Amazon.com, Inc. $AMZN Stock Purchased by Gibbs Wealth Management

Gibbs Wealth Management grew its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 43.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,912 shares of the e-commerce giant’s stock after purchasing an additional 18,452 shares during the period. Amazon.com comprises approximately 1.5% of Gibbs Wealth Management’s investment portfolio, making the stock its 15th largest position. Gibbs Wealth Management’s holdings in Amazon.com were worth $15,176,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMZN. Bank of America Corp DE acquired a new position in shares of Amazon.com during the second quarter worth $22,218,775,000. Bank of New York Mellon Corp bought a new position in shares of Amazon.com in the 2nd quarter valued at $16,341,405,000. Legal & General Group Plc acquired a new stake in shares of Amazon.com during the 2nd quarter valued at $12,831,376,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Amazon.com during the 2nd quarter valued at $6,631,466,000. Finally, Jupiter Topco LLC acquired a new stake in shares of Amazon.com during the 2nd quarter valued at $5,910,083,000. 72.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on AMZN. Roth Capital reaffirmed a “buy” rating and issued a $325.00 target price on shares of Amazon.com in a report on Monday, August 3rd. Robert W. Baird set a $310.00 target price on Amazon.com and gave the company an “outperform” rating in a research report on Friday, July 31st. Cantor Fitzgerald cut their price target on Amazon.com from $310.00 to $280.00 and set an “overweight” rating on the stock in a research note on Friday, October 30th. Wells Fargo & Company reduced their price target on Amazon.com from $329.00 to $326.00 and set an “overweight” rating on the stock in a report on Friday, October 30th. Finally, Tigress Financial reaffirmed a “buy” rating and issued a $385.00 price objective (up from $315.00) on shares of Amazon.com in a research note on Tuesday, October 6th. Two investment analysts have rated the stock with a Strong Buy rating, fifty-five have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Amazon.com has an average rating of “Moderate Buy” and a consensus target price of $321.74.

Insider Buying and Selling

In other news, CEO Andrew Jassy sold 20,000 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $259.01, for a total value of $5,180,200.00. Following the completion of the sale, the chief executive officer owned 2,235,766 shares of the company’s stock, valued at approximately $579,085,751.66. This represents a 0.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Shelley Reynolds sold 2,343 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $259.01, for a total value of $606,860.43. Following the transaction, the vice president owned 119,780 shares of the company’s stock, valued at $31,024,217.80. This trade represents a 1.92% 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. In the last quarter, insiders have sold 71,589 shares of company stock valued at $18,545,595. Corporate insiders own 8.90% of the company’s stock.

Amazon.com Stock Performance

NASDAQ AMZN opened at $259.30 on Monday. The company has a market capitalization of $2.80 trillion, a price-to-earnings ratio of 20.96, a PEG ratio of 1.97 and a beta of 1.49. The company has a quick ratio of 0.82, a current ratio of 0.99 and a debt-to-equity ratio of 0.28. Amazon.com, Inc. has a twelve month low of $196.00 and a twelve month high of $287.20. The stock has a fifty day simple moving average of $253.96 and a 200 day simple moving average of $243.57.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, October 29th. The e-commerce giant reported $1.89 EPS for the quarter, missing the consensus estimate of $1.97 by ($0.08). The company had revenue of $201.94 billion for the quarter, compared to analyst estimates of $202.22 billion. Amazon.com had a return on equity of 15.72% and a net margin of 16.90%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.95 earnings per share. Sell-side analysts expect that Amazon.com, Inc. will post 7.80 EPS for the current year.

Key Headlines Impacting Amazon.com

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

• Positive Sentiment: AWS growth could be a major long-term catalyst. CEO Andy Jassy sees AWS potentially becoming a $1 trillion business over the next decade, with strong AI demand supporting rapid growth. That outlook may help reassure investors that Amazon’s large infrastructure investments can generate substantial future revenue. Article: Amazon’s CEO Andy Jassy Just Announced Huge News for Amazon Investors
• Positive Sentiment: Advertising remains another growth engine. Amazon’s ad revenue grew 12% in the latest quarter, and management expects high-teens growth next, offering a potential boost beyond retail and cloud. Article: Not Alphabet. Not Meta. This Is the Digital Advertising Stock I’d Buy Right Now
• Neutral Sentiment: Amazon is testing text-based shopping with Alexa for selected U.S. customers. The AI assistant can help find products, build carts and complete purchases; the feature could improve shopping convenience, though its impact on sales is not yet clear. Article: Amazon rolls out text-based shopping through Alexa
• Negative Sentiment: Spending and cash-flow concerns remain a near-term overhang. Despite record operating margins, investors are scrutinizing the cash required for Amazon’s AI and data-center buildout. Its latest quarterly EPS and revenue also came in slightly below consensus estimates. Article: Amazon Just Delivered a Record-Breaking Quarter. But There’s One Number Investors Shouldn’t Ignore
• Negative Sentiment: Potential data-center rules could raise costs. Midterm election results have increased attention on restrictions that could require Amazon and other tech companies to pay more of the power and grid costs associated with their data centers, potentially complicating expansion plans. Article: Microsoft and Google Face a New Bill as Data Centers Have to Pay Their Own Costs

Amazon.com Company Profile

Amazon.com, Inc is a technology and e-commerce company founded by Jeff Bezos in 1994 as an online bookstore. It has since grown into a global business serving consumers, sellers, developers, enterprises and content creators.

Amazon operates online stores and marketplaces, where it sells products directly and enables third-party sellers to reach customers. Its other businesses include Amazon Web Services, which provides cloud computing and related services; digital advertising; Prime memberships; and entertainment offerings such as streaming video and music.