Amazon.com, Inc. $AMZN Stock Position Boosted by Victory Financial Group LLC

Victory Financial Group LLC grew its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 22.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,849 shares of the e-commerce giant’s stock after buying an additional 6,483 shares during the quarter. Amazon.com accounts for about 0.8% of Victory Financial Group LLC’s investment portfolio, making the stock its 22nd biggest holding. Victory Financial Group LLC’s holdings in Amazon.com were worth $8,932,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp raised its stake in shares of Amazon.com by 5.5% in the 2nd quarter. State Street Corp now owns 411,848,346 shares of the e-commerce giant’s stock valued at $95,504,904,000 after purchasing an additional 21,398,025 shares during the period. Bank of America Corp DE bought a new stake in shares of Amazon.com in the second quarter valued at about $22,218,775,000. Bank of New York Mellon Corp acquired a new position in shares of Amazon.com during the second quarter worth about $16,341,405,000. Amundi boosted its position in shares of Amazon.com by 3.9% during the second quarter. Amundi now owns 63,822,242 shares of the e-commerce giant’s stock worth $15,211,393,000 after buying an additional 2,421,739 shares during the period. Finally, Legal & General Group Plc bought a new position in shares of Amazon.com during the second quarter worth about $12,831,376,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Stock Down 0.3%

Shares of NASDAQ AMZN traded down $0.78 during mid-day trading on Friday, hitting $266.66. The company had a trading volume of 31,035,709 shares, compared to its average volume of 50,501,436. The company has a current ratio of 0.99, a quick ratio of 0.82 and a debt-to-equity ratio of 0.28. The firm has a 50-day simple moving average of $254.82 and a two-hundred day simple moving average of $244.32. The company has a market capitalization of $2.88 trillion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 2.03 and a beta of 1.49. Amazon.com, Inc. has a one year low of $196.00 and a one year high of $287.20.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 29th. The e-commerce giant reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.97 by ($0.08). Amazon.com had a return on equity of 15.72% and a net margin of 16.90%. The company had revenue of $201.94 billion for the quarter, compared to the consensus estimate of $202.22 billion. During the same quarter in the previous year, the company posted $1.95 EPS. The business’s revenue was up 12.1% on a year-over-year basis. On average, equities analysts expect that Amazon.com, Inc. will post 7.80 EPS for the current year.

Amazon.com News Roundup

Investors following AMZN have been watching these news items:

• Positive Sentiment: Amazon’s planned World Product Graph would catalog products available across the internet, including items Amazon doesn’t stock. If it makes Amazon a starting point for more shopping searches, it could strengthen product discovery and attract advertising revenue. Reuters article
• Neutral Sentiment: A planned launch of 40 Amazon Leo satellites could advance its satellite-internet service, although the launch itself does not establish the service’s eventual commercial returns. TipRanks article
• Negative Sentiment: United Airlines’ CEO reportedly criticized Amazon Leo as a mistake while praising Starlink’s competitive position, highlighting execution and competition risks for Amazon’s satellite initiative. Benzinga article

Insider Transactions at Amazon.com

In other Amazon.com news, CEO Matthew S. Garman sold 14,541 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $259.06, for a total transaction of $3,766,991.46. Following the transaction, the chief executive officer owned 17,794 shares of the company’s stock, valued at $4,609,713.64. The trade was a 44.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP David Zapolsky sold 9,258 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $259.77, for a total value of $2,404,950.66. Following the sale, the senior vice president owned 41,190 shares in the company, valued at approximately $10,699,926.30. This represents a 18.35% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 71,589 shares of company stock valued at $18,545,595. 8.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AMZN has been the topic of a number of recent research reports. Pivotal Research reissued a “buy” rating and issued a $333.00 target price (up from $320.00) on shares of Amazon.com in a research report on Friday, July 31st. Susquehanna restated a “positive” rating on shares of Amazon.com in a research note on Friday, October 30th. HSBC reaffirmed a “buy” rating and set a $310.00 price target on shares of Amazon.com in a research report on Friday, July 31st. Cantor Fitzgerald decreased their price target on shares of Amazon.com from $310.00 to $280.00 and set an “overweight” rating for the company in a research note on Friday, October 30th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $250.00 price objective on shares of Amazon.com in a report on Friday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, fifty-five have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Amazon.com Company Profile

Amazon.com, Inc. is a technology and e-commerce company founded by Jeff Bezos in 1994 as an online bookstore. It has since grown into a global business serving consumers, sellers, developers, enterprises and content creators. Amazon operates online stores and marketplaces, where it sells products directly and enables third-party sellers to reach customers. Its other businesses include Amazon Web Services, which provides cloud computing and related services; digital advertising; Prime memberships; and entertainment offerings such as streaming video and music.