QRG Capital Management Inc. Acquires 21,224 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

QRG Capital Management Inc. raised its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 1.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,381,724 shares of the e-commerce giant’s stock after acquiring an additional 21,224 shares during the quarter. Amazon.com accounts for about 2.8% of QRG Capital Management Inc.’s holdings, making the stock its 4th biggest position. QRG Capital Management Inc.’s holdings in Amazon.com were worth $257,457,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in AMZN. Meridian Investment Counsel Inc. increased its holdings in Amazon.com by 1.8% in the second quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock worth $594,000 after buying an additional 55 shares during the last quarter. O Connor Financial Group LLC increased its stake in shares of Amazon.com by 2.2% during 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 last quarter. Cherrydale Wealth Management LLC raised its holdings in shares of 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 purchasing an additional 55 shares in the last quarter. Cedar Point Capital Partners LLC boosted its holdings in Amazon.com by 4.4% in the third quarter. Cedar Point Capital Partners LLC now owns 1,324 shares of the e-commerce giant’s stock worth $247,000 after purchasing an additional 56 shares in the last quarter. Finally, Mason & Associates Inc increased its position in Amazon.com by 0.4% during the second quarter. Mason & Associates Inc now owns 13,427 shares of the e-commerce giant’s stock worth $2,595,000 after buying an additional 57 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Stock Down 0.6 %

Shares of AMZN opened at $228.97 on Friday. The firm has a 50 day simple moving average of $199.89 and a two-hundred day simple moving average of $189.07. 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, Inc. has a one year low of $144.05 and a one year high of $231.20. The company has a market cap of $2.41 trillion, a P/E ratio of 49.03, a P/E/G ratio of 1.52 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.29. The business had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. Amazon.com’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.85 EPS. Research analysts forecast that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Insider Transactions at Amazon.com

In related news, Director Jonathan Rubinstein sold 4,351 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the sale, the director now owns 88,203 shares of the company’s stock, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $210.00, for a total value of $735,000.00. Following the completion of the transaction, the chief executive officer now directly owns 524,567 shares of the company’s stock, valued at approximately $110,159,070. The trade was a 0.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,034,534 shares of company stock valued at $1,253,883,872. 10.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AMZN. Wedbush upped their target price on Amazon.com from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. raised their target price on shares of Amazon.com from $230.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. BMO Capital Markets reissued an “outperform” rating and set a $236.00 target price on shares of Amazon.com in a research report on Tuesday, December 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $230.00 price target on shares of Amazon.com in a research report on Monday, October 7th. Finally, Piper Sandler boosted their price objective on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $237.98.

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.