Ameriprise Financial Inc. Buys 1,329,150 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Ameriprise Financial Inc. raised its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 3.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,973,804 shares of the e-commerce giant’s stock after acquiring an additional 1,329,150 shares during the quarter. Amazon.com comprises approximately 2.1% of Ameriprise Financial Inc.’s investment portfolio, making the stock its 4th biggest holding. Ameriprise Financial Inc. owned approximately 0.39% of Amazon.com worth $7,917,906,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AMZN. PayPay Securities Corp lifted its holdings in Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after buying an additional 64 shares in the last quarter. 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 during the last quarter. Koesten Hirschmann & Crabtree INC. acquired a new stake in Amazon.com in the first quarter worth about $69,000. Innealta Capital LLC acquired a new stake in Amazon.com in the second quarter worth about $77,000. Finally, Abich Financial Wealth Management LLC raised its holdings in Amazon.com by 84.7% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 434 shares of the e-commerce giant’s stock worth $84,000 after purchasing an additional 199 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AMZN shares. Telsey Advisory Group reiterated an “outperform” rating and set a $215.00 price target on shares of Amazon.com in a research report on Thursday, October 10th. Evercore ISI reiterated an “outperform” rating and set a $240.00 target price on shares of Amazon.com in a research report on Friday, October 11th. The Goldman Sachs Group cut their price target on Amazon.com from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Bank of America decreased their price objective on Amazon.com from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Finally, Rosenblatt Securities increased their target price on Amazon.com from $220.00 to $221.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. 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 stock. According to data from MarketBeat, Amazon.com has a consensus rating of “Moderate Buy” and an average price target of $236.78.

Amazon.com Price Performance

NASDAQ:AMZN opened at $187.83 on Friday. The stock has a market capitalization of $1.95 trillion, a PE ratio of 52.61, a P/E/G 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. The firm has a fifty day simple moving average of $183.29 and a 200 day simple moving average of $183.56. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23.

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

Insider Buying and Selling

In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the sale, the senior vice president now owns 62,420 shares in the company, valued at $12,171,900. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the transaction, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $189.25, for a total value of $662,375.00. Following the sale, the chief executive officer now directly owns 503,753 shares of the company’s stock, valued at $95,335,255.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,355 shares of company stock worth $9,877,423. Company insiders own 10.80% of the company’s stock.

About Amazon.com

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.