Kanen Wealth Management LLC Buys Shares of 2,131 Amazon.com, Inc. $AMZN

Kanen Wealth Management LLC purchased a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,131 shares of the e-commerce giant’s stock, valued at approximately $444,000.

Other institutional investors also recently made changes to their positions in the company. Sunbelt Securities Inc. raised its holdings in shares of Amazon.com by 1.9% in the first quarter. Sunbelt Securities Inc. now owns 88,838 shares of the e-commerce giant’s stock worth $18,502,000 after acquiring an additional 1,658 shares during the last quarter. Guardian Partners Inc. boosted its stake in shares of Amazon.com by 10.4% during the first quarter. Guardian Partners Inc. now owns 23,088 shares of the e-commerce giant’s stock valued at $4,820,000 after acquiring an additional 2,182 shares during the last quarter. MSA Advisors LLC increased its position in Amazon.com by 26.3% during the 1st quarter. MSA Advisors LLC now owns 2,350 shares of the e-commerce giant’s stock worth $489,000 after purchasing an additional 490 shares in the last quarter. Amundi increased its position in Amazon.com by 14.1% during the 1st quarter. Amundi now owns 61,400,503 shares of the e-commerce giant’s stock worth $12,787,883,000 after purchasing an additional 7,590,952 shares in the last quarter. Finally, Gould Capital LLC raised its stake in Amazon.com by 6.2% in the 1st quarter. Gould Capital LLC now owns 9,079 shares of the e-commerce giant’s stock valued at $1,891,000 after purchasing an additional 533 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. DZ Bank raised their price target on shares of Amazon.com from $295.00 to $320.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. BMO Capital Markets reissued an “outperform” rating and set a $360.00 price objective (up from $355.00) on shares of Amazon.com in a research note on Tuesday, July 28th. UBS Group set a $318.00 target price on shares of Amazon.com and gave the stock a “buy” rating in a research report on Friday, July 31st. Arete Research lifted their target price on shares of Amazon.com from $301.00 to $310.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Amazon.com in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, fifty-six have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $322.56.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $278.09 on Tuesday. The company has a market cap of $3.00 trillion, a P/E ratio of 22.37, a P/E/G ratio of 1.83 and a beta of 1.45. The firm’s 50 day moving average is $246.69 and its two-hundred day moving average is $237.78. Amazon.com, Inc. has a fifty-two week low of $196.00 and a fifty-two week 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.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, July 30th. The e-commerce giant reported $5.75 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $3.93. The business had revenue of $200.61 billion during the quarter, compared to the consensus estimate of $197.03 billion. Amazon.com had a return on equity of 18.00% and a net margin of 17.44%.The business’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.68 EPS. Analysts expect that Amazon.com, Inc. will post 8.05 EPS for the current year.

Insider Activity

In other news, CEO Matthew S. Garman sold 15,467 shares of Amazon.com 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 transaction, the chief executive officer directly 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 transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Shelley Reynolds sold 2,363 shares of Amazon.com 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 transaction, the vice president directly owned 119,780 shares in the company, valued at $31,427,876.40. This represents a 1.93% 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 have sold 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.

Trending Headlines about 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 Company 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.