Cromwell Holdings Boosts Amazon Stake as Analysts Raise Price Targets

Cromwell Holdings LLC has increased its stake in Amazon.com, Inc. by 2.4%, according to a recent filing with the Securities and Exchange Commission. The investment firm acquired an additional 601 shares during the second quarter, bringing its total to 26,113 shares. Amazon.com now represents approximately 3.5% of Cromwell Holdings’ portfolio, making it the firm’s fourth-largest holding, valued at about $5.73 million.

Several other institutional investors have also adjusted their positions in Amazon.com recently. Western Wealth Management LLC raised its stake by 0.9% in the first quarter, acquiring an additional 1,297 shares to reach a total of 140,122 shares, valued at $26.66 million. Flaharty Asset Management LLC significantly increased its investment, growing its holdings by 87.7% to 5,088 shares, now valued at $968,000. Additionally, Border to Coast Pensions Partnership Ltd expanded its stake by 6.0%, owning 1,136,311 shares valued at $249.30 million after purchasing 63,924 shares in the last quarter.

Another notable change came from Generali Investments CEE investicni spolecnost a.s., which increased its position by 5.3%, securing 84,116 shares valued at $18.45 million after buying an additional 4,265 shares.

Hedge funds and institutional investors now control approximately 72.20% of Amazon’s stock.

Amazon’s Stock Performance and Earnings Report

Shares of Amazon.com opened at $213.04 on Friday, reflecting a 0.7% decline. The company boasts a market capitalization of $2.27 trillion and a price-to-earnings ratio of 32.48. The stock has fluctuated between a twelve-month low of $161.38 and a high of $242.52. Its 50-day moving average stands at $225.66, while the 200-day moving average is $212.64.

In its latest earnings report announced on July 31, Amazon reported earnings of $1.68 per share, exceeding analysts’ expectations of $1.31 by $0.37. The company achieved revenue of $167.70 billion for the quarter, surpassing the consensus estimate of $161.80 billion. This reflects a year-over-year revenue increase of 13.3%, compared to $1.26 earnings per share reported in the same quarter last year. Analysts project that Amazon.com will post earnings of $6.31 per share for the current year.

Insider Transactions and Analyst Ratings

In related news, Chief Financial Officer Brian T. Olsavsky sold 17,750 shares on August 21 at an average price of $222.74, totaling approximately $3.95 million. Following this transaction, Olsavsky retains 49,000 shares valued at around $10.91 million. Similarly, Senior Vice President David Zapolsky sold 13,570 shares on August 22 for roughly $3.02 million, decreasing his ownership by 23.53%.

Over the past quarter, insiders have sold a total of 10,864,716 shares, amounting to approximately $2.49 billion. Currently, corporate insiders own about 9.70% of the company’s stock.

Wall Street analysts have favorable views on Amazon, with Piper Sandler recently adjusting its price target from $250.00 to $255.00 and maintaining an “overweight” rating. Evercore ISI reiterated an “outperform” rating, setting a price target of $280.00. A consensus analysis from MarketBeat.com reveals a “Buy” rating for the stock, with an average price target of $266.26. Currently, three analysts rate the stock as a Strong Buy, 47 as Buy, and one as Hold.

As Amazon continues to expand its market presence and enhance shareholder value, these developments reflect growing confidence from institutional investors and analysts alike.