Wedbush Securities Inc. Has $107.56 Million Stake in Amazon.com, Inc. $AMZN

Key Points

• Wedbush Securities reduced its Amazon stake by 0.4% in the second quarter, selling 1,989 shares. It still held 451,310 shares worth approximately $107.6 million, representing 2.8% of its portfolio.
• Amazon reported quarterly revenue of $200.61 billion and EPS of $5.75, substantially exceeding analyst estimates; revenue increased 19.6% year over year.
• Wall Street remains positive on Amazon, with a consensus “Moderate Buy” rating and an average price target of $323.26, versus a reported share price of $253.54.

Wedbush Securities Inc. decreased its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 0.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 451,310 shares of the e-commerce giant's stock after selling 1,989 shares during the quarter. Amazon.com comprises about 2.8% of Wedbush Securities Inc.'s investment portfolio, making the stock its 5th biggest holding. Wedbush Securities Inc.'s holdings in Amazon.com were worth $107,565,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of AMZN. Okabena Investment Services Inc. boosted its stake in Amazon.com by 45.8% in the 2nd quarter. Okabena Investment Services Inc. now owns 13,369 shares of the e-commerce giant's stock worth $3,186,000 after purchasing an additional 4,201 shares in the last quarter. Spinnaker Trust raised its holdings in Amazon.com by 6.7% in the second quarter. Spinnaker Trust now owns 82,954 shares of the e-commerce giant's stock worth $19,771,000 after buying an additional 5,223 shares during the last quarter. Cullinan Associates Inc. lifted its stake in shares of Amazon.com by 7.2% in the second quarter. Cullinan Associates Inc. now owns 126,253 shares of the e-commerce giant's stock worth $30,091,000 after buying an additional 8,500 shares in the last quarter. Greenwood Capital Associates LLC grew its holdings in shares of Amazon.com by 1.3% during the second quarter. Greenwood Capital Associates LLC now owns 79,928 shares of the e-commerce giant's stock valued at $19,050,000 after buying an additional 1,053 shares during the last quarter. Finally, Trustmark Bank Trust Department grew its holdings in shares of Amazon.com by 7.0% during the second quarter. Trustmark Bank Trust Department now owns 60,671 shares of the e-commerce giant's stock valued at $14,460,000 after buying an additional 3,993 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Brian T. Olsavsky sold 6,172 shares of the firm's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $260.31, for a total value of $1,606,633.32. Following the transaction, the chief financial officer directly owned 109,207 shares of the company's stock, valued at approximately $28,427,674.17. This trade represents a 5.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew Garman sold 14,541 shares of Amazon.com stock in a transaction on Friday, August 21st. The shares were sold at an average price of $259.06, for a total value of $3,766,991.46. Following the transaction, the chief executive officer owned 17,794 shares in the company, valued at $4,609,713.64. This trade represents a 44.97% 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. In the last ninety days, insiders sold 71,589 shares of company stock valued at $18,568,785. 8.90% of the stock is currently owned by corporate insiders.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $253.54 on Tuesday. The firm's 50 day moving average price is $255.75 and its 200-day moving average price is $244.72. Amazon.com, Inc. has a twelve month low of $196.00 and a twelve month high of $287.20. The company has a quick ratio of 0.87, a current ratio of 1.03 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $2.73 trillion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 1.98 and a beta of 1.44.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its earnings results on Thursday, July 30th. The e-commerce giant reported $5.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $3.93. Amazon.com had a net margin of 17.44% and a return on equity of 18.00%. The company had revenue of $200.61 billion during the quarter, compared to analyst estimates of $197.03 billion. During the same period in the previous year, the business posted $1.68 earnings per share. The firm's quarterly revenue was up 19.6% compared to the same quarter last year. Equities research analysts expect that Amazon.com, Inc. will post 8.05 EPS for the current year.

Wall Street Analyst Weigh In

AMZN has been the topic of several analyst reports. Piper Sandler reaffirmed an "overweight" rating and issued a $320.00 price objective (up from $315.00) on shares of Amazon.com in a research report on Friday, July 31st. Wells Fargo & Company restated an "overweight" rating and issued a $338.00 price target (up from $328.00) on shares of Amazon.com in a research note on Thursday, September 3rd. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $320.00 price objective (up from $315.00) on shares of Amazon.com in a research report on Friday, July 31st. Roth Capital reiterated a "buy" rating and issued a $325.00 price objective on shares of Amazon.com in a report on Monday, August 3rd. Finally, Phillip Securities cut shares of Amazon.com from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, fifty-six have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Amazon.com presently has a consensus rating of "Moderate Buy" and a consensus price target of $323.26.

Trending Headlines about Amazon.com

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

• Positive Sentiment: Amazon’s advertising business is expanding beyond its own properties through a pilot partnership that lets select advertisers extend Amazon campaigns into ChatGPT. The initiative could broaden Amazon DSP’s reach and create a new revenue channel, although financial terms remain undisclosed. Amazon Is Becoming a Gateway to ChatGPT Ads
• Positive Sentiment: Zoox is entering San Francisco’s robotaxi market, increasing Amazon’s exposure to autonomous transportation and creating potential long-term upside if the service scales successfully. Amazon’s Zoox Enters San Francisco’s Crowded Robotaxi Market
• Positive Sentiment: Amazon completed a £4.242 billion sterling-denominated senior debt offering, supporting its U.K. operations and broader funding needs. The issuance improves liquidity flexibility but also adds to the company’s debt load. Amazon Boosts UK Presence With Sterling Debt Offering

Amazon.com Company Profile

Amazon.com, Inc is a global technology and e-commerce company that operates online marketplaces and provides a broad range of consumer products and services. Its retail business sells merchandise directly to customers and enables third-party sellers to offer products through Amazon's websites and applications. The company also operates physical stores and provides services such as digital content, subscriptions, and consumer devices, including Kindle and Echo products.

Amazon Web Services (AWS) provides cloud computing, storage, database, analytics, artificial intelligence, machine learning, and other technology services to businesses, governments, and organizations.

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