Mcrae Capital Management Inc. Acquires 22,675 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Mcrae Capital Management Inc. lifted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 931.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,110 shares of the e-commerce giant’s stock after purchasing an additional 22,675 shares during the period. Amazon.com accounts for about 0.9% of Mcrae Capital Management Inc.’s portfolio, making the stock its 28th biggest position. Mcrae Capital Management Inc.’s holdings in Amazon.com were worth $4,679,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Meridian Investment Counsel Inc. raised its stake in Amazon.com by 1.8% during the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock valued at $594,000 after purchasing an additional 55 shares during the period. O Connor Financial Group LLC boosted its stake in Amazon.com by 2.2% in the 3rd quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock worth $473,000 after purchasing an additional 55 shares during the period. Cherrydale Wealth Management LLC grew its holdings in Amazon.com by 0.7% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock valued at $1,396,000 after buying an additional 55 shares in the last quarter. Mason & Associates Inc raised its position in shares of Amazon.com by 0.4% during the second quarter. Mason & Associates Inc now owns 13,427 shares of the e-commerce giant’s stock valued at $2,595,000 after buying an additional 57 shares during the last quarter. Finally, West Wealth Group LLC lifted its holdings in shares of Amazon.com by 0.4% in the second quarter. West Wealth Group LLC now owns 13,144 shares of the e-commerce giant’s stock worth $2,540,000 after buying an additional 57 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analysts Set New Price Targets

AMZN has been the subject of several research analyst reports. Morgan Stanley raised their target price on shares of Amazon.com from $210.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Royal Bank of Canada raised their price objective on Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft lifted their target price on Amazon.com from $225.00 to $232.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus increased their price target on Amazon.com from $224.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Monness Crespi & Hardt raised their price target on Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $236.20.

Insiders Place Their Bets

In other news, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the sale, the director now owns 24,912 shares in the company, valued at approximately $4,958,982.72. The trade was a 4.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP David Zapolsky sold 2,190 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was 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 of the company’s stock, valued at $12,171,900. The trade was a 3.39 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,026,683 shares of company stock worth $1,252,148,795. 10.80% of the stock is currently owned by company insiders.

Amazon.com Price Performance

Shares of AMZN stock opened at $207.89 on Monday. The company has a market capitalization of $2.19 trillion, a P/E ratio of 44.52, a P/E/G ratio of 1.39 and a beta of 1.14. The company’s 50-day simple moving average is $194.78 and its two-hundred day simple moving average is $186.94. Amazon.com, Inc. has a one year low of $142.81 and a one year high of $215.90. 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 (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The firm had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. Amazon.com’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 earnings per share. As a group, equities analysts anticipate that Amazon.com, Inc. will post 5.29 EPS for the current year.

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.