Elk River Wealth Management LLC Buys 558 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Elk River Wealth Management LLC raised its position in Amazon.com, Inc. (NASDAQ:AMZN) by 0.7% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 77,182 shares of the e-commerce giant’s stock after buying an additional 558 shares during the period. Amazon.com comprises approximately 2.6% of Elk River Wealth Management LLC’s holdings, making the stock its 12th largest holding. Elk River Wealth Management LLC’s holdings in Amazon.com were worth $14,381,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GenTrust LLC lifted its stake in shares of Amazon.com by 1.4% in the 1st quarter. GenTrust LLC now owns 37,195 shares of the e-commerce giant’s stock valued at $6,709,000 after purchasing an additional 525 shares during the period. Horizon Bancorp Inc. IN increased its holdings in Amazon.com by 2.5% in the first quarter. Horizon Bancorp Inc. IN now owns 3,793 shares of the e-commerce giant’s stock valued at $684,000 after purchasing an additional 94 shares during the last quarter. FORVIS Wealth Advisors LLC lifted its stake in Amazon.com by 68.0% in the first quarter. FORVIS Wealth Advisors LLC now owns 60,901 shares of the e-commerce giant’s stock valued at $10,985,000 after buying an additional 24,644 shares during the period. Mezzasalma Advisors LLC boosted its holdings in Amazon.com by 7.7% during the first quarter. Mezzasalma Advisors LLC now owns 53,452 shares of the e-commerce giant’s stock worth $9,642,000 after buying an additional 3,842 shares during the last quarter. Finally, Kesler Norman & Wride LLC grew its position in shares of Amazon.com by 145.9% during the 1st quarter. Kesler Norman & Wride LLC now owns 16,994 shares of the e-commerce giant’s stock worth $3,065,000 after buying an additional 10,082 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on AMZN shares. Benchmark increased their price target on shares of Amazon.com from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Robert W. Baird increased their target price on shares of Amazon.com from $213.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. DA Davidson reissued a “buy” rating and issued a $235.00 price target on shares of Amazon.com in a report on Thursday, October 10th. Jefferies Financial Group raised their price objective on Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, TD Cowen boosted their target price on Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Amazon.com currently has an average rating of “Moderate Buy” and an average price target of $234.55.

Amazon.com Stock Performance

Shares of AMZN stock opened at $206.84 on Tuesday. The company has a market capitalization of $2.17 trillion, a price-to-earnings ratio of 44.29, a PEG ratio of 1.40 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. Amazon.com, Inc. has a 52 week low of $139.52 and a 52 week high of $212.25. The company has a 50-day simple moving average of $187.83 and a 200 day simple moving average of $184.71.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The company had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.85 earnings per share. On average, sell-side analysts predict that Amazon.com, Inc. will post 5.27 earnings per share for the current year.

Insider Buying and Selling at Amazon.com

In other news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction 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 completion of the sale, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 2,056,534 shares in the company, valued at $371,759,651.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan Rubinstein sold 5,004 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the completion of the sale, the director now directly owns 99,396 shares of the company’s stock, valued at $19,864,290.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,859 shares of company stock valued at $10,215,097 in the last ninety days. 10.80% of the stock is currently owned by corporate insiders.

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.