Knuff & Co LLC Takes Position in Amazon.com, Inc. $AMZN

Key Points

• Knuff & Co LLC acquired 43,960 Amazon shares worth approximately $10.5 million in the second quarter, making Amazon its 11th-largest holding and representing 2.7% of its portfolio.
• Amazon reported strong quarterly results, with $5.75 in earnings per share and $200.61 billion in revenue, exceeding analyst estimates; revenue rose 19.6% year over year.
• Analysts maintain a favorable outlook, with 56 Buy ratings, one Strong Buy, and a consensus price target of $323.26 versus the stock’s reported price of $253.54. Institutional investors own 72.2% of Amazon’s shares.

Knuff & Co LLC acquired a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 43,960 shares of the e-commerce giant's stock, valued at approximately $10,477,000. Amazon.com comprises 2.7% of Knuff & Co LLC's investment portfolio, making the stock its 11th largest holding.

A number of other large investors also recently bought and sold shares of AMZN. Northstar Financial Companies Inc. acquired a new position in Amazon.com during the 2nd quarter worth $3,376,000. Gryphon Financial Partners LLC raised its holdings in Amazon.com by 7.5% in the first quarter. Gryphon Financial Partners LLC now owns 73,085 shares of the e-commerce giant's stock valued at $15,221,000 after acquiring an additional 5,125 shares in the last quarter. First Citizens Bank & Trust Co. lifted its stake in Amazon.com by 1.7% in the first quarter. First Citizens Bank & Trust Co. now owns 303,862 shares of the e-commerce giant's stock worth $63,285,000 after acquiring an additional 5,104 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Amazon.com in the second quarter worth approximately $2,261,000. Finally, Narwhal Capital Management grew its holdings in Amazon.com by 2.3% during the 4th quarter. Narwhal Capital Management now owns 216,606 shares of the e-commerce giant's stock worth $49,997,000 after acquiring an additional 4,854 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Amazon.com Stock Performance

Shares of AMZN stock opened at $253.54 on Tuesday. Amazon.com, Inc. has a 52-week low of $196.00 and a 52-week high of $287.20. 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 stock's 50-day moving average price is $255.75 and its 200 day moving average price is $244.72. The stock has a market capitalization of $2.73 trillion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 1.98 and a beta of 1.44.

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Oppenheimer reaffirmed an "outperform" rating on shares of Amazon.com in a research report on Friday, July 31st. Mizuho set a $330.00 price target on Amazon.com and gave the stock an "outperform" rating in a report on Friday, July 31st. Royal Bank Of Canada increased their price objective on Amazon.com from $320.00 to $330.00 and gave the company an "outperform" rating in a report on Friday, July 31st. Arete Research raised their target price on Amazon.com from $301.00 to $310.00 and gave the stock a "buy" rating in a research report on Monday, May 18th. Finally, TD Cowen reaffirmed a "buy" rating and issued a $350.00 price target (up from $340.00) on shares of Amazon.com in a report on Friday, July 31st. One 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $323.26.

Key Amazon.com News

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

• Positive Sentiment: Amazon’s advertising business is expanding beyond its own properties through a pilot partnership that lets select advertisers extend Amazon campaigns into ChatGPT. The initiative could broaden Amazon DSP’s reach and create a new revenue channel, although financial terms remain undisclosed. Amazon Is Becoming a Gateway to ChatGPT Ads
• Positive Sentiment: Zoox is entering San Francisco’s robotaxi market, increasing Amazon’s exposure to autonomous transportation and creating potential long-term upside if the service scales successfully. Amazon’s Zoox Enters San Francisco’s Crowded Robotaxi Market
• Positive Sentiment: Amazon completed a £4.242 billion sterling-denominated senior debt offering, supporting its U.K. operations and broader funding needs. The issuance improves liquidity flexibility but also adds to the company’s debt load. Amazon Boosts UK Presence With Sterling Debt Offering

Insider Activity

In other Amazon.com news, CEO Douglas J. Herrington sold 1,000 shares of the company's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $254.77, for a total value of $254,770.00. Following the sale, the chief executive officer owned 475,681 shares of the company's stock, valued at $121,189,248.37. This represents a 0.21% decrease in their ownership of the stock. The sale was disclosed in a document filed 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, VP Shelley Reynolds sold 2,343 shares of the business's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $259.01, for a total value of $606,860.43. Following the completion of the transaction, the vice president directly owned 119,780 shares of the company's stock, valued at approximately $31,024,217.80. This trade represents a 1.92% 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. Insiders have sold 71,589 shares of company stock valued at $18,568,785 in the last quarter. Insiders own 8.90% of the company's stock.

Amazon.com Profile

Amazon.com, Inc is a global technology and e-commerce company that operates online marketplaces and provides a broad range of consumer products and services. Its retail business sells merchandise directly to customers and enables third-party sellers to offer products through Amazon's websites and applications. The company also operates physical stores and provides services such as digital content, subscriptions, and consumer devices, including Kindle and Echo products.

Amazon Web Services (AWS) provides cloud computing, storage, database, analytics, artificial intelligence, machine learning, and other technology services to businesses, governments, and organizations.

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