Procyon Advisors LLC Boosts Stock Holdings in Amazon.com, Inc. $AMZN

Procyon Advisors LLC raised its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 2.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 141,408 shares of the e-commerce giant’s stock after acquiring an additional 3,095 shares during the period. Amazon.com makes up 0.4% of Procyon Advisors LLC’s portfolio, making the stock its 12th largest holding. Procyon Advisors LLC’s holdings in Amazon.com were worth $29,451,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Narwhal Capital Management lifted its position in Amazon.com by 2.3% during the fourth quarter. Narwhal Capital Management now owns 216,606 shares of the e-commerce giant’s stock valued at $49,997,000 after purchasing an additional 4,854 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Amazon.com by 21.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 24,653,228 shares of the e-commerce giant’s stock valued at $5,690,463,000 after purchasing an additional 4,275,942 shares during the last quarter. Weaver Capital Management LLC grew its position in Amazon.com by 13.6% during the 4th quarter. Weaver Capital Management LLC now owns 39,264 shares of the e-commerce giant’s stock worth $9,063,000 after purchasing an additional 4,713 shares during the period. Ethos Financial Group LLC grew its position in Amazon.com by 9.6% during the 4th quarter. Ethos Financial Group LLC now owns 36,485 shares of the e-commerce giant’s stock worth $8,421,000 after purchasing an additional 3,196 shares during the period. Finally, Culbertson A N & Co. Inc. raised its stake in shares of Amazon.com by 8.6% during the 4th quarter. Culbertson A N & Co. Inc. now owns 30,444 shares of the e-commerce giant’s stock valued at $7,027,000 after buying an additional 2,412 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, 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 completion of the sale, the chief executive officer owned 471,361 shares of the company’s stock, valued at $129,624,275. The trade was a 5.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $268.53, for a total transaction of $2,489,273.10. Following the transaction, the senior vice president 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. 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 140,425 shares of company stock valued at $37,715,464 in the last three months. Company insiders own 8.90% of the company’s stock.

Key Amazon.com News

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 Performance

NASDAQ AMZN opened at $232.11 on Friday. The stock has a market capitalization of $2.50 trillion, a price-to-earnings ratio of 27.76, a PEG ratio of 1.74 and a beta of 1.46. The stock has a 50-day moving average of $248.26 and a 200 day moving average of $236.32. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. Amazon.com, Inc. has a twelve month low of $196.00 and a twelve month high of $278.56.

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, beating the consensus estimate of $1.63 by $1.15. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The company had revenue of $181.52 billion for the quarter, compared to analyst estimates of $177.28 billion. During the same period last year, the company earned $1.59 earnings per share. Amazon.com’s quarterly revenue was up 16.6% compared to the same quarter last year. Sell-side analysts anticipate that Amazon.com, Inc. will post 7.75 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Rosenblatt Securities boosted their price objective on Amazon.com from $296.00 to $332.00 and gave the company a “buy” rating in a report on Thursday, April 30th. William Blair reiterated an “outperform” rating on shares of Amazon.com in a research report on Thursday, April 9th. Morgan Stanley boosted their price target on Amazon.com from $300.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Telsey Advisory Group upped their price objective on Amazon.com from $300.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Finally, Arete Research raised their price objective on shares of Amazon.com from $301.00 to $310.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Fifty-seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $312.91.

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.