Prossimo Advisors LLC Buys New Shares in Amazon.com, Inc. (NASDAQ:AMZN)

Prossimo Advisors LLC purchased a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 24,494 shares of the e-commerce giant’s stock, valued at approximately $4,564,000. Amazon.com comprises approximately 3.3% of Prossimo Advisors LLC’s investment portfolio, making the stock its 6th largest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. PayPay Securities Corp grew its stake in shares of Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after buying an additional 64 shares during the last quarter. Hoese & Co LLP purchased a new stake in Amazon.com during the 3rd quarter valued at about $37,000. Bull Oak Capital LLC bought a new position in Amazon.com during the 3rd quarter worth approximately $45,000. Values First Advisors Inc. bought a new position in Amazon.com during the 3rd quarter worth approximately $56,000. Finally, Christopher J. Hasenberg Inc lifted its position in Amazon.com by 650.0% in 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. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMZN has been the topic of several recent analyst reports. Truist Financial raised their target price on shares of Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Wells Fargo & Company restated an “equal weight” rating and issued a $197.00 price objective on shares of Amazon.com in a research report on Wednesday, November 20th. BMO Capital Markets reiterated an “outperform” rating and set a $236.00 target price on shares of Amazon.com in a report on Tuesday, December 3rd. Evercore ISI upped their price target on Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, The Goldman Sachs Group lifted their price objective on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $237.42.

Amazon.com Stock Performance

AMZN stock opened at $225.04 on Wednesday. The stock’s 50 day simple moving average is $198.19 and its 200 day simple moving average is $188.47. 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, Inc. has a 12-month low of $143.64 and a 12-month high of $230.08. The stock has a market capitalization of $2.37 trillion, a PE ratio of 48.19, a price-to-earnings-growth ratio of 1.52 and a beta of 1.16.

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. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. During the same period in the prior year, the company posted $0.85 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, research analysts forecast that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Insider Activity

In related 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 value of $246,237.22. Following the sale, the director now owns 24,912 shares in the company, valued at approximately $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Matthew S. Garman sold 15,260 shares of Amazon.com stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $200.19, for a total transaction of $3,054,899.40. Following the completion of the sale, the chief executive officer now directly owns 349,261 shares of the company’s stock, valued at approximately $69,918,559.59. This trade represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,030,183 shares of company stock valued at $1,252,883,795 in the last 90 days. 10.80% of the stock is currently owned by insiders.

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.