Senator Markwayne Mullin Acquires Amazon Shares Amid Market Activity

Senator Markwayne Mullin of Oklahoma has recently purchased shares in Amazon.com, Inc. (NASDAQ:AMZN), as indicated in a filing made on January 16, 2023. The Senator acquired between $100,001 and $250,000 worth of Amazon stock on December 29, 2022. This transaction arrives during a period of significant market engagement for the e-commerce giant.

During midday trading on Friday, Amazon’s shares increased by $0.94, reaching a price of $239.12. The trading volume for the day was notable, with 45,817,947 shares exchanged, surpassing the average volume of 33,522,880. Amazon currently boasts a market capitalization of $2.56 trillion, a price-to-earnings (P/E) ratio of 33.77, and a beta of 1.37. The company’s stock has experienced fluctuations over the past year, with a low of $161.38 and a high of $258.60.

Recent Insider Transactions

In related developments, several insider transactions at Amazon have come to light. The company’s CEO, Douglas J. Herrington, sold 22,000 shares on October 31, 2022, at an average price of $250.03, totaling over $5.5 million. Post-transaction, Herrington retained 493,507 shares valued at approximately $123.4 million, reflecting a 4.27% reduction in his holdings.

Another significant sale involved CEO Matthew S. Garman, who disposed of 17,768 shares on November 21, 2022, at an average price of $216.90, amounting to $3.85 million. After this sale, Garman held 6,273 shares valued at around $1.36 million, marking a dramatic 73.91% decrease in his ownership.

Insider transactions in the last quarter have resulted in the sale of a total of 79,734 shares, valued at approximately $18.5 million, indicating that insiders currently own 9.70% of Amazon’s stock.

Institutional Investor Activity

Hedge funds have recently adjusted their positions in Amazon, reflecting ongoing interest in the company. Notably, Wilson Asset Management International PTY Ltd. acquired a new stake worth $11.1 million in the second quarter of 2022. ARK Investment Management LLC increased its holdings by 8.3%, now owning 1,140,494 shares valued at $250.2 million after adding 86,978 shares.

Other notable increases include Buckhead Capital Management LLC, which grew its position by 16.1%, and Border to Coast Pensions Partnership Ltd., which raised its stake by 6.0%. Currently, institutional investors hold approximately 72.20% of Amazon’s stock, underscoring the company’s robust appeal.

Equities analysts have also weighed in on Amazon’s performance. The Goldman Sachs Group recently raised its price target for Amazon from $290.00 to $300.00 with a “buy” rating. Conversely, Wall Street Zen downgraded the stock from a “buy” to a “hold” rating. Overall, analysts have a consensus rating of “Moderate Buy” for Amazon, with a target price of $295.96.

Senator Mullin’s investment in Amazon reflects a growing trend of political figures engaging with significant market players, alongside the ongoing activity of institutional and retail investors in one of the world’s largest e-commerce platforms.