Encore Global Management LP Purchases New Shares in Amazon.com, Inc. $AMZN

Key Points

• Encore Global Management initiated a 16,500-share Amazon position worth approximately $3.4 million, representing 2.4% of its portfolio. Institutional investors and hedge funds collectively own 72.2% of Amazon’s shares.
• Amazon insiders sold 77,867 shares worth about $20.5 million during the quarter, including CEO sales conducted under pre-arranged Rule 10b5-1 trading plans.
• Analyst sentiment remains strongly positive, with a consensus “Moderate Buy” rating and a $322.56 price target. Amazon also reported quarterly revenue of $200.61 billion and EPS of $5.75, surpassing estimates while revenue grew 19.6% year over year.

Encore Global Management LP purchased a new position 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 SEC. The firm purchased 16,500 shares of the e-commerce giant's stock, valued at approximately $3,436,000. Amazon.com makes up 2.4% of Encore Global Management LP's investment portfolio, making the stock its 11th biggest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Amazon.com during the fourth quarter valued at approximately $32,868,735,000. Auto Owners Insurance Co lifted its position 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 acquiring an additional 98,090,585 shares in the last quarter. J. Stern & Co. LLP boosted its stake in Amazon.com by 20,598.0% in the 4th quarter. J. Stern & Co. LLP now owns 87,982,814 shares of the e-commerce giant's stock worth $20,308,193,000 after purchasing an additional 87,557,736 shares during the period. Nuveen LLC acquired a new position in Amazon.com in the 1st quarter worth approximately $11,674,091,000. Finally, Cardano Risk Management B.V. grew its position in Amazon.com by 879.4% during the 4th quarter. Cardano Risk Management B.V. now owns 27,862,400 shares of the e-commerce giant's stock worth $6,431,199,000 after purchasing an additional 25,017,588 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Insider Buying and Selling

In other news, CEO Douglas J. Herrington sold 6,370 shares of Amazon.com stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $262.39, for a total transaction of $1,671,424.30. Following the sale, the chief executive officer directly owned 486,527 shares in the company, valued at approximately $127,659,819.53. The trade was a 1.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $5,268,400.00. Following the completion of the transaction, the chief executive officer directly owned 2,205,766 shares of the company's stock, valued at $581,042,879.72. This trade represents a 0.90% 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. In the last quarter, insiders have sold 77,867 shares of company stock worth $20,532,092. Insiders own 8.90% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Zacks Research raised shares of Amazon.com from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 4th. UBS Group set a $318.00 target price on Amazon.com and gave the stock a "buy" rating in a research report on Friday, July 31st. Needham & Company LLC reiterated a "buy" rating and set a $300.00 price target on shares of Amazon.com in a report on Friday, July 31st. TD Securities raised Amazon.com to a "buy" rating in a research report on Monday, April 13th. Finally, Evercore reissued an "outperform" rating on shares of Amazon.com in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, fifty-six have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $322.56.

Key Stories Impacting Amazon.com

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

Amazon.com Stock Performance

AMZN stock opened at $278.09 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 1.03 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $3.00 trillion, a price-to-earnings ratio of 22.37, a P/E/G 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 firm has a 50 day moving average of $246.69 and a two-hundred day moving average of $237.78.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted 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 company had revenue of $200.61 billion for the quarter, compared to analyst estimates of $197.03 billion. Amazon.com had a return on equity of 18.00% and a net margin of 17.44%.The business's revenue was up 19.6% compared to the same quarter last year. During the same period last year, the company earned $1.68 earnings per share. As a group, equities analysts anticipate that Amazon.com, Inc. will post 8.05 EPS for the current fiscal year.

Amazon.com Company 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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