Optivise Advisory Services LLC Takes $649,000 Position in Amazon.com, Inc. (NASDAQ:AMZN)

Optivise Advisory Services LLC purchased a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,486 shares of the e-commerce giant’s stock, valued at approximately $649,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Foundations Investment Advisors LLC increased its position in shares of Amazon.com by 9.7% during 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 in the last quarter. Umpqua Bank raised its stake in Amazon.com by 0.4% in the 3rd quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock worth $6,544,000 after acquiring an additional 137 shares during the last quarter. Washington Trust Advisors Inc. lifted its position in Amazon.com by 0.4% during 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 during the period. BayBridge Capital Group LLC boosted its position in 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 last quarter. Finally, 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 during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on AMZN. Truist Financial boosted their target price on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Mizuho boosted their price objective on Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Evercore ISI raised their target price on Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Jefferies Financial Group boosted their price target on Amazon.com from $235.00 to $275.00 and gave the company a “buy” rating in a report on Monday, December 16th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Amazon.com from $250.00 to $280.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Two 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.44.

Insiders Place Their Bets

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the sale, the director now directly owns 24,912 shares in the company, valued at $4,958,982.72. This represents a 4.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas J. Herrington sold 5,502 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $205.81, for a total value of $1,132,366.62. Following the sale, the chief executive officer now owns 518,911 shares in the company, valued at approximately $106,797,072.91. This trade represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders 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 company insiders.

Amazon.com Stock Performance

NASDAQ AMZN opened at $224.19 on Friday. 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’s fifty day moving average is $212.34 and its two-hundred day moving average is $193.77. The firm has a market capitalization of $2.36 trillion, a P/E ratio of 48.01, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. Amazon.com, Inc. has a fifty-two week low of $144.05 and a fifty-two week high of $233.00.

Amazon.com (NASDAQ:AMZN) last issued its 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. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. During the same period in the previous year, the firm earned $0.85 earnings per share. Amazon.com’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, research analysts anticipate that Amazon.com, Inc. will post 5.29 earnings per share for the current 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.