Rep. Morgan McGarvey Sells Off Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Representative Morgan McGarvey (D-Kentucky) recently sold shares of Amazon.com, Inc. (NASDAQ:AMZN). In a filing disclosed on December 10th, the Representative disclosed that they had sold between $1,001 and $15,000 in Amazon.com stock on November 13th. The trade occurred in the Representative’s “CHRIS IRA” account.

Representative Morgan McGarvey also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 11/13/2024.
• Sold $1,001 – $15,000 in shares of Shell (NYSE:SHEL) on 11/13/2024.
• Sold $1,001 – $15,000 in shares of Interactive Brokers Group (NASDAQ:IBKR) on 11/13/2024.
• Sold $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 11/13/2024.
• Sold $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 11/13/2024.
• Sold $1,001 – $15,000 in shares of Charles Schwab (NYSE:SCHW) on 11/13/2024.
• Sold $15,001 – $50,000 in shares of NVIDIA (NASDAQ:NVDA) on 11/13/2024.
• Sold $1,001 – $15,000 in shares of Trump Media & Technology Group (NASDAQ:DJT) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Trump Media & Technology Group (NASDAQ:DJT) on 11/6/2024.
• Purchased $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 10/25/2024.

Amazon.com Stock Performance

AMZN opened at $228.97 on Friday. The firm’s fifty day simple moving average is $199.89 and its two-hundred day simple moving average is $189.07. Amazon.com, Inc. has a 52-week low of $144.05 and a 52-week high of $231.20. The company has a market cap of $2.41 trillion, a price-to-earnings ratio of 49.03, a PEG ratio of 1.52 and a beta of 1.16. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. During the same period last year, the company posted $0.85 EPS. Amazon.com’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities analysts anticipate that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amazon.com

A number of hedge funds and other institutional investors have recently modified their holdings of AMZN. Legacy Wealth Management LLC MS raised its stake in Amazon.com by 75.7% in the third quarter. Legacy Wealth Management LLC MS now owns 12,922 shares of the e-commerce giant’s stock valued at $2,408,000 after buying an additional 5,567 shares in the last quarter. Alternative Investment Advisors LLC. raised its position in shares of Amazon.com by 2.2% during the 3rd quarter. Alternative Investment Advisors LLC. now owns 10,164 shares of the e-commerce giant’s stock worth $1,894,000 after acquiring an additional 215 shares in the last quarter. DGS Capital Management LLC lifted its stake in Amazon.com by 4.3% during the third quarter. DGS Capital Management LLC now owns 25,410 shares of the e-commerce giant’s stock worth $4,735,000 after purchasing an additional 1,039 shares during the last quarter. Copley Financial Group Inc. acquired a new position in Amazon.com in the third quarter valued at approximately $705,000. Finally, Milestone Resources Group Ltd raised its holdings in Amazon.com by 31.9% during the third quarter. Milestone Resources Group Ltd now owns 1,183,916 shares of the e-commerce giant’s stock worth $220,599,000 after purchasing an additional 286,141 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Amazon.com

In other news, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the sale, the director now directly owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. The trade was a 4.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP David Zapolsky sold 2,190 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the transaction, the senior vice president now owns 62,420 shares in the company, valued at $12,171,900. This represents a 3.39 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,034,534 shares of company stock worth $1,253,883,872. 10.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Oppenheimer lifted their target price on shares of Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Robert W. Baird raised their target price on shares of Amazon.com from $213.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Bank of America upped their price target on Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Telsey Advisory Group lifted their price objective on Amazon.com from $215.00 to $235.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $197.00 target price on shares of Amazon.com in a report on Wednesday, November 20th. Two research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $237.98.

About Representative McGarvey

Morgan McGarvey (Democratic Party) is a member of the U.S. House, representing Kentucky’s 3rd Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. McGarvey (Democratic Party) is running for re-election to the U.S. House to represent Kentucky’s 3rd Congressional District. He declared candidacy for the Democratic primary scheduled on May 21, 2024. McGarvey served as state Senate minority leader from 2019 to 2023. Morgan McGarvey was born in Louisville, Kentucky. McGarvey earned a bachelor’s degree in journalism from the University of Missouri and a law degree from the University of Kentucky. His career experience includes working as an attorney with Morgan & Pottinger PSC. McGarvey has been affiliated with the Young Professionals Association of Louisville and the New Leaders Council.

About Amazon.com

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.