Kanen Wealth Management LLC Takes Position in Amazon.com, Inc. $AMZN

Kanen Wealth Management LLC acquired a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the first quarter, Holdings Channel.com reports. The fund acquired 2,131 shares of the e-commerce giant’s stock, valued at approximately $444,000.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Amazon.com by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 832,274,556 shares of the e-commerce giant’s stock worth $158,348,557,000 after purchasing an additional 8,913,959 shares during the last quarter. State Street Corp raised its position in shares of Amazon.com by 1.8% in the 4th quarter. State Street Corp now owns 388,653,121 shares of the e-commerce giant’s stock valued at $89,708,913,000 after purchasing an additional 6,971,680 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Amazon.com by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 225,120,994 shares of the e-commerce giant’s stock valued at $51,753,622,000 after buying an additional 2,479,324 shares during the last quarter. Norges Bank purchased a new position in shares of Amazon.com during the 4th quarter valued at approximately $32,868,735,000. Finally, Auto Owners Insurance Co grew its position in shares of Amazon.com by 27,376.7% during the fourth quarter. Auto Owners Insurance Co now owns 98,448,885 shares of the e-commerce giant’s stock worth $2,272,397,000 after buying an additional 98,090,585 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Stock Performance

Shares of AMZN stock opened at $278.09 on Tuesday. 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 business has a 50 day moving average of $246.69 and a two-hundred day moving average of $237.78. Amazon.com, Inc. has a 52 week low of $196.00 and a 52 week high of $287.20. The company has a market cap of $3.00 trillion, a P/E ratio of 22.37, a PEG ratio of 1.83 and a beta of 1.45.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, July 30th. The e-commerce giant reported $5.75 EPS for the quarter, beating the consensus estimate of $1.82 by $3.93. The company had revenue of $200.61 billion during the quarter, compared to analyst estimates 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 was up 19.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.68 earnings per share. As a group, analysts anticipate that Amazon.com, Inc. will post 8.05 EPS for the current year.

Key Stories Impacting 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

Wall Street Analyst Weigh In

AMZN has been the subject of a number of research analyst reports. Raymond James Financial restated an “outperform” rating and issued a $390.00 price target (up from $280.00) on shares of Amazon.com in a research note on Friday, July 31st. Zacks Research raised shares of Amazon.com from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. DZ Bank boosted their target price on shares of Amazon.com from $295.00 to $320.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Evercore restated an “outperform” rating on shares of Amazon.com in a research note on Tuesday, July 28th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $315.00 price target on shares of Amazon.com in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, fifty-six have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $322.56.

Insider Activity

In other Amazon.com news, VP Shelley Reynolds sold 2,363 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $262.38, for a total value of $620,003.94. Following the sale, the vice president directly owned 119,780 shares in the company, valued at approximately $31,427,876.40. This trade represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP David Zapolsky sold 9,270 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $268.53, for a total transaction of $2,489,273.10. Following the transaction, the senior vice president directly owned 41,190 shares of the company’s stock, valued at approximately $11,060,750.70. This trade represents a 18.37% decrease in their position. 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 77,867 shares of company stock worth $20,532,092 over the last 90 days. Insiders own 8.90% of the company’s stock.

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.