Fri Sep 20 09:12:50 UTC 2024: ## Breakwater Capital Group Increases Stake in Amazon, Boosting Portfolio Holding

**New York, NY – September 20, 2024** – Breakwater Capital Group has revealed an increased position in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the second quarter, as disclosed in their latest filing with the Securities & Exchange Commission.

The institutional investor now holds 22,683 shares of the e-commerce giant’s stock, representing a 1.9% increase after acquiring an additional 426 shares during the quarter. Amazon.com currently accounts for 1.0% of Breakwater Capital Group’s portfolio, making it their 22nd largest holding, valued at $4,383,000 as of the latest filing.

Breakwater Capital Group’s move follows a trend of increased interest in AMZN shares among other institutional investors and hedge funds. Several, including Cooksen Wealth LLC, Clarity Asset Management Inc., Christopher J. Hasenberg Inc, Steph & Co., and Advantage Trust Co, have acquired new positions or increased their existing stakes in the company. Notably, Christopher J. Hasenberg Inc saw a significant 650.0% increase in their AMZN holdings. Overall, institutional investors own 72.20% of Amazon.com’s stock.

Analysts are also bullish on AMZN. BMO Capital Markets, JMP Securities, Barclays, and TD Securities have all raised their price targets, while Goldman Sachs Group maintained a “buy” rating. One analyst has assigned a “hold” rating, while forty have assigned a “buy” rating, and two have issued a “strong buy” rating, resulting in an average “Buy” rating and a $222.49 price target.

However, recent insider transactions have shown a mixed bag. While CEO Douglas J. Herrington and CEO Andrew R. Jassy sold shares, insiders have sold a total of 6,104,317 shares worth $1,220,621,322 in the last 90 days, representing 10.80% of the company’s stock.

Despite insider selling, Amazon.com continues to post strong financial performance. The company exceeded analysts’ expectations in the second quarter, reporting $1.23 earnings per share (EPS) on revenue of $147.98 billion. Analysts predict that Amazon.com, Inc. will post 4.86 EPS for the current year.

The company’s focus on e-commerce, cloud computing, and media content continues to drive growth and attract investors. While some may be hesitant due to recent insider sales, overall, AMZN remains a popular choice for institutional investors and analysts alike.

Read More