Amazon Stock Sees New Institutional Investment from Orca Management
Orca Investment Management LLC recently purchased 14,298 shares of Amazon.com stock in its second-quarter portfolio disclosure to the SEC. This new position is valued at approximately $3.4 million and accounts for about 2.5% of Orca's investment portfolio.
The e-commerce giant reported a $5.75 earnings per share (EPS) for the quarter, beating the consensus estimate by $3.93. Revenue reached $200.61 billion during the same period, representing an increase of 19.6% compared to last year.
Amazon's stock opened at $256.97 on Wednesday, with a current market cap of over $2.77 trillion and a price-to-earnings (P/E) ratio of 20.67. The company's debt-to-equity ratio stands at 0.23, while its quick ratio is 0.87.
The acquisition by Orca Investment Management LLC adds to the growing institutional ownership in Amazon.com, with over 72% of shares currently held by hedge funds and other investors. Several analysts have reaffirmed their 'outperform' ratings on Amazon stock, with price targets ranging from $320 to $360 per share.