EverSource Wealth Advisors LLC Increases Position in Amazon.com, Inc. $AMZN

Key Points

• EverSource Wealth Advisors increased its Amazon stake by 17.1% in the first quarter, holding 162,143 shares valued at $33.77 million. Institutional investors collectively own 72.2% of Amazon’s stock.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $322.56; several brokerages recently raised their targets to between $320 and $345.
• Amazon reported a strong quarter, with earnings of $5.75 per share versus the $1.82 consensus and revenue of $200.61 billion, up 19.6% year over year. The stock opened at $278.09, near its 52-week high of $287.20, although insiders sold shares under pre-arranged trading plans.

EverSource Wealth Advisors LLC increased its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 17.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 162,143 shares of the e-commerce giant's stock after buying an additional 23,647 shares during the quarter. Amazon.com comprises about 1.0% of EverSource Wealth Advisors LLC's holdings, making the stock its 16th largest position. EverSource Wealth Advisors LLC's holdings in Amazon.com were worth $33,770,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its stake in shares of Amazon.com by 10.9% during the fourth quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant's stock worth $885,478,000 after purchasing 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 purchasing an additional 986 shares during the period. Bank Pictet & Cie Europe AG grew its position in Amazon.com by 2.8% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant's stock valued at $442,481,000 after buying an additional 54,987 shares during the last quarter. Highview Capital Management LLC DE grew its position in Amazon.com by 5.5% in the 4th quarter. Highview Capital Management LLC DE now owns 28,975 shares of the e-commerce giant's stock valued at $6,357,000 after buying an additional 1,518 shares during the last quarter. Finally, Liberty Square Wealth Partners LLC acquired a new position in Amazon.com in the 4th quarter valued at $2,153,000. Institutional investors and hedge funds own 72.20% of the company's stock.

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

Analysts Set New Price Targets

A number of brokerages have commented on AMZN. Rosenblatt Securities upped their price objective on shares of Amazon.com from $332.00 to $345.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $328.00 target price (up from $322.00) on shares of Amazon.com in a report on Friday, July 31st. Piper Sandler reiterated an "overweight" rating and set a $320.00 price target (up from $315.00) on shares of Amazon.com in a research note on Friday, July 31st. Guggenheim reissued a "buy" rating and set a $320.00 price target (up from $300.00) on shares of Amazon.com in a report on Thursday, April 30th. Finally, Royal Bank Of Canada raised their price objective on shares of Amazon.com from $320.00 to $330.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, fifty-six have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $322.56.

Insiders Place Their Bets

In other news, VP Shelley Reynolds sold 2,363 shares of the firm's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $262.38, for a total value of $620,003.94. Following the completion of the transaction, the vice president owned 119,780 shares in the company, valued at $31,427,876.40. This trade represents a 1.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 6,370 shares of Amazon.com stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $262.39, for a total value of $1,671,424.30. Following the transaction, the chief executive officer directly owned 486,527 shares of the company's stock, valued at $127,659,819.53. This trade represents a 1.29% 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. Over the last quarter, insiders have sold 77,867 shares of company stock valued at $20,532,092. Company insiders own 8.90% of the company's stock.

Amazon.com Stock Performance

AMZN opened at $278.09 on Tuesday. The stock has a market cap of $3.00 trillion, a P/E ratio of 22.37, a P/E/G ratio of 1.83 and a beta of 1.45. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.03 and a quick ratio of 0.87. The stock's 50 day simple moving average is $246.69 and its 200 day simple moving average is $237.78. Amazon.com, Inc. has a 1-year low of $196.00 and a 1-year high of $287.20.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $200.61 billion during 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%.Amazon.com's quarterly revenue was up 19.6% on a year-over-year basis. During the same period last year, the business posted $1.68 EPS. 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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