Echo Wealth Management LLC Increases Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Echo Wealth Management LLC increased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 17.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,953 shares of the e-commerce giant’s stock after buying an additional 1,461 shares during the period. Amazon.com comprises about 1.3% of Echo Wealth Management LLC’s portfolio, making the stock its 19th biggest position. Echo Wealth Management LLC’s holdings in Amazon.com were worth $1,843,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. PayPay Securities Corp boosted its stake in Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares during the period. Hoese & Co LLP acquired a new stake in Amazon.com during the 3rd quarter worth approximately $37,000. Christopher J. Hasenberg Inc grew its stake in shares of Amazon.com by 650.0% in the 2nd 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. acquired a new position in shares of Amazon.com in the first quarter valued at approximately $69,000. Finally, Innealta Capital LLC purchased a new stake in shares of Amazon.com during the second quarter worth approximately $77,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Stock Performance

Amazon.com stock opened at $198.70 on Friday. 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 one year low of $142.81 and a one year high of $215.90. The stock’s 50 day moving average price is $192.79 and its 200 day moving average price is $186.26. The firm has a market capitalization of $2.09 trillion, a PE ratio of 42.55, a price-to-earnings-growth ratio of 1.37 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. During the same period in the prior year, the firm earned $0.85 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts expect that Amazon.com, Inc. will post 5.27 EPS for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other news, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were 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 owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. This trade represents a 4.73 % 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. Also, SVP David Zapolsky sold 2,190 shares of the company’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 directly owns 62,420 shares in the company, valued at $12,171,900. This represents a 3.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,011,423 shares of company stock worth $1,249,093,896 in the last 90 days. 10.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on AMZN. Piper Sandler boosted their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Monness Crespi & Hardt increased their price target on shares of Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Barclays raised their price objective on shares of Amazon.com from $220.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Itau BBA Securities downgraded Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 target price for the company. in a research note on Friday, August 2nd. Finally, TD Cowen lifted their price target 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 analysts have rated the stock with a hold rating, forty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $235.77.

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.