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Financial Solutions Advisory Group Inc. Buys Shares of 8,963 Amazon.com, Inc. $AMZN

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Key Points

  • Financial Solutions Advisory Group bought 8,963 Amazon shares valued at approximately $1.87 million during the first quarter. 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 adjusted EPS of $5.75, well above analysts’ $1.82 estimate.
  • Analysts remain bullish, with an average “Moderate Buy” rating and a $322.56 price target versus the reported share price of $265.13. Amazon insiders sold 62,650 shares worth $16.5 million during the latest quarter under pre-arranged trading plans.
  • MarketBeat previews the top five stocks to own by September 1st.

Financial Solutions Advisory Group Inc. bought a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 8,963 shares of the e-commerce giant's stock, valued at approximately $1,867,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Amazon.com by 1.1% in the first quarter. Vanguard Group Inc. now owns 832,274,556 shares of the e-commerce giant's stock worth $158,348,557,000 after purchasing an additional 8,913,959 shares during the period. State Street Corp boosted its stake in shares of Amazon.com by 1.8% during the fourth quarter. State Street Corp now owns 388,653,121 shares of the e-commerce giant's stock valued at $89,708,913,000 after purchasing an additional 6,971,680 shares during the period. Geode Capital Management LLC boosted its stake in shares of Amazon.com by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 225,120,994 shares of the e-commerce giant's stock valued at $51,753,622,000 after purchasing an additional 2,479,324 shares during the period. Norges Bank bought a new position in shares of Amazon.com in the fourth quarter worth about $32,868,735,000. Finally, Auto Owners Insurance Co grew its holdings in shares of Amazon.com by 27,376.7% in the fourth quarter. Auto Owners Insurance Co now owns 98,448,885 shares of the e-commerce giant's stock worth $2,272,397,000 after purchasing an additional 98,090,585 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Stock Down 0.8%

NASDAQ:AMZN opened at $265.13 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.03 and a quick ratio of 0.87. Amazon.com, Inc. has a 1-year low of $196.00 and a 1-year high of $287.20. The company has a 50-day moving average of $247.57 and a 200 day moving average of $238.49. The firm has a market cap of $2.86 trillion, a PE ratio of 21.33, a price-to-earnings-growth ratio of 1.78 and a beta of 1.45.

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Mizuho set a $330.00 price objective on shares of Amazon.com and gave the company an "outperform" rating in a report on Friday, July 31st. Pivotal Research restated a "buy" rating and issued a $333.00 target price (up from $320.00) on shares of Amazon.com in a research note on Friday, July 31st. BMO Capital Markets reaffirmed an "outperform" rating and set a $360.00 target price (up from $355.00) on shares of Amazon.com in a research report on Tuesday, July 28th. JPMorgan Chase & Co. lifted their price target on shares of Amazon.com from $330.00 to $365.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. Finally, Stifel Nicolaus set a $319.00 price target on shares of Amazon.com and gave the company a "buy" rating in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, fifty-six have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Amazon.com presently has an average rating of "Moderate Buy" and an average target price of $322.56.

Read Our Latest Stock Analysis on Amazon.com

Insider Activity

In related news, CEO Matthew S. Garman sold 15,467 shares of Amazon.com stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $263.40, for a total transaction of $4,074,007.80. Following the transaction, the chief executive officer directly owned 14,159 shares of the company's stock, valued at $3,729,480.60. This trade represents a 52.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Shelley Reynolds sold 2,363 shares of Amazon.com stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $262.38, for a total transaction of $620,003.94. Following the transaction, the vice president directly owned 119,780 shares in the company, valued at approximately $31,427,876.40. The trade was a 1.93% decrease in their ownership of the stock. 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 quarter, insiders sold 62,650 shares of company stock valued at $16,535,457. 8.90% of the stock is currently owned by corporate insiders.

Trending Headlines about Amazon.com

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Amazon.com Company Profile

(Free Report)

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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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).

Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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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