Sippican Capital Advisors Purchases 4,901 Shares of Amazon.com, Inc. $AMZN

Key Points

• Sippican Capital Advisors increased its Amazon stake by 87% in the first quarter, buying 4,901 more shares and bringing its total to 10,534 shares valued at about $2.19 million.
• Amazon reported strong quarterly results, with EPS of $2.78 versus estimates of $1.63 and revenue of $181.52 billion, up 16.6% year over year.
• Wall Street remains bullish on AMZN, with 57 analysts rating it a Buy and a consensus price target of $312.79, while several firms recently raised their targets.

Sippican Capital Advisors boosted its position in Amazon.com, Inc. (NASDAQ:AMZN) by 87.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,534 shares of the e-commerce giant's stock after acquiring an additional 4,901 shares during the quarter. Amazon.com accounts for 1.5% of Sippican Capital Advisors' holdings, making the stock its 25th largest holding. Sippican Capital Advisors' holdings in Amazon.com were worth $2,194,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Amazon.com by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 832,274,556 shares of the e-commerce giant's stock worth $158,348,557,000 after buying an additional 8,913,959 shares during the last quarter. State Street Corp raised its stake in Amazon.com by 1.8% during the fourth quarter. State Street Corp now owns 388,653,121 shares of the e-commerce giant's stock worth $89,708,913,000 after acquiring an additional 6,971,680 shares in the last quarter. Geode Capital Management LLC raised its stake in Amazon.com by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 225,120,994 shares of the e-commerce giant's stock worth $51,753,622,000 after acquiring an additional 2,479,324 shares in the last quarter. Norges Bank bought a new position in shares of Amazon.com in the fourth quarter worth about $32,868,735,000. Finally, Auto Owners Insurance Co boosted its stake in shares of Amazon.com by 27,376.7% in the 4th quarter. Auto Owners Insurance Co now owns 98,448,885 shares of the e-commerce giant's stock valued at $2,272,397,000 after purchasing an additional 98,090,585 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $245.98 on Wednesday. The company has a market capitalization of $2.65 trillion, a PE ratio of 29.42, a P/E/G ratio of 1.82 and a beta of 1.46. The company has a quick ratio of 1.01, a current ratio of 1.18 and a debt-to-equity ratio of 0.27. Amazon.com, Inc. has a twelve month low of $196.00 and a twelve month high of $278.56. The firm has a fifty day simple moving average of $253.99 and a 200 day simple moving average of $234.98.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $1.15. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The firm had revenue of $181.52 billion during the quarter, compared to the consensus estimate of $177.28 billion. During the same period last year, the business posted $1.59 EPS. The business's revenue was up 16.6% compared to the same quarter last year. On average, sell-side analysts forecast that Amazon.com, Inc. will post 7.75 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AMZN shares. Needham & Company LLC upped their price objective on shares of Amazon.com from $265.00 to $300.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Citigroup restated a "market outperform" rating on shares of Amazon.com in a research report on Monday, June 1st. TD Cowen reiterated a "buy" rating and set a $350.00 price target on shares of Amazon.com in a report on Tuesday, May 12th. Monness Crespi & Hardt increased their price target on Amazon.com from $280.00 to $315.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Finally, Morgan Stanley raised their price objective on Amazon.com from $300.00 to $330.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Fifty-seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $312.79.

Key Amazon.com News

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

• Positive Sentiment: Amazon’s new bond sale is being seen as a funding tool for AI infrastructure, reinforcing the company’s push into cloud computing and custom silicon while supporting future AWS growth. Fresh foods boost Amazon Now demand in Brazil, executive says
• Positive Sentiment: Several reports argued Amazon’s stock looks attractive or historically cheap, citing strong AWS growth prospects, Prime Day strength, and a broader bullish analyst backdrop. Amazon's Stock Is Historically Cheap. Now Is Your Perfect Buying Opportunity
• Positive Sentiment: Coverage also highlighted Amazon’s AI strategy as a competitive advantage, including custom chips, enterprise AI demand, and growing support from Wall Street. Silicon Starvation: Amazon Feasts on Legacy GPUs
• Neutral Sentiment: The bond offering may raise at least $25 billion, but some commentary noted it also signals higher leverage and adds another layer of debt to Amazon’s balance sheet as AI spending ramps. Amazon aims to raise $25 billion from bond sale, Bloomberg News reports

Insider Activity at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $239.77, for a total value of $239,770.00. Following the transaction, the chief executive officer directly owned 484,527 shares of the company's stock, valued at approximately $116,175,038.79. The trade was a 0.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 that occurred 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 transaction, the chief executive officer owned 2,205,766 shares in the company, valued at $581,042,879.72. The trade was a 0.90% decrease in their ownership of the stock. 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 have sold 195,774 shares of company stock worth $51,643,704 over the last quarter. 8.90% of the stock is owned by company 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.

Want to see what other hedge funds are holding AMZN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amazon.com, Inc. (NASDAQ:AMZN - Free Report).

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.