Shares of Amazon.com, Inc. (NASDAQ:AMZN) acquired by Orrstown Financial Services Inc.

VaselineAugust 25, 2024

0 3 minutes read

Orrstown Financial Services Inc. increased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 1.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,796 shares of the e-commerce giant’s stock after acquiring an additional 85 shares during the period. Amazon.com makes up about 0.8% of Orrstown Financial Services Inc.’s investment portfolio, making the stock its 17th biggest position. Holdings of Orrstown Financial Services Inc. in Amazon.com were worth $1,507,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Cooksen Wealth LLC purchased a new stake in shares of Amazon.com in the fourth quarter valued at $30,000. Strid Group LLC purchased a new position in Amazon.com in the 4th quarter valued at about $43,000. Clarity Asset Management Inc. purchased a new position in Amazon.com in the 4th quarter valued at about $46,000. Steph & Co. purchased a new stake in shares of Amazon.com in the first quarter worth about $65,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in shares of Amazon.com in the first quarter worth about $69,000. 72.20% of the shares are currently held by hedge funds and other institutional investors.

Analysts on Wall Street are forecasting an increase

Several equities analysts recently issued reports on AMZN shares. UBS Group boosted their price objective on shares of Amazon.com from $217.00 to $224.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. TD Securities lifted their price objective on Amazon.com from $225.00 to $245.00 in a research report on Wednesday, July 10th. Truist Financial boosted their target price on Amazon.com from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Barclays raised their target price on Amazon.com from $220.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Argus boosted their price objective on shares of Amazon.com from $185.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the company. Amazon.com has an average rating of “Buy” and an average price target of $221.69, according to MarketBeat .

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Amazon.com Stock Performance

Shares of AMZN opened at $176.13 on Friday. Amazon.com, Inc. has a 1 year low of $118.35 and a 1 year high of $201.20. The stock has a market cap of $1.83 trillion, a price-to-earnings ratio of 49.34, a PEG ratio of 1.32 and a beta of 1.15. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.87, and a current ratio of 1.07. The stock’s fifty day moving average is $183.91, and the two hundred day moving average is $180.85.

Insider buying and selling

In other Amazon.com news, insider Jeffrey P. Bezos sold 3,085,116 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $200.07, for a total transaction of $617,239,158.12. Following the completion of the transaction, the insider now directly owns 931,925,277 shares of the company’s stock, valued at approximately $186,450,290,169.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. In related news, insider Jeffrey P. Bezos sold 3,085,116 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $200.07, for a total value of $617,239,158.12. Following the sale, the insider now directly owns 931,925,277 shares in the company, valued at approximately $186,450,290,169.39. The transaction was disclosed in a legal filing with the SEC, which can be accessed via this hyperlink. Also, insider Jeffrey P. Bezos sold 1,463,437 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $200.08, for a total value of $292,804,474.96. Following the transaction, the insider now owns 935,211,842 shares of the company’s stock, valued at approximately $187,117,185,347.36. The disclosure for this sale can be found here. Insiders sold a total of 6,059,152 shares of company stock worth $1,212,453,840 over the last quarter. Company insiders own 10.80% of the company’s shares.

About Amazon.com

(Free report)

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