NovaPoint Capital LLC Buys 1,111 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

NovaPoint Capital LLC grew its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 15.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,195 shares of the e-commerce giant’s stock after purchasing an additional 1,111 shares during the period. NovaPoint Capital LLC’s holdings in Amazon.com were worth $1,527,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of AMZN. PayPay Securities Corp increased 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 worth $32,000 after acquiring an additional 64 shares in the last quarter. Hoese & Co LLP bought a new position in shares of Amazon.com during the third quarter valued at approximately $37,000. Christopher J. Hasenberg Inc lifted its holdings in shares of Amazon.com by 650.0% during the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after purchasing an additional 260 shares during the last quarter. Koesten Hirschmann & Crabtree INC. bought a new stake in shares of Amazon.com in the 1st quarter worth approximately $69,000. Finally, Innealta Capital LLC purchased a new stake in shares of Amazon.com in the 2nd quarter worth approximately $77,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Price Performance

NASDAQ:AMZN opened at $204.61 on Wednesday. The business’s 50-day moving average is $192.19 and its 200 day moving average is $186.06. Amazon.com, Inc. has a 12 month low of $141.50 and a 12 month high of $215.90. The company has a market capitalization of $2.15 trillion, a P/E ratio of 43.81, a P/E/G ratio of 1.36 and a beta of 1.14. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21.

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 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 business had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. During the same period in the prior year, the firm earned $0.85 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, equities research analysts forecast that Amazon.com, Inc. will post 5.27 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the completion of the transaction, the insider now directly owns 917,416,976 shares of the company’s stock, valued at approximately $191,602,535,437.60. The trade was a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the sale, the director now directly owns 24,912 shares in the company, valued at $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,011,423 shares of company stock valued at $1,249,093,896 in the last ninety days. Insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

AMZN has been the topic of several analyst reports. Rosenblatt Securities boosted their target price on Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Monness Crespi & Hardt raised their price objective on shares of Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Piper Sandler lifted their target price on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Maxim Group increased their price target on shares of Amazon.com from $251.00 to $260.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Sanford C. Bernstein boosted their price objective on shares of Amazon.com from $225.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Amazon.com has an average rating of “Moderate Buy” and an average target price 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.