Maridea Wealth Management LLC Boosts Holdings in Amazon.com, Inc. $AMZN

Maridea Wealth Management LLC lifted its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 5.7% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 48,032 shares of the e-commerce giant’s stock after acquiring an additional 2,606 shares during the quarter. Amazon.com accounts for about 1.5% of Maridea Wealth Management LLC’s holdings, making the stock its 14th biggest holding. Maridea Wealth Management LLC’s holdings in Amazon.com were worth $10,004,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Lifelong Wealth Advisors Inc. boosted its position in 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 buying an additional 41 shares during the period. Financial Connections Group Inc. increased its holdings in shares of Amazon.com by 2.6% in the fourth quarter. Financial Connections Group Inc. now owns 1,633 shares of the e-commerce giant’s stock worth $376,000 after buying an additional 42 shares during the period. Marquette Asset Management LLC increased its holdings in shares of Amazon.com by 5.1% in the fourth quarter. Marquette Asset Management LLC now owns 886 shares of the e-commerce giant’s stock worth $205,000 after buying an additional 43 shares during the period. Western Financial Corp CA lifted its stake in shares of Amazon.com by 1.5% in the 4th 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 during the last quarter. Finally, Navalign LLC lifted its stake in shares of Amazon.com by 0.3% in the 4th quarter. Navalign LLC now owns 13,349 shares of the e-commerce giant’s stock valued at $3,081,000 after acquiring an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Activity at Amazon.com

In other news, SVP David Zapolsky sold 9,270 shares of Amazon.com stock in a transaction dated 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 approximately $11,060,750.70. The trade was a 18.37% decrease in their position. The sale was disclosed in a document filed 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 27,500 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $275.00, for a total transaction of $7,562,500.00. Following the transaction, the chief executive officer owned 471,361 shares in the company, valued at $129,624,275. This represents a 5.51% 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. Insiders sold a total of 195,774 shares of company stock valued at $51,643,704 in the last 90 days. 8.90% of the stock is owned by company insiders.

More Amazon.com News

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

• Positive Sentiment: Amazon said its Leo satellite network has enough satellites to begin initial broadband service this year, opening a new growth opportunity in satellite internet. Reuters: Amazon to start initial Leo internet service this year as network nears 400 satellites
• Positive Sentiment: Amazon is expanding its AI strategy with custom device chips and broader AWS AI capabilities, which could support future margins and growth. CNBC: Amazon is designing its own AI chips for Echo, Fire TV and future devices
• Positive Sentiment: Prime Day-related reports pointed to strong online shopping demand, reinforcing confidence in Amazon’s retail momentum heading into earnings. Yahoo Finance/Reuters: Online Spending Rises 5.3% on First Day of Amazon’s Prime Day

Amazon.com Price Performance

AMZN opened at $242.67 on Friday. 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 52-week low of $196.00 and a 52-week high of $278.56. The stock has a market capitalization of $2.61 trillion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 1.81 and a beta of 1.46. The stock’s 50 day moving average price is $254.57 and its 200-day moving average price is $234.57.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results 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 company had revenue of $181.52 billion during the quarter, compared to analyst estimates 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 was up 16.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.59 earnings per share. On average, equities research analysts predict that Amazon.com, Inc. will post 7.75 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AMZN. Pivotal Research restated a “buy” rating and set a $320.00 price target (up from $300.00) on shares of Amazon.com in a research report on Thursday, April 30th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $315.00 price objective (up from $300.00) on shares of Amazon.com in a research report on Thursday, April 30th. Jefferies Financial Group reissued a “buy” rating on shares of Amazon.com in a research note on Thursday, June 18th. Arete Research raised their target price on shares of Amazon.com from $301.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Finally, Canaccord Genuity Group lifted their target price on shares of Amazon.com from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Fifty-seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus price target of $312.79.

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.