Sun Financial Inc Makes New $2.30 Million Investment in Amazon.com, Inc. $AMZN

Key Points

• Sun Financial Inc opened a new position in Amazon during the fourth quarter, buying 9,955 shares valued at about $2.3 million. The stake makes Amazon 1.3% of Sun Financial’s portfolio and its 20th largest holding.
• Amazon continues to draw bullish analyst coverage, with several firms raising price targets and maintaining buy/overweight ratings. The stock now carries a consensus rating of Moderate Buy and a consensus target price of $312.66.
• The company’s latest earnings showed strong growth, with quarterly revenue of $181.5 billion up 16.6% year over year and EPS of $2.78 beating estimates. Despite upbeat fundamentals, insiders have sold shares recently, including CEO Matthew S. Garman and VP Shelley Reynolds.

Sun Financial Inc acquired a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 9,955 shares of the e-commerce giant's stock, valued at approximately $2,298,000. Amazon.com accounts for 1.3% of Sun Financial Inc's holdings, making the stock its 20th largest holding.

Several other large investors have also recently added to or reduced their stakes in the company. MilWealth Group LLC increased its position 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. KPP Advisory Services LLC increased its position in Amazon.com by 1.1% during the 4th quarter. KPP Advisory Services LLC now owns 51,096 shares of the e-commerce giant's stock worth $11,794,000 after buying an additional 548 shares during the period. Avidian Wealth Enterprises LLC increased its position in Amazon.com by 4.0% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 83,709 shares of the e-commerce giant's stock worth $19,322,000 after buying an additional 3,209 shares during the period. Cypress Point Wealth Management LLC grew its holdings in shares of Amazon.com by 43.0% during the 4th quarter. Cypress Point Wealth Management LLC now owns 1,823 shares of the e-commerce giant's stock worth $421,000 after purchasing an additional 548 shares in the last quarter. Finally, Long Run Wealth Advisors LLC grew its holdings in shares of Amazon.com by 0.5% during the 4th quarter. Long Run Wealth Advisors LLC now owns 19,883 shares of the e-commerce giant's stock worth $4,589,000 after purchasing an additional 102 shares in the last quarter. Institutional investors own 72.20% of the company's stock.

Amazon.com News Roundup

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

• Positive Sentiment: Investor sentiment remains constructive after multiple articles highlighted Amazon’s strong AI and AWS growth potential, margin expansion case, and bullish analyst views, including recent buy/overweight ratings and price targets well above current levels. Article Title
• Positive Sentiment: Amazon’s latest quarterly revenue of $181.5 billion, up 16.6% year over year, reinforces the view that the business is still expanding at a healthy pace. Article Title
• Positive Sentiment: The stock is also being included in broader market “buy zone” and AI-leader discussions, suggesting traders still see Amazon as a favored large-cap growth name. Article Title

Insiders Place Their Bets

In related news, CEO Matthew S. Garman sold 15,467 shares of the firm's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $263.40, for a total value of $4,074,007.80. Following the sale, the chief executive officer directly owned 14,159 shares of the company's stock, valued at $3,729,480.60. This trade represents a 52.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Shelley Reynolds sold 2,363 shares of the firm's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $262.38, for a total value of $620,003.94. Following the completion of the sale, the vice president directly owned 119,780 shares in the company, valued at $31,427,876.40. This trade represents a 1.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 195,774 shares of company stock valued at $51,552,494 over the last ninety days. 8.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Amazon.com from $280.00 to $330.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Roth Mkm increased their target price on Amazon.com from $285.00 to $300.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft increased their target price on Amazon.com from $290.00 to $315.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Bank of America increased their target price on Amazon.com from $298.00 to $310.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Finally, William Blair reissued an "outperform" rating on shares of Amazon.com in a report on Thursday, April 9th. Fifty-seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $312.66.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $265.29 on Wednesday. The stock's 50-day simple moving average is $241.79 and its 200 day simple moving average is $231.93. The firm has a market capitalization of $2.85 trillion, a PE ratio of 31.73, a price-to-earnings-growth ratio of 1.99 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.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share for the quarter, beating the consensus estimate of $1.63 by $1.15. The business had revenue of $181.52 billion for the quarter, compared to analyst estimates of $177.28 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.Amazon.com's revenue was up 16.6% compared to the same quarter last year. During the same period last year, the firm posted $1.59 earnings per share. On average, analysts anticipate that Amazon.com, Inc. will post 7.71 EPS for the current fiscal year.

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.

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.