Drake & Associates LLC Acquires 1,273 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Drake & Associates LLC raised its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 22.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,977 shares of the e-commerce giant’s stock after purchasing an additional 1,273 shares during the period. Amazon.com accounts for about 0.4% of Drake & Associates LLC’s holdings, making the stock its 21st largest holding. Drake & Associates LLC’s holdings in Amazon.com were worth $1,300,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AMZN. Trust Co. of Vermont increased its stake in shares of Amazon.com by 2.2% during the third quarter. Trust Co. of Vermont now owns 314,803 shares of the e-commerce giant’s stock valued at $58,657,000 after buying an additional 6,720 shares during the period. Secure Asset Management LLC boosted its holdings in Amazon.com by 7.7% in the third quarter. Secure Asset Management LLC now owns 49,478 shares of the e-commerce giant’s stock valued at $9,219,000 after acquiring an additional 3,521 shares in the last quarter. Marshall Financial Group LLC boosted its holdings in Amazon.com by 49.3% in the third quarter. Marshall Financial Group LLC now owns 10,595 shares of the e-commerce giant’s stock valued at $1,974,000 after acquiring an additional 3,497 shares in the last quarter. Trifecta Capital Advisors LLC increased its position in Amazon.com by 3.1% during the 3rd quarter. Trifecta Capital Advisors LLC now owns 107,530 shares of the e-commerce giant’s stock valued at $20,036,000 after purchasing an additional 3,275 shares during the period. Finally, Bleakley Financial Group LLC raised its holdings in Amazon.com by 2.7% in the 3rd quarter. Bleakley Financial Group LLC now owns 281,377 shares of the e-commerce giant’s stock worth $52,429,000 after purchasing an additional 7,314 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Transactions at Amazon.com

In other news, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the sale, the senior vice president now owns 62,420 shares of the company’s stock, valued at $12,171,900. The trade was a 3.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total value of $3,757,123.68. Following the completion of the transaction, the chief executive officer now directly owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. This represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,053,349 shares of company stock worth $1,256,503,289 in the last quarter. Company insiders own 10.80% of the company’s stock.

Amazon.com Stock Performance

AMZN stock opened at $202.61 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. Amazon.com, Inc. has a 1 year low of $139.52 and a 1 year high of $215.90. The company has a market cap of $2.13 trillion, a P/E ratio of 43.39, a price-to-earnings-growth ratio of 1.44 and a beta of 1.14. The stock’s fifty day moving average price is $191.16 and its 200-day moving average price is $185.69.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The company 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%. Amazon.com’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 earnings per share. On average, equities analysts forecast that Amazon.com, Inc. will post 5.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Amazon.com from $230.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. JMP Securities upped their target price on Amazon.com from $265.00 to $285.00 and gave the stock a “market outperform” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft increased their target price on Amazon.com from $225.00 to $232.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Piper Sandler lifted their price target on Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, Needham & Company LLC increased their price objective on Amazon.com from $210.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday. Two research analysts have rated the stock with a hold rating, forty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.45.

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.