in the company, valued at approximately $11,060,750.70. The trade was a 18.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew R. Jassy sold 20,000 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $263.42, for a total value of $5,268,400.00. Following the sale, the chief executive officer directly owned 2,205,766 shares in the company, valued at $581,042,879.72. This trade represents a 0.90% decrease in their position. 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 140,425 shares of company stock worth $37,715,464 in the last 90 days. 8.90% of the stock is owned by company insiders.

Amazon.com Stock Performance

Shares of AMZN stock opened at $232.11 on Friday. The firm's 50 day moving average is $248.26 and its 200 day moving average is $236.32. The stock has a market capitalization of $2.50 trillion, a P/E ratio of 27.76, a PEG ratio of 1.74 and a beta of 1.46. Amazon.com, Inc. has a 12 month low of $196.00 and a 12 month high of $278.56. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27.

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

Analysts Set New Price Targets

Several brokerages have commented on AMZN. Telsey Advisory Group lifted their price objective on shares of Amazon.com from $300.00 to $315.00 and gave the stock an "outperform" rating in a research report on Thursday, April 30th. Oppenheimer raised their price target on shares of Amazon.com from $275.00 to $320.00 and gave the stock an "outperform" rating in a research note on Thursday, April 30th. Citigroup reaffirmed a "market outperform" rating on shares of Amazon.com in a report on Wednesday, July 15th. Raymond James Financial reiterated an "outperform" rating and issued a $280.00 price objective on shares of Amazon.com in a research note on Friday, May 1st. Finally, Moffett Nathanson increased their price objective on Amazon.com from $283.00 to $288.00 and gave the company a "buy" rating in a report on Tuesday, April 7th. Fifty-seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $312.91.

Key Amazon.com News

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

Amazon.com Profile

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.

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