49 Wealth Management LLC Has $1.90 Million Stake in Amazon.com, Inc. (NASDAQ:AMZN)

49 Wealth Management LLC increased its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 19.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,190 shares of the e-commerce giant’s stock after acquiring an additional 1,659 shares during the quarter. 49 Wealth Management LLC’s holdings in Amazon.com were worth $1,899,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. PayPay Securities Corp raised its holdings 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 purchasing an additional 64 shares during the period. Hoese & Co LLP bought a new stake in Amazon.com in the 3rd quarter valued at about $37,000. Bull Oak Capital LLC acquired a new position in Amazon.com during the 3rd quarter worth approximately $45,000. Christopher J. Hasenberg Inc raised its stake in Amazon.com by 650.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after buying an additional 260 shares during the period. Finally, Values First Advisors Inc. bought a new position in Amazon.com in the third quarter worth approximately $56,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Activity at Amazon.com

In related news, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 524,567 shares in the company, valued at $110,159,070. The trade was a 0.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jonathan Rubinstein sold 4,351 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the transaction, the director now owns 88,203 shares in the company, valued at $20,273,459.55. The trade was a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,032,344 shares of company stock valued at $1,253,456,822 over the last 90 days. 10.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AMZN has been the topic of a number of recent research reports. Rosenblatt Securities increased their target price on Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Morgan Stanley boosted their price objective on Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Moffett Nathanson raised their price objective on Amazon.com from $235.00 to $248.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Tigress Financial upped their price objective on shares of Amazon.com from $245.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, TD Cowen lifted their target price on shares of Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Two investment 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 company’s stock. Based on data from MarketBeat.com, Amazon.com presently has an average rating of “Moderate Buy” and a consensus target price of $243.00.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $220.22 on Friday. The stock’s 50-day simple moving average is $211.67 and its two-hundred day simple moving average is $193.59. Amazon.com, Inc. has a twelve month low of $144.05 and a twelve month high of $233.00. The firm has a market capitalization of $2.32 trillion, a P/E ratio of 47.16, a P/E/G ratio of 1.54 and a beta of 1.16. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The firm had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.85 EPS. As a group, equities analysts anticipate that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

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.