EdgePoint Investment Group Inc. Acquires New Stake in Amazon.com, Inc. $AMZN

Key Points

• EdgePoint Investment Group acquired 1.35 million Amazon shares worth approximately $280.1 million during the first quarter, making Amazon its 17th-largest portfolio holding and representing 2.2% of its portfolio.
• Amazon reported a strong quarter, with earnings of $5.75 per share and revenue of $200.61 billion, exceeding analyst expectations; revenue increased 19.6% year over year.
• Wall Street remains broadly bullish: 56 analysts rate Amazon a Buy, with a consensus “Moderate Buy” rating and an average price target of $322.56 versus the reported share price of $278.09.

EdgePoint Investment Group Inc. bought a new stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,345,120 shares of the e-commerce giant's stock, valued at approximately $280,148,000. Amazon.com accounts for approximately 2.2% of EdgePoint Investment Group Inc.'s portfolio, making the stock its 17th biggest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. MilWealth Group LLC boosted its holdings in shares of Amazon.com by 79.0% in the fourth quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant's stock worth $41,000 after buying an additional 79 shares during the last quarter. Lifetime Wealth Management P.C. purchased a new stake in Amazon.com during the fourth quarter valued at approximately $45,000. Elkhorn Partners Limited Partnership raised its position in Amazon.com by 900.0% in the fourth quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant's stock worth $46,000 after acquiring an additional 180 shares during the period. Fairway Wealth LLC raised its position in Amazon.com by 95.6% in the fourth quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant's stock worth $51,000 after acquiring an additional 108 shares during the period. Finally, Prudent Man Investment Management Inc. boosted its stake in shares of Amazon.com by 87.7% during the 4th quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant's stock worth $53,000 after acquiring an additional 107 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Stock Up 1.3%

Shares of AMZN opened at $278.09 on Tuesday. The business's 50 day moving average is $246.69 and its 200 day moving average is $237.78. The company has a market capitalization of $3.00 trillion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 1.83 and a beta of 1.45. Amazon.com, Inc. has a 12-month low of $196.00 and a 12-month high of $287.20. 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 posted its quarterly earnings results on Thursday, July 30th. The e-commerce giant reported $5.75 EPS for the quarter, topping analysts' consensus estimates of $1.82 by $3.93. Amazon.com had a return on equity of 18.00% and a net margin of 17.44%.The company had revenue of $200.61 billion for the quarter, compared to analysts' expectations of $197.03 billion. During the same period in the previous year, the firm earned $1.68 EPS. The firm's revenue was up 19.6% compared to the same quarter last year. Research analysts expect that Amazon.com, Inc. will post 8.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AMZN has been the subject of a number of recent research reports. TD Securities raised shares of Amazon.com to a "buy" rating in a research report on Monday, April 13th. Maxim Group lifted their target price on Amazon.com from $290.00 to $315.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Benchmark lifted their target price on Amazon.com from $370.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Wedbush boosted their price target on Amazon.com from $293.00 to $310.00 and gave the company an "outperform" rating in a report on Friday, July 31st. Finally, Barclays restated an "overweight" rating and issued a $365.00 price target (up from $330.00) on shares of Amazon.com in a research report on Friday, July 31st. One equities research 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 data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $322.56.

Insider Transactions at Amazon.com

In related news, CEO Andrew R. Jassy sold 20,000 shares of the company's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $263.42, for a total transaction of $5,268,400.00. Following the completion of the transaction, the chief executive officer owned 2,205,766 shares in the company, valued at approximately $581,042,879.72. This represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP David Zapolsky sold 9,270 shares of the company'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 transaction, the senior vice president owned 41,190 shares of the company's stock, valued at approximately $11,060,750.70. This represents a 18.37% 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. In the last three months, insiders have sold 77,867 shares of company stock valued at $20,532,092. 8.90% of the stock is owned by corporate insiders.

Amazon.com News Roundup

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

• Positive Sentiment: Amazon’s recent earnings breakout is attracting continued investor interest. Renewed AWS growth and accelerating AI demand could support earnings momentum and a post-earnings drift higher. Amazon: A Post-Earnings Drift Candidate
• Positive Sentiment: Analysts and market commentators point to accelerating cloud revenue as a potential long-term driver that could help Amazon grow beyond its recently achieved $3 trillion market capitalization. Amazon Just Joined the $3 Trillion Club
• Positive Sentiment: A reported institutional and retail “Power Inflow” alert provided a short-term bullish trading signal, helping reinforce buying momentum in AMZN. Amazon Shares Up After Key Trading Signal
• Positive Sentiment: Amazon’s Zoox robotaxi subsidiary began paid rides in Las Vegas after receiving a federal commercial exemption, marking a meaningful commercialization milestone for the company’s autonomous-vehicle investment. Zoox to Begin Paid Rides
• Positive Sentiment: Amazon Pharmacy is offering eligible Medicare patients access to certain weight-loss drugs for $50 per month, potentially expanding customer engagement and the company’s healthcare presence. Amazon Pharmacy Rolls Out Low-Cost Weight-Loss Drugs

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.

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.

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