LGT Fund Management Co Ltd. Boosts Stock Position in Amazon.com, Inc. $AMZN

LGT Fund Management Co Ltd. increased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 52.1% during the first quarter, Holdings Channel.com reports. The fund owned 410,806 shares of the e-commerce giant’s stock after acquiring an additional 140,740 shares during the quarter. Amazon.com accounts for approximately 3.7% of LGT Fund Management Co Ltd.’s investment portfolio, making the stock its 5th largest position. LGT Fund Management Co Ltd.’s holdings in Amazon.com were worth $85,559,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Global Assets Advisory LLC lifted its holdings in Amazon.com by 2.8% in the 1st quarter. Global Assets Advisory LLC now owns 47,482 shares of the e-commerce giant’s stock valued at $9,889,000 after acquiring an additional 1,298 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Amazon.com by 2.2% in the 1st quarter. International Assets Investment Management LLC now owns 183,683 shares of the e-commerce giant’s stock worth $38,670,000 after purchasing an additional 4,006 shares during the last quarter. Trifecta Capital Advisors LLC raised its holdings in shares of Amazon.com by 1.7% in the 1st quarter. Trifecta Capital Advisors LLC now owns 130,716 shares of the e-commerce giant’s stock worth $27,224,000 after purchasing an additional 2,235 shares in the last quarter. Anchor Investment Management LLC raised its holdings in shares of Amazon.com by 3.0% in the 1st quarter. Anchor Investment Management LLC now owns 73,881 shares of the e-commerce giant’s stock worth $15,387,000 after purchasing an additional 2,160 shares in the last quarter. Finally, Associated Banc Corp lifted its stake in Amazon.com by 0.7% during the first quarter. Associated Banc Corp now owns 585,583 shares of the e-commerce giant’s stock valued at $121,959,000 after purchasing an additional 4,256 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

Amazon.com News Roundup

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

• Positive Sentiment: Options data and several analyst/commentary pieces suggest traders expect a post-earnings move higher, and multiple firms remain bullish on AMZN heading into the July 30 report. Ahead of Amazon Earnings, Here’s What Barchart Data Says Comes Next for AMZN Stock
• Positive Sentiment: India eased e-commerce export rules, which is a win for Amazon’s international marketplace ambitions and could support long-term growth. India relaxes e-commerce investment rules for exports in win for Amazon
• Positive Sentiment: Several bullish research notes continue to frame AWS, custom silicon, and Amazon’s AI buildout as long-term growth drivers, with some investors arguing the capex surge should ultimately strengthen Amazon’s competitive moat. Amazon: Why The CapEx Surge Makes Me More Bullish, Not Less

Amazon.com Stock Down 0.7%

Shares of NASDAQ:AMZN opened at $232.11 on Friday. The firm has a 50 day simple moving average of $248.26 and a 200 day simple moving average of $236.32. Amazon.com, Inc. has a 52 week low of $196.00 and a 52 week high of $278.56. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.18. The company has a market cap of $2.50 trillion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 1.75 and a beta of 1.46.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share for the quarter, topping the consensus estimate of $1.63 by $1.15. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The firm had revenue of $181.52 billion for the quarter, compared to analysts’ expectations of $177.28 billion. During the same period in the previous year, the company posted $1.59 EPS. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. As a group, research analysts expect that Amazon.com, Inc. will post 7.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AMZN shares. Telsey Advisory Group raised their target price on shares of Amazon.com from $300.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Royal Bank Of Canada reiterated a “buy” rating on shares of Amazon.com in a research report on Tuesday, June 16th. Morgan Stanley raised their price objective on Amazon.com from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. TD Cowen restated a “buy” rating and issued a $340.00 target price (down from $350.00) on shares of Amazon.com in a report on Wednesday, July 8th. Finally, China Renaissance boosted their target price on Amazon.com from $300.00 to $326.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Fifty-seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $312.91.

Insiders Place Their Bets

In other news, CEO Andrew R. Jassy sold 20,000 shares of Amazon.com stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $263.42, for a total transaction of $5,268,400.00. Following the transaction, the chief executive officer owned 2,205,766 shares in the company, valued at approximately $581,042,879.72. The trade was a 0.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew S. Garman sold 15,467 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were 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 in the company, valued at $3,729,480.60. The trade was a 52.21% 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. Insiders have sold a total of 140,425 shares of company stock valued at $37,715,464 over the last quarter. 8.90% of the stock is owned by insiders.

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.