Summit Financial Strategies Inc. Buys 1,078 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Summit Financial Strategies Inc. grew its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 13.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,821 shares of the e-commerce giant’s stock after acquiring an additional 1,078 shares during the quarter. Summit Financial Strategies Inc.’s holdings in Amazon.com were worth $1,644,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AMZN. Zhang Financial LLC boosted its position in shares of Amazon.com by 12.9% during the third quarter. Zhang Financial LLC now owns 51,091 shares of the e-commerce giant’s stock valued at $9,520,000 after buying an additional 5,828 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Amazon.com by 0.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,847,177 shares of the e-commerce giant’s stock valued at $550,217,000 after acquiring an additional 14,766 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Amazon.com by 19.2% in the third quarter. GAMMA Investing LLC now owns 119,205 shares of the e-commerce giant’s stock worth $22,211,000 after acquiring an additional 19,231 shares during the period. Stonekeep Investments LLC purchased a new position in shares of Amazon.com during the second quarter valued at approximately $2,588,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in Amazon.com by 164.1% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,053,958 shares of the e-commerce giant’s stock valued at $203,677,000 after purchasing an additional 654,908 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Transactions at Amazon.com

In other Amazon.com news, CFO Brian T. Olsavsky sold 14,600 shares of Amazon.com stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the completion of the transaction, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at $8,820,000. The trade was a 22.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $206.75, for a total transaction of $619,497,843.50. Following the transaction, the insider now owns 914,420,614 shares in the company, valued at $189,056,461,944.50. This trade represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,053,349 shares of company stock worth $1,256,503,289. 10.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on AMZN. Wedbush lifted their target price on shares of Amazon.com from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Truist Financial increased their target price on Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 1st. Sanford C. Bernstein upped their price target on shares of Amazon.com from $225.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Needham & Company LLC increased their price objective on shares of Amazon.com from $210.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, TD Cowen boosted their target price on shares of Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.45.

Amazon.com Price Performance

AMZN stock opened at $202.61 on Friday. The company has a fifty day simple moving average of $191.16 and a two-hundred day simple moving average of $185.69. Amazon.com, Inc. has a 52 week low of $139.52 and a 52 week high of $215.90. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The firm has a market capitalization 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.

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

Amazon.com 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.