Prosperity Financial Group Inc. Increases Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Prosperity Financial Group Inc. grew its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 4.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,949 shares of the e-commerce giant’s stock after purchasing an additional 613 shares during the period. Amazon.com comprises about 1.5% of Prosperity Financial Group Inc.’s investment portfolio, making the stock its 18th biggest holding. Prosperity Financial Group Inc.’s holdings in Amazon.com were worth $2,599,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. PayPay Securities Corp raised its position in Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after buying an additional 64 shares during the last quarter. Hoese & Co LLP bought a new stake in shares of Amazon.com in the third quarter worth approximately $37,000. Bull Oak Capital LLC purchased a new stake in Amazon.com in the third quarter worth approximately $45,000. Christopher J. Hasenberg Inc boosted its holdings in Amazon.com by 650.0% in the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after purchasing an additional 260 shares during the last quarter. Finally, Values First Advisors Inc. bought a new stake in Amazon.com in the 3rd quarter worth approximately $56,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on AMZN. Moffett Nathanson lifted their price objective on Amazon.com from $235.00 to $248.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Monness Crespi & Hardt boosted their price target on Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, November 1st. JMP Securities reiterated a “market outperform” rating and issued a $285.00 price objective on shares of Amazon.com in a research note on Monday, December 16th. Royal Bank of Canada boosted their target price on shares of Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Evercore ISI upped their target price on shares of Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Two research 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 company. According to data from MarketBeat.com, Amazon.com presently has an average rating of “Moderate Buy” and a consensus target price of $243.44.

Amazon.com Trading Up 1.8 %

AMZN stock opened at $224.19 on Friday. The firm has a fifty day moving average price of $213.07 and a 200 day moving average price of $194.05. Amazon.com, Inc. has a fifty-two week low of $144.05 and a fifty-two week high of $233.00. The firm has a market cap of $2.36 trillion, a PE ratio of 48.01, a price-to-earnings-growth 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.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data 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 business had revenue of $158.88 billion during the quarter, compared to analysts’ expectations 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 was up 11.0% on a year-over-year basis. During the same period last year, the company posted $0.85 EPS. Sell-side analysts anticipate that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $229.85, for a total value of $1,000,077.35. Following the completion of the transaction, the director now owns 88,203 shares in the company, valued at approximately $20,273,459.55. The trade was a 4.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the transaction, the director now directly owns 24,912 shares in the company, valued at approximately $4,958,982.72. This represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,032,344 shares of company stock worth $1,253,456,822. Corporate insiders own 10.80% of the company’s stock.

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.