Intact Investment Management Inc. Purchases 6,990 Shares of Amazon.com, Inc. $AMZN

Intact Investment Management Inc. increased its position in Amazon.com, Inc. (NASDAQ:AMZN) by 19.2% during the fourth quarter, Holdings Channel reports. The firm owned 43,330 shares of the e-commerce giant’s stock after buying an additional 6,990 shares during the quarter. Intact Investment Management Inc.’s holdings in Amazon.com were worth $10,001,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Lifelong Wealth Advisors Inc. increased its holdings in shares of Amazon.com by 2.4% during the fourth quarter. Lifelong Wealth Advisors Inc. now owns 1,740 shares of the e-commerce giant’s stock valued at $402,000 after acquiring an additional 41 shares in the last quarter. Financial Connections Group Inc. increased its holdings in shares of Amazon.com by 2.6% during the fourth quarter. Financial Connections Group Inc. now owns 1,633 shares of the e-commerce giant’s stock valued at $376,000 after acquiring an additional 42 shares in the last quarter. Marquette Asset Management LLC increased its holdings in shares of Amazon.com by 5.1% during the fourth quarter. Marquette Asset Management LLC now owns 886 shares of the e-commerce giant’s stock valued at $205,000 after acquiring an additional 43 shares in the last quarter. Western Financial Corp CA increased its holdings in shares of Amazon.com by 1.5% during the fourth quarter. Western Financial Corp CA now owns 3,076 shares of the e-commerce giant’s stock valued at $710,000 after acquiring an additional 44 shares in the last quarter. Finally, Union Savings Bank increased its holdings in shares of Amazon.com by 0.4% during the second quarter. Union Savings Bank now owns 10,723 shares of the e-commerce giant’s stock valued at $2,510,000 after acquiring an additional 45 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AMZN shares. Phillip Securities upgraded shares of Amazon.com from a “moderate buy” rating to a “buy” rating and set a $280.00 price objective on the stock in a report on Wednesday, May 13th. Wells Fargo & Company set a $312.00 price objective on shares of Amazon.com and gave the company an “overweight” rating in a report on Wednesday, May 20th. BMO Capital Markets upped their price objective on shares of Amazon.com from $310.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. President Capital cut their price objective on shares of Amazon.com from $320.00 to $296.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Finally, Scotiabank restated an “outperform” rating and set a $325.00 price objective (up from $275.00) on shares of Amazon.com in a report on Thursday, April 30th. Fifty-seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $312.66.

Insider Buying and Selling at Amazon.com

In other news, SVP David Zapolsky sold 9,270 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president owned 41,190 shares of the company’s stock, valued at $11,060,750.70. This trade represents a 18.37% decrease in their position. The sale 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, CEO Douglas J. Herrington sold 6,370 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $262.39, for a total transaction of $1,671,424.30. Following the sale, the chief executive officer directly owned 486,527 shares in the company, valued at $127,659,819.53. The trade was a 1.29% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 195,774 shares of company stock worth $51,552,494. 8.90% of the stock is currently owned by insiders.

Key Headlines Impacting Amazon.com

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

Amazon.com Stock Performance

AMZN opened at $265.29 on Wednesday. Amazon.com, Inc. has a 12-month low of $196.00 and a 12-month high of $278.56. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $2.85 trillion, a PE ratio of 31.73, a P/E/G ratio of 1.99 and a beta of 1.46. The firm has a 50 day moving average of $241.79 and a two-hundred day moving average of $231.93.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $1.15. The business had revenue of $181.52 billion for the quarter, compared to analysts’ expectations of $177.28 billion. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The business’s revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the company earned $1.59 EPS. On average, analysts anticipate that Amazon.com, Inc. will post 7.71 EPS for the current year.

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.