Skylands Capital LLC Acquires 4,910 Shares of Amazon.com, Inc. $AMZN

Key Points

• Skylands Capital LLC increased its Amazon stake by 35.4% in the first quarter, buying 4,910 additional shares and bringing its total holding to 18,785 shares worth about $3.9 million.
• Recent headlines around Amazon were largely positive, including progress on its Leo satellite internet network, expansion of its AI chip and AWS strategy, and strong Prime Day-related online spending.
• Amazon continues to receive bullish Wall Street support, with 57 analysts rating it a Buy and a consensus price target of $312.79; the company also recently beat earnings and revenue estimates for the quarter.

Skylands Capital LLC lifted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 35.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,785 shares of the e-commerce giant's stock after purchasing an additional 4,910 shares during the period. Skylands Capital LLC's holdings in Amazon.com were worth $3,912,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AMZN. MilWealth Group LLC raised its stake in Amazon.com by 79.0% during the 4th 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 stake in shares of Amazon.com during the fourth quarter valued at approximately $45,000. Elkhorn Partners Limited Partnership raised its position in shares of Amazon.com by 900.0% during the fourth quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant's stock worth $46,000 after purchasing an additional 180 shares during the period. Fairway Wealth LLC lifted its holdings in shares of 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 purchasing an additional 108 shares in the last quarter. Finally, Prudent Man Investment Management Inc. lifted its holdings in shares of 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 purchasing an additional 107 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Key Headlines Impacting Amazon.com

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AMZN shares. Phillip Securities upgraded shares of Amazon.com from a "moderate buy" rating to a "buy" rating and set a $280.00 price objective on the stock in a report on Wednesday, May 13th. Sanford C. Bernstein restated an "outperform" rating and issued a $315.00 target price (up from $300.00) on shares of Amazon.com in a report on Thursday, April 30th. Arete Research raised their price target on shares of Amazon.com from $301.00 to $310.00 and gave the company a "buy" rating in a research report on Monday, May 18th. Evercore boosted their price objective on Amazon.com from $285.00 to $315.00 and gave the stock an "outperform" rating in a report on Thursday, April 30th. Finally, Rosenblatt Securities increased their price objective on Amazon.com from $296.00 to $332.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Fifty-seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $312.79.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $242.67 on Monday. Amazon.com, Inc. has a 1 year low of $196.00 and a 1 year high of $278.56. The firm has a market cap of $2.61 trillion, a PE ratio of 29.03, a P/E/G ratio of 1.81 and a beta of 1.46. The stock has a fifty day moving average price of $254.57 and a 200-day moving average price of $234.65. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.01.

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. The company had revenue of $181.52 billion for the quarter, compared to the consensus estimate of $177.28 billion. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The firm's quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.59 EPS. Equities research analysts anticipate that Amazon.com, Inc. will post 7.75 EPS for the current year.

Insider Buying and Selling

In other news, SVP David Zapolsky sold 9,270 shares of the company's stock in a transaction dated 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 in the company, valued at $11,060,750.70. This represents a 18.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew R. Jassy sold 31,352 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $275.00, for a total transaction of $8,621,800.00. Following the completion of the sale, the chief executive officer directly owned 2,175,766 shares in the company, valued at approximately $598,335,650. The trade was a 1.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 195,774 shares of company stock valued at $51,643,704 over the last three months. Insiders own 8.90% of the company's stock.

About Amazon.com

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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