Paladin Wealth LLC Makes New $2.49 Million Investment in Amazon.com, Inc. (NASDAQ:AMZN)

Paladin Wealth LLC acquired a new stake in Amazon.com, Inc. (NASDAQ:AMZN) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,343 shares of the e-commerce giant’s stock, valued at approximately $2,486,000. Amazon.com accounts for about 2.2% of Paladin Wealth LLC’s investment portfolio, making the stock its 9th biggest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. PayPay Securities Corp lifted its stake in shares of Amazon.com by 64.6% in the 2nd 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 last quarter. Hoese & Co LLP purchased a new stake in Amazon.com during the third quarter worth about $37,000. Christopher J. Hasenberg Inc grew its stake in shares of Amazon.com by 650.0% in the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after acquiring an additional 260 shares in the last quarter. Koesten Hirschmann & Crabtree INC. purchased a new stake in Amazon.com during the 1st quarter worth about $69,000. Finally, Innealta Capital LLC acquired a new stake in Amazon.com in the second quarter valued at approximately $77,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Evercore ISI upped their price objective on Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Rosenblatt Securities increased their target price on shares of Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their price target on Amazon.com from $230.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Benchmark increased their price objective on Amazon.com from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, UBS Group boosted their target price on Amazon.com from $220.00 to $223.00 and gave the company a “buy” rating in a report on Monday, October 28th. Two research analysts have rated the stock with a hold rating, forty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Amazon.com currently has an average rating of “Moderate Buy” and a consensus target price of $234.55.

Insider Activity at Amazon.com

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

Amazon.com Trading Down 0.6 %

Shares of NASDAQ:AMZN opened at $206.84 on Tuesday. The stock 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. Amazon.com, Inc. has a 1-year low of $139.52 and a 1-year high of $212.25. The company has a 50 day moving average price of $187.83 and a 200 day moving average price of $184.71. 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 (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.29. The firm had revenue of $158.88 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.85 EPS. On average, research analysts anticipate that Amazon.com, Inc. will post 5.27 EPS for the current fiscal year.

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.