Headinvest LLC Increases Stake in Amazon.com, Inc. $AMZN

Key Points

• Headinvest LLC boosted its Amazon stake by 30.9% in the fourth quarter, buying 5,817 more shares and bringing its total to 24,645 shares worth about $5.69 million.
• Amazon continues to draw heavy institutional interest, with large holders like Vanguard, State Street, Geode Capital, and Norges Bank also adding to or initiating positions; about 72.2% of the stock is owned by hedge funds and other institutions.
• Despite some insider selling, Amazon reported strong quarterly results with EPS of $2.78 versus the $1.63 estimate and revenue of $181.5 billion, up 16.6% year over year, while Wall Street analysts remain broadly bullish with a Moderate Buy consensus and a $312.66 price target.

Headinvest LLC lifted its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 30.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,645 shares of the e-commerce giant's stock after purchasing an additional 5,817 shares during the quarter. Amazon.com comprises about 1.1% of Headinvest LLC's portfolio, making the stock its 26th largest holding. Headinvest LLC's holdings in Amazon.com were worth $5,689,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Amazon.com by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 832,274,556 shares of the e-commerce giant's stock valued at $158,348,557,000 after purchasing an additional 8,913,959 shares during the last quarter. State Street Corp raised its position in shares of Amazon.com by 2.0% in the 3rd quarter. State Street Corp now owns 381,681,441 shares of the e-commerce giant's stock valued at $83,805,794,000 after purchasing an additional 7,584,156 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Amazon.com by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 216,717,657 shares of the e-commerce giant's stock valued at $47,332,625,000 after purchasing an additional 3,721,658 shares during the last quarter. Norges Bank purchased a new position in shares of Amazon.com in the 2nd quarter valued at approximately $27,438,011,000. Finally, Northern Trust Corp raised its position in shares of Amazon.com by 0.3% in the 1st quarter. Northern Trust Corp now owns 97,379,134 shares of the e-commerce giant's stock valued at $18,527,354,000 after purchasing an additional 302,858 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Amazon.com

In related news, CEO Matthew S. Garman sold 15,467 shares of Amazon.com stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $263.40, for a total value of $4,074,007.80. Following the sale, the chief executive officer owned 14,159 shares of the company's stock, valued at approximately $3,729,480.60. This trade represents a 52.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $262.39, for a total transaction of $1,671,424.30. Following the completion of the sale, the chief executive officer directly owned 486,527 shares in the company, valued at $127,659,819.53. This represents a 1.29% 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. Insiders have sold 195,774 shares of company stock worth $51,552,494 in the last ninety days. Company insiders own 8.90% of the company's stock.

Amazon.com Price Performance

NASDAQ:AMZN opened at $265.29 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.01. The firm has a market cap of $2.85 trillion, a price-to-earnings ratio of 31.73, a price-to-earnings-growth ratio of 1.99 and a beta of 1.46. The company has a 50 day moving average price of $241.79 and a 200-day moving average price of $231.93. Amazon.com, Inc. has a 1-year low of $196.00 and a 1-year high of $278.56.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share for the quarter, beating the consensus estimate of $1.63 by $1.15. The firm had revenue of $181.52 billion during the quarter, compared to analyst estimates of $177.28 billion. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The business's quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.59 EPS. Equities research analysts forecast that Amazon.com, Inc. will post 7.71 EPS for the current year.

Amazon.com News Roundup

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

• Positive Sentiment: Investor sentiment remains constructive after multiple articles highlighted Amazon’s strong AI and AWS growth potential, margin expansion case, and bullish analyst views, including recent buy/overweight ratings and price targets well above current levels. Article Title
• Positive Sentiment: Amazon’s latest quarterly revenue of $181.5 billion, up 16.6% year over year, reinforces the view that the business is still expanding at a healthy pace. Article Title
• Positive Sentiment: The stock is also being included in broader market “buy zone” and AI-leader discussions, suggesting traders still see Amazon as a favored large-cap growth name. Article Title

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group reissued a "buy" rating and set a $325.00 price target (up from $275.00) on shares of Amazon.com in a research report on Thursday, April 30th. Morgan Stanley raised their price target on shares of Amazon.com from $300.00 to $330.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. China Renaissance raised their price target on shares of Amazon.com from $300.00 to $326.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. KeyCorp raised their price target on shares of Amazon.com from $325.00 to $330.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Finally, Piper Sandler reissued an "overweight" rating and set a $315.00 price target (up from $260.00) on shares of Amazon.com in a research report on Thursday, April 30th. Fifty-seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $312.66.

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.

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