Sovereign Financial Group Inc. Raises Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Sovereign Financial Group Inc. raised its position in Amazon.com, Inc. (NASDAQ:AMZN) by 19.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,107 shares of the e-commerce giant’s stock after buying an additional 2,939 shares during the quarter. Amazon.com makes up approximately 0.9% of Sovereign Financial Group Inc.’s portfolio, making the stock its 24th biggest position. Sovereign Financial Group Inc.’s holdings in Amazon.com were worth $3,266,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ShoreHaven Wealth Partners LLC lifted its position in shares of Amazon.com by 1.9% in the fourth quarter. ShoreHaven Wealth Partners LLC now owns 3,234 shares of the e-commerce giant’s stock valued at $491,000 after acquiring an additional 60 shares in the last quarter. O Dell Group LLC boosted its stake in Amazon.com by 0.5% in the 4th quarter. O Dell Group LLC now owns 13,581 shares of the e-commerce giant’s stock worth $2,064,000 after buying an additional 61 shares during the last quarter. Measured Wealth Private Client Group LLC boosted its stake in Amazon.com by 2.5% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 2,562 shares of the e-commerce giant’s stock worth $389,000 after buying an additional 62 shares during the last quarter. Ballew Advisors Inc boosted its stake in Amazon.com by 1.5% in the 1st quarter. Ballew Advisors Inc now owns 4,248 shares of the e-commerce giant’s stock worth $790,000 after buying an additional 62 shares during the last quarter. Finally, Socha Financial Group LLC boosted its stake in Amazon.com by 3.3% in the 4th quarter. Socha Financial Group LLC now owns 1,991 shares of the e-commerce giant’s stock worth $303,000 after buying an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analysts Set New Price Targets

AMZN has been the topic of a number of research analyst reports. Bank of America raised their price target on Amazon.com from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Truist Financial raised their price target on Amazon.com from $216.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. UBS Group raised their price target on Amazon.com from $215.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Monness Crespi & Hardt lifted their price objective on Amazon.com from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $205.00 price objective on shares of Amazon.com in a research note on Wednesday, May 15th. One investment analyst has rated the stock with a hold rating, forty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amazon.com currently has an average rating of “Buy” and a consensus price target of $215.86.

Insider Transactions at Amazon.com

In other news, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $184.00, for a total transaction of $92,000.00. Following the sale, the chief executive officer now directly owns 131,600 shares of the company’s stock, valued at $24,214,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Shelley Reynolds sold 2,700 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $181.39, for a total transaction of $489,753.00. Following the transaction, the vice president now directly owns 119,780 shares of the company’s stock, valued at $21,726,894.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $184.00, for a total value of $92,000.00. Following the transaction, the chief executive officer now directly owns 131,600 shares in the company, valued at $24,214,400. The disclosure for this sale can be found here. Insiders have sold 61,838 shares of company stock valued at $11,261,789 over the last three months. Company insiders own 10.80% of the company’s stock.

Amazon.com Stock Down 2.3 %

AMZN opened at $193.25 on Monday. Amazon.com, Inc. has a one year low of $118.35 and a one year high of $199.84. 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 $183.87 and its 200-day moving average is $173.28. The company has a market capitalization of $2.01 trillion, a PE ratio of 54.13, a P/E/G ratio of 1.38 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Tuesday, April 30th. The e-commerce giant reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.15. The company had revenue of $143.31 billion for the quarter, compared to the consensus estimate of $142.65 billion. Amazon.com had a return on equity of 19.86% and a net margin of 6.38%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 EPS. On average, equities analysts predict that Amazon.com, Inc. will post 4.72 EPS for the current fiscal year.

Amazon.com Profile

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