Amazon.com, Inc. (NASDAQ:AMZN) Position Lifted by Franklin Resources Inc.

Franklin Resources Inc. boosted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,156,540 shares of the e-commerce giant’s stock after buying an additional 257,072 shares during the quarter. Amazon.com makes up 2.5% of Franklin Resources Inc.’s portfolio, making the stock its 4th largest position. Franklin Resources Inc. owned 0.45% of Amazon.com worth $8,843,714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Icon Wealth Advisors LLC boosted its holdings in shares of Amazon.com by 20.5% in the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after purchasing an additional 25,581 shares during the period. PayPay Securities Corp raised its position in Amazon.com by 64.6% during the 2nd 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 in the last quarter. Hoese & Co LLP purchased a new stake in shares of Amazon.com in the 3rd quarter worth $37,000. Bull Oak Capital LLC bought a new position in shares of Amazon.com during the 3rd quarter worth $45,000. Finally, Values First Advisors Inc. purchased a new position in shares of Amazon.com during the third quarter valued at $56,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AMZN shares. Wells Fargo & Company upped their price objective on shares of Amazon.com from $197.00 to $212.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Monness Crespi & Hardt increased their price objective on shares of Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Scotiabank lifted their price objective on shares of Amazon.com from $245.00 to $246.00 and gave the company a “sector outperform” rating in a report on Friday, November 1st. Telsey Advisory Group upped their target price on Amazon.com from $215.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $250.00 price target on shares of Amazon.com in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $245.65.

Insider Activity at Amazon.com

In other Amazon.com news, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com stock in a transaction on 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 transaction, the director now owns 88,203 shares of the company’s stock, valued at approximately $20,273,459.55. The trade was a 4.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction dated Tuesday, November 19th. The stock was 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 approximately $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,032,344 shares of company stock worth $1,253,456,822 in the last three months. Company insiders own 10.80% of the company’s stock.

Amazon.com Price Performance

Shares of AMZN opened at $225.94 on Friday. The company has a market capitalization of $2.38 trillion, a P/E ratio of 48.38, a P/E/G ratio of 1.22 and a beta of 1.14. The business’s 50-day moving average is $217.56 and its two-hundred day moving average is $196.10. 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, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $233.00.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The company had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same period last year, the business earned $0.85 earnings per share. Amazon.com’s quarterly revenue was up 11.0% on a year-over-year basis. Research analysts predict that Amazon.com, Inc. will post 5.38 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.