OLD National Bancorp IN grew its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 388,455 shares of the e-commerce giant’s stock after buying an additional 9,520 shares during the period. Amazon.com accounts for 1.4% of OLD National Bancorp IN’s investment portfolio, making the stock its 12th biggest position. OLD National Bancorp IN’s holdings in Amazon.com were worth $80,904,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in the stock. MilWealth Group LLC raised its stake in Amazon.com by 79.0% in the 4th quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant’s stock valued at $41,000 after purchasing an additional 79 shares during the last quarter. Lifetime Wealth Management P.C. purchased a new position in Amazon.com in the 4th quarter valued at about $45,000. Elkhorn Partners Limited Partnership boosted its stake in shares of Amazon.com by 900.0% during the 4th quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant’s stock worth $46,000 after purchasing an additional 180 shares during the last quarter. Fairway Wealth LLC boosted its stake in shares of Amazon.com by 95.6% during the 4th quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant’s stock worth $51,000 after purchasing an additional 108 shares during the last quarter. Finally, Prudent Man Investment Management Inc. grew its holdings in shares of Amazon.com by 87.7% during the fourth quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant’s stock worth $53,000 after buying an additional 107 shares in the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.
Amazon.com Price Performance
Amazon.com stock opened at $242.67 on Friday. Amazon.com, Inc. has a 1 year low of $196.00 and a 1 year high of $278.56. The firm has a 50 day moving average price of $254.82 and a 200 day moving average price of $234.51. The company has a market cap of $2.61 trillion, a price-to-earnings ratio of 29.03, a PEG ratio of 1.80 and a beta of 1.46. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.18.
Insider Activity at Amazon.com
In other news, VP Shelley Reynolds sold 2,363 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $262.38, for a total transaction of $620,003.94. Following the completion of the sale, the vice president directly owned 119,780 shares in the company, valued at $31,427,876.40. This represents a 1.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 1,000 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $239.77, for a total value of $239,770.00. Following the completion of the transaction, the chief executive officer directly owned 484,527 shares in the company, valued at $116,175,038.79. This trade represents a 0.21% decrease in their ownership of the stock. 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 three months, insiders sold 195,774 shares of company stock worth $51,643,704. 8.90% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on AMZN. Citizens Jmp reissued a “market outperform” rating and issued a $315.00 price objective on shares of Amazon.com in a research report on Friday, April 10th. Canaccord Genuity Group raised their target price on shares of Amazon.com from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Rosenblatt Securities lifted their target price on shares of Amazon.com from $296.00 to $332.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Jefferies Financial Group reiterated a “buy” rating on shares of Amazon.com in a report on Thursday, June 18th. Finally, Tigress Financial increased their price target on Amazon.com from $305.00 to $315.00 and gave the stock a “buy” rating in a research note on Wednesday, March 25th. Fifty-seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Amazon.com presently has a consensus rating of “Moderate Buy” and a consensus price target of $312.79.
View Our Latest Stock Report on Amazon.com
Trending Headlines about Amazon.com
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, creating a new growth avenue in space-based internet. Reuters: Amazon to start initial Leo internet service this year as network nears 400 satellites
- Positive Sentiment: Amazon is deepening its AI strategy by developing custom chips for consumer devices and expanding AWS AI engineering support, which could strengthen margins and enterprise adoption. CNBC: Amazon is designing its own AI chips for Echo, Fire TV and future devices
- Positive Sentiment: Prime Day sales reportedly rose to a record $26.4 billion, signaling strong e-commerce demand and improving sentiment ahead of quarterly results. Yahoo Finance/Reuters: Online Spending Rises 5.3% on First Day of Amazon’s Prime Day
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.
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