Maridea Wealth Management LLC Acquires 2,606 Shares of Amazon.com, Inc. $AMZN

Key Points

• Maridea Wealth Management LLC increased its Amazon stake by 5.7% in the first quarter, buying 2,606 shares and bringing its total holding to 48,032 shares valued at about $10.0 million.
• Amazon reported strong first-quarter earnings, with EPS of $2.78 versus expectations of $1.63 and revenue of $181.52 billion, up 16.6% year over year. The company also posted solid profitability metrics, including a 12.22% net margin.
• Wall Street sentiment remains positive, with several firms raising price targets and 57 analysts rating the stock a Buy. Amazon currently carries a consensus rating of Moderate Buy and an average price target of $312.79.

Maridea Wealth Management LLC increased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 5.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,032 shares of the e-commerce giant's stock after buying an additional 2,606 shares during the period. Amazon.com accounts for 1.5% of Maridea Wealth Management LLC's investment portfolio, making the stock its 14th biggest position. Maridea Wealth Management LLC's holdings in Amazon.com were worth $10,004,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Amazon.com in the fourth quarter valued at $32,868,735,000. Auto Owners Insurance Co lifted its holdings in Amazon.com by 27,376.7% during the 4th 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 in the last quarter. J. Stern & Co. LLP lifted its holdings in Amazon.com by 20,598.0% during the 4th quarter. J. Stern & Co. LLP now owns 87,982,814 shares of the e-commerce giant's stock worth $20,308,193,000 after purchasing an additional 87,557,736 shares in the last quarter. Nuveen LLC bought a new position in Amazon.com in the 1st quarter worth about $11,674,091,000. Finally, Cardano Risk Management B.V. grew its holdings in Amazon.com by 879.4% during the 4th quarter. Cardano Risk Management B.V. now owns 27,862,400 shares of the e-commerce giant's stock valued at $6,431,199,000 after buying an additional 25,017,588 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $242.67 on Friday. Amazon.com, Inc. has a 12 month low of $196.00 and a 12 month high of $278.56. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $2.61 trillion, a price-to-earnings ratio of 29.03, a PEG ratio of 1.81 and a beta of 1.46. The business has a 50-day moving average of $254.57 and a 200-day moving average of $234.57.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share 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 business had revenue of $181.52 billion for the quarter, compared to the consensus estimate of $177.28 billion. During the same period last year, the firm posted $1.59 earnings per share. Amazon.com's quarterly revenue was up 16.6% on a year-over-year basis. Sell-side analysts expect that Amazon.com, Inc. will post 7.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on AMZN. Benchmark upped their price target on Amazon.com from $275.00 to $370.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Roth Mkm raised their price objective on shares of Amazon.com from $285.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Wolfe Research reaffirmed an "outperform" rating and set a $320.00 price objective (up from $245.00) on shares of Amazon.com in a research note on Thursday, April 30th. Maxim Group upped their target price on shares of Amazon.com from $290.00 to $315.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Finally, Susquehanna reissued a "positive" rating and issued a $325.00 price target (up from $300.00) on shares of Amazon.com in a report on Thursday, April 30th. Fifty-seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Amazon.com currently has a consensus rating of "Moderate Buy" and an average price target of $312.79.

Key Amazon.com News

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

• Positive Sentiment: Amazon said its Leo satellite network has enough satellites to begin initial broadband service this year, opening a new growth opportunity in satellite internet. Reuters: Amazon to start initial Leo internet service this year as network nears 400 satellites
• Positive Sentiment: Amazon is expanding its AI strategy with custom device chips and broader AWS AI capabilities, which could support future margins and growth. CNBC: Amazon is designing its own AI chips for Echo, Fire TV and future devices
• Positive Sentiment: Prime Day-related reports pointed to strong online shopping demand, reinforcing confidence in Amazon’s retail momentum heading into earnings. Yahoo Finance/Reuters: Online Spending Rises 5.3% on First Day of Amazon’s Prime Day

Insider Activity at Amazon.com

In other news, CEO Matthew S. Garman sold 15,467 shares of the 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 transaction, the chief executive officer owned 14,159 shares of the company's stock, valued at $3,729,480.60. This represents a 52.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP David Zapolsky sold 9,270 shares of Amazon.com stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $268.53, for a total transaction of $2,489,273.10. Following the sale, the senior vice president directly owned 41,190 shares of the company's stock, valued at $11,060,750.70. This represents a 18.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 195,774 shares of company stock worth $51,643,704 over the last quarter. 8.90% of the stock is currently owned by corporate insiders.

Amazon.com Company 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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