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Krane Financial Solutions LLC Takes $486,000 Position in Amazon.com, Inc. $AMZN

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Key Points

  • Krane Financial Solutions opened a new Amazon position worth approximately $486,000 by purchasing 2,335 shares. Institutional investors collectively own 72.2% of Amazon’s stock.
  • Amazon reported strong quarterly results, with $5.75 EPS and $200.61 billion in revenue, surpassing analyst estimates; revenue increased 19.6% year over year.
  • Wall Street remains bullish, with a consensus “Moderate Buy” rating and an average price target of $322.56 versus the reported share price of $265.13, although rising AI-related capital expenditures and insider stock sales remain potential concerns.
  • Five stocks to consider instead of Amazon.com.

Krane Financial Solutions LLC purchased a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,335 shares of the e-commerce giant's stock, valued at approximately $486,000.

A number of other hedge funds have also recently modified their holdings of AMZN. MilWealth Group LLC raised its stake in shares of Amazon.com by 79.0% in the fourth quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant's stock worth $41,000 after buying an additional 79 shares during the period. Lifetime Wealth Management P.C. bought a new position in shares of Amazon.com during the 4th quarter valued at approximately $45,000. Elkhorn Partners Limited Partnership grew its stake in shares of Amazon.com by 900.0% during the 4th quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant's stock valued at $46,000 after acquiring an additional 180 shares during the period. Fairway Wealth LLC increased its holdings in Amazon.com by 95.6% in the 4th quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant's stock worth $51,000 after acquiring an additional 108 shares in the last quarter. Finally, Prudent Man Investment Management Inc. increased its holdings in Amazon.com by 87.7% in the 4th quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant's stock worth $53,000 after acquiring an additional 107 shares in the last quarter. Institutional investors own 72.20% of the company's stock.

Amazon.com Stock Performance

Shares of NASDAQ AMZN opened at $265.13 on Friday. The company has a market cap of $2.86 trillion, a P/E ratio of 21.33, a P/E/G ratio of 1.78 and a beta of 1.45. Amazon.com, Inc. has a 52-week low of $196.00 and a 52-week high of $287.20. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.87 and a current ratio of 1.03. The firm's fifty day moving average is $247.57 and its two-hundred day moving average is $238.49.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AMZN shares. Barclays restated an "overweight" rating and set a $365.00 price objective (up from $330.00) on shares of Amazon.com in a research report on Friday, July 31st. Roth Capital reiterated a "buy" rating and issued a $325.00 price target on shares of Amazon.com in a research note on Monday, August 3rd. KeyCorp raised their price target on Amazon.com from $335.00 to $350.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Weiss Ratings restated a "buy (b)" rating on shares of Amazon.com in a research report on Monday, August 3rd. Finally, HSBC reaffirmed a "buy" rating and issued a $310.00 price objective on shares of Amazon.com in a research note on Friday, July 31st. One research 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's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $322.56.

Read Our Latest Report on Amazon.com

More Amazon.com News

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

Insider Buying and Selling

In related news, VP Shelley Reynolds sold 2,363 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $262.38, for a total transaction of $620,003.94. Following the completion of the sale, the vice president directly owned 119,780 shares of the company's stock, valued at approximately $31,427,876.40. This trade represents a 1.93% 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 on Thursday, May 21st. The stock was sold at an average price of $263.42, for a total value of $5,268,400.00. Following the completion of the sale, the chief executive officer owned 2,205,766 shares in the company, valued at approximately $581,042,879.72. The trade was a 0.90% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 62,650 shares of company stock valued at $16,535,457 over the last 90 days. 8.90% of the stock is currently owned by insiders.

Amazon.com 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.

See Also

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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