Shum Financial Group Inc. Invests $2.11 Million in Amazon.com, Inc. (NASDAQ:AMZN)

Shum Financial Group Inc. acquired a new stake in Amazon.com, Inc. (NASDAQ:AMZN) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,570 shares of the e-commerce giant’s stock, valued at approximately $2,109,000. Amazon.com comprises approximately 1.8% of Shum Financial Group Inc.’s investment portfolio, making the stock its 18th biggest position.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Legal & General Group Plc raised its position in shares of Amazon.com by 1.5% in the 2nd quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock valued at $13,466,933,000 after acquiring an additional 1,042,177 shares during the period. Bank of New York Mellon Corp grew its holdings in Amazon.com by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock valued at $13,091,909,000 after purchasing an additional 289,532 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Amazon.com by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 57,308,094 shares of the e-commerce giant’s stock valued at $10,678,217,000 after purchasing an additional 1,980,663 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Amazon.com by 2.0% in the third quarter. Fisher Asset Management LLC now owns 44,653,571 shares of the e-commerce giant’s stock worth $8,320,300,000 after purchasing an additional 873,174 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of Amazon.com by 3.4% during the second quarter. Ameriprise Financial Inc. now owns 40,973,804 shares of the e-commerce giant’s stock worth $7,917,906,000 after purchasing an additional 1,329,150 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Benchmark upped their price objective on shares of Amazon.com from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Maxim Group increased their price target on Amazon.com from $251.00 to $260.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Wedbush lifted their price objective on Amazon.com from $250.00 to $260.00 and gave the company an “outperform” rating in a report on Monday. DA Davidson reiterated a “buy” rating and issued a $235.00 price objective on shares of Amazon.com in a research report on Thursday, October 10th. Finally, The Goldman Sachs Group raised their target price on shares of Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and a consensus target price of $243.67.

Insider Activity

In other Amazon.com news, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com stock in a transaction dated 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 completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the transaction, the insider now owns 917,416,976 shares in the company, valued at approximately $191,602,535,437.60. The trade was a 0.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,032,344 shares of company stock valued at $1,253,456,822. 10.80% of the stock is owned by insiders.

Amazon.com Stock Up 1.5 %

AMZN opened at $227.61 on Tuesday. The stock’s fifty day simple moving average is $213.85 and its 200 day simple moving average is $194.50. Amazon.com, Inc. has a 1-year low of $146.15 and a 1-year high of $233.00. The stock has a market cap of $2.39 trillion, a PE ratio of 48.74, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21.

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 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 during the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter last year, the company posted $0.85 EPS. Amazon.com’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, research analysts expect that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Amazon.com 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.