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Progressive Investment Management Corp, managed by Carsten Henningsen, recently executed a significant transaction involving Amazon.Com, Inc. ((AMZN)). The hedge fund increased its position by 2,848 shares.
Recent Updates on Amazon.Com, Inc. stock
Amazon.Com, Inc. (AMZN) recently reported strong Q4 2024 financial results, with a revenue of $187.8 billion, reflecting a 10% year-over-year increase, and a 61% rise in operating income to $21.2 billion. Significant growth was seen in its AWS segment, with a 19% increase reaching a $115 billion revenue run rate, and an 18% rise in advertising revenue. Despite facing challenges like foreign exchange headwinds and AWS capacity constraints, analysts have adjusted their price targets for Amazon. Deutsche Bank and DA Davidson raised their targets to $287 and $280, respectively, citing Amazon’s strong fundamentals, while Truist and Phillip Securities adjusted their targets to $265 and $270, respectively. Hedge funds, including Cypress Funds, Diamond Hill Capital, Triple Frond Partners, Egerton Capital, and First Pacific Advisors, have increased their positions in AMZN stock. The company’s year-to-date price performance stands at 5.69%, with a current market cap of $2470.8 billion.
More about Amazon.Com, Inc.
YTD Price Performance: 3.96%
Average Trading Volume: 36,742,835
Current Market Cap: $2426.1B
