On May 16, 2023, financial news erupted with the announcement that B.O.S.S. Retirement Advisors LLC had bought a staggering amount of Amazon.com Inc (NASDAQ:AMZN) shares, valued at around $5.67 million. This strategic acquisition marks the firm’s sixth biggest position and secures its foothold in the e-commerce giant’s stock as it makes up about 1.5% of their portfolio.
Amazon.com Inc is an American multinational technology company that offers a wide range of products and services to customers worldwide through online retail shopping services. The North America segment engages in consumer product retail sales from sellers and subscriptions, whereas the International segment handles global expansion sales outside of North America. Additionally, Amazon Web Services provides cloud computing services to different entities globally.
Taking into account several equities research analysts’ opinions on Amazon.com, Deutsche Bank Aktiengesellschaft lowered its target price on Amazon.com from $130.00 to $125.00 considering company’s current market situation while other heavyweight players such as Morgan Stanley increased its target price on Amazon.com from $140.00 to $150.00 upliftingly gave the stock an “overweight” rating in their report.
Truist Financial also upped Amazon.com’s target price from $142.00 to $144.00, while DA Davidson increased its price target from $114.00 to $134.00 giving this stock a “buy” rating in their research note issued on February 3rd earlier this year.
Finally, in April 2023 Piper Sandler- another leading investment bank- has significantly increased its projected target price on a single share of Amazon’s common stock from what was originally set ($123) all the way up to new heights at roughly around $130 per share.
In conclusion, Financial analysis companies depend on long-foreseen investor predictions for what will happen next with companies like Amazon that can make or break the firms they work for. These analyses drive companies’ purchasing decisions for large-scale projects like B.O.S.S. Retirement Advisors LLC’s current involvement with Amazon.com, Inc.
Investors and CEOs Make Moves as Amazon Remains Stable with Strong Earnings
Multinational technology company, Amazon.com, Inc., has witnessed some notable recent changes to the positions of several large investors. Bridgefront Capital LLC made a new purchase valued at around $228,000 in Amazon.com in the first quarter of this year. Krane Funds Advisors LLC increased its position in shares of Amazon.com by 239.1% in Q1 and now holds 78 shares of the e-commerce giant’s stock valued at $254,000 after purchasing an additional 55 shares in the last quarter. Range Financial Group LLC also purchased a new position in Amazon.com worth $258,000 during Q1 while My Personal CFO LLC and Worth Asset Management LLC both bought new positions worth $261,000 and $191,000 respectively. Currently, 57.64% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Adam Selipsky recently sold 2,299 shares of Amazon’s stock for a total value of $230,681.66 while CEO Andrew R. Jassy sold 23,874 shares worth $2,367,107.10 on February 15th. The completion of these sales means that Selipsky now directly owns 138,320 shares in the company with a current value of approximately $13,879,028.80 while Jassy holds onto 1,964,506 shares worth approximately $194,780,769.90.
Amazon’s operations are split into three segments – North America; International and Amazon Web Services (AWS) – with retail sales being one of its primary focuses across all three areas.
The company’s impressive market cap currently stands at $1.14 trillion although there have been fluctuations throughout the last twelve months; AMZN opened at just $81.43 but has reached highs up to $146.57 over this period.
Overall however things seem to stay consistent with concerns like debt- equity ratio at 0.43, a current ratio of 0.92 and a quick ratio of 0.69 being relatively stable.
Regarding earnings per share, last year Amazon.com posted $0.21 while the most recent quarter has seen this figure rise to $0.31 – beating analysts’ consensus estimates by $0.09.
Looking forward to the end of the fiscal year, analysts predict that Amazon will post earnings per share around 1.54 for 2023 based on comparative figures from previous eras; a figure which can impact investor behaviour in future quarters.