Kestra Investment Management LLC Invests $5.62 Million in Amazon.com, Inc. (NASDAQ:AMZN)

Kestra Investment Management LLC acquired a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 29,102 shares of the e-commerce giant’s stock, valued at approximately $5,624,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Heritage Oak Wealth Advisors LLC purchased a new stake in Amazon.com in the 2nd quarter worth approximately $1,130,000. Souders Financial Advisors boosted its holdings in shares of Amazon.com by 0.9% during the second quarter. Souders Financial Advisors now owns 31,491 shares of the e-commerce giant’s stock worth $6,086,000 after purchasing an additional 279 shares during the last quarter. Clearbridge Investments LLC grew its position in shares of Amazon.com by 1.6% in the second quarter. Clearbridge Investments LLC now owns 19,653,717 shares of the e-commerce giant’s stock valued at $3,798,081,000 after purchasing an additional 306,689 shares during the period. Dana Investment Advisors Inc. increased its stake in Amazon.com by 1.3% in the second quarter. Dana Investment Advisors Inc. now owns 303,005 shares of the e-commerce giant’s stock valued at $58,556,000 after purchasing an additional 4,031 shares during the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new position in Amazon.com during the second quarter worth about $3,325,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Performance

Shares of AMZN stock opened at $190.83 on Wednesday. The stock has a market capitalization of $1.99 trillion, a price-to-earnings ratio of 53.45, a PEG ratio of 1.38 and a beta of 1.14. Amazon.com, Inc. has a one year low of $128.56 and a one year high of $201.20. The company’s 50-day simple moving average is $183.94 and its 200-day simple moving average is $183.57. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10.

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

Analyst Ratings Changes

AMZN has been the subject of several recent analyst reports. TD Securities lifted their price target on Amazon.com from $225.00 to $245.00 in a report on Wednesday, July 10th. Itau BBA Securities downgraded shares of Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 target price for the company. in a report on Friday, August 2nd. Morgan Stanley reaffirmed an “overweight” rating and set a $210.00 price target on shares of Amazon.com in a research note on Thursday, October 3rd. Piper Sandler lowered their price objective on shares of Amazon.com from $220.00 to $215.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $230.00 target price on shares of Amazon.com in a research report on Monday, October 7th. Two research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $236.76.

Insider Buying and Selling at Amazon.com

In other news, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of 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 filing with the SEC, which is accessible through this hyperlink. In other news, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the sale, the chief executive officer now directly owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the transaction, the senior vice president now owns 62,420 shares of the company’s stock, valued at $12,171,900. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,355 shares of company stock worth $9,877,423 over the last 90 days. 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.