Mainstream Capital Management LLC Takes Position in Amazon.com, Inc. (NASDAQ:AMZN)

Mainstream Capital Management LLC acquired a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 33,302 shares of the e-commerce giant’s stock, valued at approximately $6,205,000. Amazon.com comprises approximately 5.3% of Mainstream Capital Management LLC’s portfolio, making the stock its 3rd largest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Foundations Investment Advisors LLC grew its stake in shares of Amazon.com by 9.7% in the third quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock worth $34,395,000 after purchasing an additional 16,392 shares during the last quarter. Umpqua Bank lifted its holdings in Amazon.com by 0.4% during the 3rd quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock worth $6,544,000 after buying an additional 137 shares during the period. Zhang Financial LLC grew its position in shares of Amazon.com by 12.9% in the 3rd quarter. Zhang Financial LLC now owns 51,091 shares of the e-commerce giant’s stock valued at $9,520,000 after buying an additional 5,828 shares during the last quarter. BayBridge Capital Group LLC increased its stake in shares of Amazon.com by 51.8% in the third quarter. BayBridge Capital Group LLC now owns 14,368 shares of the e-commerce giant’s stock valued at $2,677,000 after buying an additional 4,905 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Amazon.com by 0.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,847,177 shares of the e-commerce giant’s stock worth $550,217,000 after acquiring an additional 14,766 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on AMZN. Moffett Nathanson upped their target price on Amazon.com from $235.00 to $248.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Redburn Atlantic boosted their price target on shares of Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Morgan Stanley increased their price objective on shares of Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Needham & Company LLC restated a “buy” rating and issued a $250.00 target price on shares of Amazon.com in a report on Tuesday, December 10th. Finally, Pivotal Research initiated coverage on shares of Amazon.com in a research report on Friday, October 11th. They set a “buy” rating and a $260.00 price target on the stock. Two 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $240.67.

Amazon.com Trading Up 2.4 %

NASDAQ AMZN opened at $232.93 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The business has a fifty day simple moving average of $202.70 and a 200 day simple moving average of $190.16. Amazon.com, Inc. has a 12 month low of $144.05 and a 12 month high of $233.00. The firm has a market capitalization of $2.45 trillion, a P/E ratio of 49.88, a PEG ratio of 1.54 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last posted its earnings results 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 net margin of 8.04% and a return on equity of 22.41%. The firm had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. During the same quarter in the prior year, the business posted $0.85 EPS. The business’s revenue was up 11.0% compared to the same quarter last year. On average, analysts predict that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the transaction, the director now owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jonathan Rubinstein sold 4,351 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $229.85, for a total value of $1,000,077.35. Following the sale, the director now directly owns 88,203 shares of the company’s stock, valued at approximately $20,273,459.55. This represents a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,034,534 shares of company stock valued at $1,253,883,872. Corporate insiders own 10.80% of the company’s stock.

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.