Pine Harbor Wealth Management LLC Acquires 585 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Pine Harbor Wealth Management LLC grew its position in Amazon.com, Inc. (NASDAQ:AMZN) by 8.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,801 shares of the e-commerce giant’s stock after purchasing an additional 585 shares during the quarter. Amazon.com makes up about 0.9% of Pine Harbor Wealth Management LLC’s portfolio, making the stock its 26th largest position. Pine Harbor Wealth Management LLC’s holdings in Amazon.com were worth $1,508,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Cooksen Wealth LLC bought a new position in shares of Amazon.com in the fourth quarter valued at approximately $30,000. PayPay Securities Corp increased its stake in shares of Amazon.com by 64.6% in the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after buying an additional 64 shares during the period. Christopher J. Hasenberg Inc boosted its holdings in Amazon.com by 650.0% in the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after acquiring an additional 260 shares in the last quarter. Steph & Co. bought a new stake in shares of Amazon.com during the 1st quarter valued at $65,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in Amazon.com in the 1st quarter worth about $69,000. 72.20% of the stock is owned by institutional investors.

Amazon.com Stock Up 0.1 %

NASDAQ AMZN opened at $187.69 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. The stock’s 50 day moving average is $180.63 and its two-hundred day moving average is $183.30. The company has a market capitalization of $1.95 trillion, a price-to-earnings ratio of 52.57, a PEG ratio of 1.38 and a beta of 1.14. Amazon.com, Inc. has a 1-year low of $118.35 and a 1-year high of $201.20.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The company had revenue of $147.98 billion for the quarter, compared to the consensus estimate of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. Equities analysts forecast that Amazon.com, Inc. will post 4.85 earnings per share for the current fiscal year.

Insider Transactions at Amazon.com

In other Amazon.com news, CFO Brian T. Olsavsky sold 14,600 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the transaction, the chief financial officer now owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $189.25, for a total transaction of $662,375.00. Following the completion of the sale, the chief executive officer now owns 503,753 shares in the company, valued at approximately $95,335,255.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Brian T. Olsavsky sold 14,600 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the completion of the sale, the chief financial officer now owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,355 shares of company stock valued at $9,877,423 in the last three months. 10.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Scotiabank assumed coverage on shares of Amazon.com in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $245.00 price objective on the stock. Evercore ISI restated an “outperform” rating and issued a $240.00 price target on shares of Amazon.com in a research report on Friday, October 11th. Truist Financial lifted their target price on Amazon.com from $230.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. DA Davidson restated a “buy” rating and issued a $235.00 price objective on shares of Amazon.com in a report on Thursday, October 10th. Finally, Morgan Stanley restated an “overweight” rating and set a $210.00 price target on shares of Amazon.com in a research note on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $224.00.

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.