Rockbridge Asset Management LLC Invests $14.62 Million in Amazon.com, Inc. $AMZN

Rockbridge Asset Management LLC acquired a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund acquired 61,330 shares of the e-commerce giant's stock, valued at approximately $14,617,000. Amazon.com accounts for approximately 9.4% of Rockbridge Asset Management LLC's investment portfolio, making the stock its 2nd biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. Red Crane Wealth Management LLC lifted its holdings in shares of Amazon.com by 2.3% in the first quarter. Red Crane Wealth Management LLC now owns 1,663 shares of the e-commerce giant's stock worth $346,000 after buying an additional 38 shares in the last quarter. Robinson Smith Wealth Advisors LLC boosted its holdings in Amazon.com by 0.7% in the 1st quarter. Robinson Smith Wealth Advisors LLC now owns 5,509 shares of the e-commerce giant's stock valued at $1,147,000 after purchasing an additional 40 shares during the period. Sfam LLC increased its holdings in shares of Amazon.com by 3.4% in the first quarter. Sfam LLC now owns 1,224 shares of the e-commerce giant's stock worth $255,000 after purchasing an additional 40 shares during the period. Measured Risk Portfolios Inc. increased its holdings in shares of Amazon.com by 3.4% in the first quarter. Measured Risk Portfolios Inc. now owns 1,206 shares of the e-commerce giant's stock worth $251,000 after purchasing an additional 40 shares during the period. Finally, CoreFirst Bank & Trust raised its position in shares of Amazon.com by 1.1% in the first quarter. CoreFirst Bank & Trust now owns 3,620 shares of the e-commerce giant's stock worth $754,000 after buying an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Amazon.com Trading Down 1.3%

Shares of AMZN opened at $253.54 on Tuesday. Amazon.com, Inc. has a fifty-two week low of $196.00 and a fifty-two week high of $287.20. The firm has a market cap of $2.73 trillion, a price-to-earnings ratio of 20.40, a PEG ratio of 1.98 and a beta of 1.44. The firm has a 50 day moving average price of $255.75 and a 200-day moving average price of $244.72. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.87 and a current ratio of 1.03.

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

Insider Transactions at Amazon.com

In related news, SVP David Zapolsky sold 9,258 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $259.77, for a total transaction of $2,404,950.66. Following the completion of the sale, the senior vice president directly owned 41,190 shares in the company, valued at $10,699,926.30. This represents a 18.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew S. Garman sold 14,541 shares of the business's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $259.06, for a total value of $3,766,991.46. Following the completion of the sale, the chief executive officer owned 17,794 shares of the company's stock, valued at $4,609,713.64. The trade was a 44.97% 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. In the last 90 days, insiders have sold 71,589 shares of company stock valued at $18,568,785. 8.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AMZN has been the subject of several recent analyst reports. DA Davidson restated a "neutral" rating and set a $250.00 target price on shares of Amazon.com in a research report on Friday, July 31st. Wells Fargo & Company reiterated an "overweight" rating and set a $338.00 price target (up from $328.00) on shares of Amazon.com in a research report on Thursday, September 3rd. Morgan Stanley restated an "overweight" rating and issued a $335.00 price objective (up from $330.00) on shares of Amazon.com in a research report on Friday, July 31st. BMO Capital Markets reiterated an "outperform" rating and set a $360.00 target price (up from $355.00) on shares of Amazon.com in a research report on Tuesday, July 28th. Finally, Rosenblatt Securities began coverage on shares of Amazon.com in a report on Thursday, August 20th. They issued a "buy" rating and a $335.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, fifty-six have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $323.26.

Key Stories Impacting Amazon.com

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

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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