Miracle Mile Advisors LLC Grows Position in Amazon.com, Inc. (NASDAQ:AMZN)

Miracle Mile Advisors LLC raised its position in Amazon.com, Inc. (NASDAQ:AMZN) by 2.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 213,958 shares of the e-commerce giant’s stock after purchasing an additional 5,451 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Amazon.com were worth $39,867,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. PayPay Securities Corp boosted its stake in shares of Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after purchasing an additional 64 shares during the period. Christopher J. Hasenberg Inc lifted its holdings in Amazon.com by 650.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after buying an additional 260 shares in the last quarter. Koesten Hirschmann & Crabtree INC. purchased a new stake in Amazon.com in the 1st quarter valued at about $69,000. Innealta Capital LLC bought a new position in Amazon.com in the 2nd quarter worth about $77,000. Finally, Abich Financial Wealth Management LLC grew its stake in Amazon.com by 84.7% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 434 shares of the e-commerce giant’s stock worth $84,000 after acquiring an additional 199 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Up 6.2 %

Amazon.com stock opened at $197.93 on Friday. Amazon.com, Inc. has a fifty-two week low of $136.47 and a fifty-two week high of $201.20. The company has a market cap of $2.08 trillion, a PE ratio of 42.38, a PEG ratio of 1.46 and a beta of 1.14. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. The business’s 50-day simple moving average is $184.82 and its two-hundred day simple moving average is $183.76.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The company had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. During the same quarter in the prior year, the company earned $0.85 EPS. Amazon.com’s quarterly revenue was up 11.0% on a year-over-year basis. Equities analysts anticipate that Amazon.com, Inc. will post 4.84 EPS for the current year.

Insider Transactions at Amazon.com

In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the sale, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Brian T. Olsavsky sold 14,600 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the completion of the transaction, the chief financial officer now directly owns 49,000 shares in the company, valued at $8,820,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were 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 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 disclosure for this sale can be found here. Insiders have sold 50,855 shares of company stock worth $9,215,048 over the last 90 days. 10.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AMZN. Wedbush boosted their price target on Amazon.com from $225.00 to $250.00 and gave the company an “outperform” rating in a report on Friday. TD Cowen lifted their target price on Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Friday. The Goldman Sachs Group increased their price target on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday. Cantor Fitzgerald restated an “overweight” rating and set a $230.00 price target on shares of Amazon.com in a research note on Monday, October 7th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $235.00 price objective on shares of Amazon.com in a research note on Thursday, October 10th. Two research analysts have rated the stock with a hold rating, forty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Amazon.com currently has an average rating of “Moderate Buy” and a consensus price target of $246.02.

Amazon.com Company 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.