Axxcess Wealth Management LLC Purchases 7,203 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Axxcess Wealth Management LLC raised its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 262,687 shares of the e-commerce giant’s stock after purchasing an additional 7,203 shares during the quarter. Amazon.com accounts for approximately 1.2% of Axxcess Wealth Management LLC’s portfolio, making the stock its 16th largest position. Axxcess Wealth Management LLC’s holdings in Amazon.com were worth $48,946,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Foundations Investment Advisors LLC raised 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 raised its position in Amazon.com by 0.4% in the 3rd quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock valued at $6,544,000 after buying an additional 137 shares during the last quarter. Zhang Financial LLC lifted its stake in Amazon.com by 12.9% during the 3rd quarter. Zhang Financial LLC now owns 51,091 shares of the e-commerce giant’s stock valued at $9,520,000 after acquiring an additional 5,828 shares in the last quarter. BayBridge Capital Group LLC boosted its holdings in Amazon.com by 51.8% during the 3rd quarter. BayBridge Capital Group LLC now owns 14,368 shares of the e-commerce giant’s stock worth $2,677,000 after acquiring an additional 4,905 shares during the last quarter. Finally, Washington Trust Advisors Inc. grew its stake in shares of Amazon.com by 0.4% in the 3rd quarter. Washington Trust Advisors Inc. now owns 225,254 shares of the e-commerce giant’s stock worth $41,972,000 after acquiring an additional 982 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AMZN shares. Oppenheimer boosted their price target on shares of Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Pivotal Research initiated coverage on Amazon.com in a research note on Friday, October 11th. They issued a “buy” rating and a $260.00 target price on the stock. Morgan Stanley increased their price target on Amazon.com from $210.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Redburn Atlantic boosted their price objective on Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, The Goldman Sachs Group raised their target price on Amazon.com from $230.00 to $240.00 and gave the company 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 assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.00.

Amazon.com Price Performance

NASDAQ:AMZN opened at $224.92 on Friday. The firm has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 48.16, a P/E/G ratio of 1.54 and a beta of 1.16. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The stock has a fifty day moving average of $205.83 and a 200 day moving average of $191.30. Amazon.com, Inc. has a 52-week low of $144.05 and a 52-week high of $233.00.

Amazon.com (NASDAQ:AMZN) last issued 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 the consensus estimate of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the company posted $0.85 EPS. On average, research analysts expect that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Insider Buying and Selling at Amazon.com

In related news, Director Jonathan Rubinstein sold 5,004 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $199.85, for a total value of $1,000,049.40. Following the transaction, the director now owns 99,396 shares of the company’s stock, valued at $19,864,290.60. This represents a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the sale, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. This trade represents a 3.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,034,534 shares of company stock worth $1,253,883,872 over the last three months. 10.80% of the stock is owned by insiders.

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.