South Dakota Investment Council Acquires 25,584 Shares of Amazon.com, Inc. $AMZN

Key Points

• South Dakota Investment Council increased its Amazon stake by 4.6% in the first quarter, purchasing 25,584 additional shares and bringing its total to 579,068 shares valued at approximately $120.6 million.
• Wall Street remains broadly bullish on Amazon, with 56 Buy ratings, one Strong Buy, two Holds, and an average price target of $322.56. Institutional investors collectively own 72.2% of the company.
• Amazon reported strong quarterly results, including $5.75 in earnings per share versus the $1.82 consensus estimate and $200.61 billion in revenue, up 19.6% year over year; the stock was trading near $278 with a $3 trillion market capitalization.

South Dakota Investment Council increased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 4.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 579,068 shares of the e-commerce giant's stock after purchasing an additional 25,584 shares during the quarter. Amazon.com makes up approximately 2.3% of South Dakota Investment Council's portfolio, making the stock its 7th biggest position. South Dakota Investment Council's holdings in Amazon.com were worth $120,602,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMZN. MilWealth Group LLC lifted its holdings in shares of Amazon.com by 79.0% in the 4th quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant's stock valued at $41,000 after purchasing an additional 79 shares during the last quarter. Lifetime Wealth Management P.C. purchased a new position in Amazon.com during the 4th quarter worth approximately $45,000. Elkhorn Partners Limited Partnership increased its position in 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 buying an additional 180 shares during the period. Fairway Wealth LLC lifted its stake in Amazon.com by 95.6% in the fourth quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant's stock valued at $51,000 after buying an additional 108 shares during the last quarter. Finally, Bridge Generations Wealth Management LLC boosted its holdings in shares of Amazon.com by 2,330.0% in the third quarter. Bridge Generations Wealth Management LLC now owns 243 shares of the e-commerce giant's stock valued at $53,000 after acquiring an additional 233 shares during the period. Institutional investors and hedge funds own 72.20% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AMZN. Mizuho set a $330.00 target price on shares of Amazon.com and gave the company an "outperform" rating in a report on Friday, July 31st. Pivotal Research reiterated a "buy" rating and set a $333.00 price target (up from $320.00) on shares of Amazon.com in a research note on Friday, July 31st. Rosenblatt Securities lifted their price objective on shares of Amazon.com from $332.00 to $345.00 and gave the company a "buy" rating in a research note on Friday, July 31st. New Street Research upped their target price 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, Bank of America increased their target price on shares of Amazon.com from $310.00 to $320.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, fifty-six have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $322.56.

Insider Buying and Selling

In other news, CEO Matthew S. Garman sold 15,467 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $263.40, for a total transaction of $4,074,007.80. Following the sale, the chief executive officer owned 14,159 shares of the company's stock, valued at $3,729,480.60. The trade was a 52.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 firm's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $263.42, for a total value of $5,268,400.00. Following the completion of the transaction, the chief executive officer directly owned 2,205,766 shares of the company's stock, 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 sold a total of 77,867 shares of company stock valued at $20,532,092 in the last 90 days. 8.90% of the stock is owned by corporate insiders.

Key Headlines Impacting Amazon.com

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

• Positive Sentiment: Amazon’s recent earnings breakout is attracting continued investor interest. Renewed AWS growth and accelerating AI demand could support earnings momentum and a post-earnings drift higher. Amazon: A Post-Earnings Drift Candidate
• Positive Sentiment: Analysts and market commentators point to accelerating cloud revenue as a potential long-term driver that could help Amazon grow beyond its recently achieved $3 trillion market capitalization. Amazon Just Joined the $3 Trillion Club
• Positive Sentiment: A reported institutional and retail “Power Inflow” alert provided a short-term bullish trading signal, helping reinforce buying momentum in AMZN. Amazon Shares Up After Key Trading Signal
• Positive Sentiment: Amazon’s Zoox robotaxi subsidiary began paid rides in Las Vegas after receiving a federal commercial exemption, marking a meaningful commercialization milestone for the company’s autonomous-vehicle investment. Zoox to Begin Paid Rides
• Positive Sentiment: Amazon Pharmacy is offering eligible Medicare patients access to certain weight-loss drugs for $50 per month, potentially expanding customer engagement and the company’s healthcare presence. Amazon Pharmacy Rolls Out Low-Cost Weight-Loss Drugs

Amazon.com Trading Up 1.3%

NASDAQ:AMZN opened at $278.09 on Tuesday. Amazon.com, Inc. has a 1 year low of $196.00 and a 1 year high of $287.20. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.87 and a current ratio of 1.03. The stock has a fifty day moving average price of $246.69 and a two-hundred day moving average price of $237.78. The stock has a market capitalization of $3.00 trillion, a price-to-earnings ratio of 22.37, a PEG ratio of 1.83 and a beta of 1.45.

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

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.

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.

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