Legacy Edge Advisors LLC Makes New $4.39 Million Investment in Amazon.com, Inc. $AMZN

Key Points

• Legacy Edge Advisors LLC bought a new position in Amazon during the fourth quarter, acquiring 19,001 shares valued at about $4.39 million.
• Institutional interest in AMZN remains strong, with several hedge funds and investors adding stakes and 72.2% of the stock now held by institutions and hedge funds.
• Analysts are broadly upbeat on Amazon, with recent price-target hikes and a consensus rating of Moderate Buy; the average target price is $312.66.

Legacy Edge Advisors LLC purchased a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 19,001 shares of the e-commerce giant's stock, valued at approximately $4,386,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMZN. American Capital Advisory LLC grew its holdings in shares of Amazon.com by 63.9% in the third quarter. American Capital Advisory LLC now owns 8,081 shares of the e-commerce giant's stock valued at $1,774,000 after purchasing an additional 3,152 shares during the period. Compagnie Lombard Odier SCmA purchased a new stake in shares of Amazon.com in the third quarter valued at about $451,642,000. Narwhal Capital Management grew its holdings in shares of Amazon.com by 2.3% in the fourth quarter. Narwhal Capital Management now owns 216,606 shares of the e-commerce giant's stock valued at $49,997,000 after purchasing an additional 4,854 shares during the period. Weaver Capital Management LLC grew its holdings in shares of Amazon.com by 13.6% in the fourth quarter. Weaver Capital Management LLC now owns 39,264 shares of the e-commerce giant's stock valued at $9,063,000 after purchasing an additional 4,713 shares during the period. Finally, Ethos Financial Group LLC grew its holdings in shares of Amazon.com by 9.6% in the fourth quarter. Ethos Financial Group LLC now owns 36,485 shares of the e-commerce giant's stock valued at $8,421,000 after purchasing an additional 3,196 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMZN has been the subject of a number of analyst reports. Morgan Stanley upped their price objective on shares of Amazon.com from $300.00 to $330.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Sanford C. Bernstein reissued an "outperform" rating and issued a $315.00 price objective (up from $300.00) on shares of Amazon.com in a report on Thursday, April 30th. Weiss Ratings raised shares of Amazon.com from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 6th. New Street Research upped their price objective on shares of Amazon.com from $280.00 to $350.00 and gave the company a "buy" rating in a report on Monday, May 4th. Finally, Benchmark upped their price objective on shares of Amazon.com from $275.00 to $370.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Fifty-seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $312.66.

Insider Activity at Amazon.com

In other news, CEO Matthew S. Garman sold 11,475 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $262.66, for a total transaction of $3,014,023.50. Following the sale, the chief executive officer owned 11,430 shares of the company's stock, valued at approximately $3,002,203.80. This represents a 50.10% decrease in their ownership of the stock. The sale was disclosed in a document filed 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, Director Jonathan Rubinstein sold 3,849 shares of the stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $260.00, for a total transaction of $1,000,740.00. Following the sale, the director directly owned 78,654 shares in the company, valued at $20,450,040. This represents a 4.67% 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. Over the last ninety days, insiders sold 136,124 shares of company stock worth $35,801,387. 8.90% of the stock is owned by corporate insiders.

Amazon.com Stock Performance

NASDAQ AMZN opened at $266.32 on Tuesday. The firm's 50-day moving average is $240.63 and its two-hundred day moving average is $231.82. Amazon.com, Inc. has a 12 month low of $196.00 and a 12 month high of $278.56. 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 stock has a market capitalization of $2.86 trillion, a P/E ratio of 31.86, a PEG ratio of 1.99 and a beta of 1.46.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $1.15. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The company had revenue of $181.52 billion for the quarter, compared to analysts' expectations of $177.28 billion. During the same quarter in the prior year, the company posted $1.59 earnings per share. Amazon.com's revenue for the quarter was up 16.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Amazon.com, Inc. will post 7.71 earnings per share for the current year.

More Amazon.com News

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

• Positive Sentiment: Multiple recent articles argue Amazon is one of the best growth stocks to own, highlighting accelerating business momentum, strong sales growth, and the company’s ability to keep compounding over time. Article Title
• Positive Sentiment: Bank of America reiterated a Buy rating after Amazon’s Alexa for Shopping debut, suggesting the new AI-powered shopping feature could become a major commerce platform and add meaningful long-term revenue. Article Title
• Positive Sentiment: Investor commentary is focusing on AI momentum, AWS re-acceleration, and strong ad and subscription growth, with technical traders also noting supportive chart action and call buying near support. Article Title
• Positive Sentiment: Amazon’s heavy spending on AI infrastructure is being framed as a long-term catalyst, with investors betting the company’s scale in data centers and cloud could strengthen its competitive edge. Article Title

Amazon.com 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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