Sun Financial Inc Takes Position in Amazon.com, Inc. $AMZN

Sun Financial Inc purchased a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 9,955 shares of the e-commerce giant’s stock, valued at approximately $2,298,000. Amazon.com makes up about 1.3% of Sun Financial Inc’s investment portfolio, making the stock its 20th biggest position.

A number of other hedge funds have also recently made changes to their positions in AMZN. Brighton Jones LLC boosted its stake in shares of Amazon.com by 10.9% during the fourth quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant’s stock valued at $885,478,000 after purchasing an additional 397,007 shares in the last quarter. Revolve Wealth Partners LLC raised its position in shares of Amazon.com by 4.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant’s stock worth $5,495,000 after acquiring an additional 986 shares during the last quarter. Bank Pictet & Cie Europe AG raised its position in shares of Amazon.com by 2.8% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant’s stock worth $442,481,000 after acquiring an additional 54,987 shares during the last quarter. Highview Capital Management LLC DE raised its position in shares of Amazon.com by 5.5% during the fourth quarter. Highview Capital Management LLC DE now owns 28,975 shares of the e-commerce giant’s stock worth $6,357,000 after acquiring an additional 1,518 shares during the last quarter. Finally, Liberty Square Wealth Partners LLC bought a new position in shares of Amazon.com during the fourth quarter worth about $2,153,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Trading Down 0.4%

Shares of AMZN stock opened at $265.29 on Wednesday. The company has a market cap of $2.85 trillion, a P/E ratio of 31.73, a PEG ratio of 1.99 and a beta of 1.46. The stock has a 50 day simple moving average of $241.79 and a two-hundred day simple moving average of $231.93. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.18. Amazon.com, Inc. has a fifty-two week low of $196.00 and a fifty-two week high of $278.56.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $1.15. The business had revenue of $181.52 billion during the quarter, compared to the consensus estimate of $177.28 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.59 earnings per share. Research analysts forecast that Amazon.com, Inc. will post 7.71 earnings per share for the current year.

Insiders Place Their Bets

In other Amazon.com news, CEO Matthew S. Garman sold 15,467 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 14,159 shares of the company’s stock, valued at approximately $3,729,480.60. This trade represents a 52.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 6,370 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $262.39, for a total value of $1,671,424.30. Following the completion of the sale, the chief executive officer directly owned 486,527 shares of the company’s stock, valued at $127,659,819.53. This trade represents a 1.29% 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. Insiders sold a total of 195,774 shares of company stock valued at $51,552,494 in the last 90 days. Company insiders own 8.90% of the company’s stock.

Amazon.com News Summary

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AMZN. Royal Bank Of Canada set a $320.00 price objective on Amazon.com and gave the stock an “outperform” rating in a research report on Thursday, April 30th. BMO Capital Markets raised their price objective on Amazon.com from $310.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Citizens Jmp restated a “market outperform” rating and set a $315.00 price objective on shares of Amazon.com in a research report on Friday, April 10th. Weiss Ratings upgraded Amazon.com from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. Finally, Oppenheimer raised their price objective on Amazon.com from $275.00 to $320.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Fifty-seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Amazon.com presently has an average rating of “Moderate Buy” and an average price target of $312.66.

Amazon.com 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.