Spear Holdings RSC Ltd Acquires New Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Spear Holdings RSC Ltd has invested approximately $142.94 million in Amazon.com, acquiring 751,300 shares, making Amazon 11.0% of its portfolio.
• Amazon reported a strong quarterly performance with earnings per share of $1.59, surpassing estimates, and a revenue of $155.67 billion, up 8.6% year-over-year.
• Analysts have increased Amazon's target price, with HSBC raising it from $240.00 to $256.00, reflecting positive investor sentiment and a consensus target of $255.21 among analysts.

Spear Holdings RSC Ltd bought a new stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 751,300 shares of the e-commerce giant's stock, valued at approximately $142,942,000. Amazon.com comprises about 11.0% of Spear Holdings RSC Ltd's holdings, making the stock its 3rd largest position.

Several other hedge funds have also made changes to their positions in the business. Tallon Kerry Patrick acquired a new stake in shares of Amazon.com in the fourth quarter valued at about $800,000. LaFleur & Godfrey LLC raised its position in shares of Amazon.com by 1.8% in the fourth quarter. LaFleur & Godfrey LLC now owns 49,407 shares of the e-commerce giant's stock valued at $10,839,000 after buying an additional 860 shares during the last quarter. Brighton Jones LLC raised its position in shares of Amazon.com by 10.9% in the fourth quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant's stock valued at $885,478,000 after buying an additional 397,007 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in Amazon.com by 4.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant's stock valued at $5,495,000 after purchasing an additional 986 shares during the period. Finally, Bank Pictet & Cie Europe AG grew its holdings in Amazon.com by 2.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant's stock valued at $442,481,000 after purchasing an additional 54,987 shares during the period. Institutional investors and hedge funds own 72.20% of the company's stock.

Analyst Ratings Changes

AMZN has been the subject of several analyst reports. Tigress Financial upped their target price on shares of Amazon.com from $290.00 to $305.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Telsey Advisory Group increased their price objective on shares of Amazon.com from $235.00 to $265.00 and gave the company an "outperform" rating in a research note on Friday. Roth Capital set a $250.00 target price on shares of Amazon.com and gave the stock a "buy" rating in a report on Tuesday, July 8th. Citizens Jmp assumed coverage on shares of Amazon.com in a report on Thursday, July 10th. They issued a "strong-buy" rating on the stock. Finally, Westpark Capital reissued a "buy" rating and set a $280.00 target price on shares of Amazon.com in a research note on Friday. Three research analysts have rated the stock with a hold rating, forty-six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $260.85.

Insiders Place Their Bets

In other news, insider Jeffrey P. Bezos sold 2,643,142 shares of the business's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $230.43, for a total transaction of $609,059,211.06. Following the completion of the transaction, the insider directly owned 883,779,901 shares in the company, valued at approximately $203,649,402,587.43. The trade was a 0.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders sold 25,099,537 shares of company stock worth $5,674,394,548. Insiders own 9.70% of the company's stock.

Amazon.com Price Performance

Shares of NASDAQ:AMZN traded down $19.36 on Friday, hitting $214.75. The stock had a trading volume of 122,007,379 shares, compared to its average volume of 44,843,602. Amazon.com, Inc. has a twelve month low of $151.61 and a twelve month high of $242.52. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.05. The firm's 50 day moving average price is $217.93 and its 200-day moving average price is $209.23. The company has a market capitalization of $2.28 trillion, a price-to-earnings ratio of 34.98, a price-to-earnings-growth ratio of 1.71 and a beta of 1.33.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.37. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The business had revenue of $167.70 billion during the quarter, compared to analysts' expectations of $161.80 billion. During the same period in the previous year, the business posted $1.26 earnings per share. The firm's revenue for the quarter was up 13.3% compared to the same quarter last year. On average, equities research analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Amazon.com Profile

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.