Truist Financial Corp Buys 21,407 Shares of Amazon.com, Inc. $AMZN

Truist Financial Corp boosted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.5% during the 4th quarter, HoldingsChannel reports. The fund owned 4,398,002 shares of the e-commerce giant’s stock after purchasing an additional 21,407 shares during the period. Amazon.com accounts for about 1.4% of Truist Financial Corp’s holdings, making the stock its 12th largest position. Truist Financial Corp’s holdings in Amazon.com were worth $1,015,147,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. American Capital Advisory LLC boosted its position in shares of Amazon.com by 63.9% during the third quarter. American Capital Advisory LLC now owns 8,081 shares of the e-commerce giant’s stock valued at $1,774,000 after buying an additional 3,152 shares during the period. Compagnie Lombard Odier SCmA purchased a new position in shares of Amazon.com during the third quarter valued at approximately $451,642,000. Narwhal Capital Management boosted its position in shares of 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 buying an additional 4,854 shares during the period. Weaver Capital Management LLC boosted its position in shares of Amazon.com by 13.6% during the fourth quarter. Weaver Capital Management LLC now owns 39,264 shares of the e-commerce giant’s stock valued at $9,063,000 after buying an additional 4,713 shares during the period. Finally, Ethos Financial Group LLC boosted its position in shares of Amazon.com by 9.6% during the fourth quarter. Ethos Financial Group LLC now owns 36,485 shares of the e-commerce giant’s stock valued at $8,421,000 after buying an additional 3,196 shares during the period. 72.20% of the stock is owned by institutional investors.

Insider Buying and Selling at Amazon.com

In other news, CEO Matthew S. Garman sold 15,467 shares of Amazon.com stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $263.40, for a total value of $4,074,007.80. Following the transaction, the chief executive officer directly owned 14,159 shares in the company, valued at approximately $3,729,480.60. This trade represents a 52.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew R. Jassy sold 20,000 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $263.42, for a total value of $5,268,400.00. Following the sale, the chief executive officer directly owned 2,205,766 shares in the company, valued at approximately $581,042,879.72. The trade was a 0.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 195,774 shares of company stock worth $51,552,494. 8.90% of the stock is currently owned by company 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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AMZN. Jefferies Financial Group restated a “buy” rating on shares of Amazon.com in a research report on Monday, May 4th. Citizens Jmp restated a “market outperform” rating and set a $315.00 target price on shares of Amazon.com in a research report on Friday, April 10th. DA Davidson boosted their target price on Amazon.com from $175.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. TD Securities upgraded Amazon.com to a “buy” rating in a research report on Monday, April 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $330.00 price target (up from $280.00) on shares of Amazon.com in a report on Thursday, April 30th. Fifty-seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $312.66.

Amazon.com Stock Performance

AMZN stock opened at $265.29 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.01. The business has a 50-day moving average price of $241.79 and a 200 day moving average price of $231.93. The company has a market capitalization of $2.85 trillion, a P/E ratio of 31.73, a PEG ratio of 1.99 and a beta of 1.46. Amazon.com, Inc. has a 1-year low of $196.00 and a 1-year high of $278.56.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share for the quarter, beating the consensus estimate of $1.63 by $1.15. The firm had revenue of $181.52 billion during the quarter, compared to the consensus estimate of $177.28 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.59 earnings per share. As a group, equities research analysts forecast that Amazon.com, Inc. will post 7.71 EPS for the current fiscal year.

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.