Legacy Wealth Management LLC MS Acquires 5,567 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Legacy Wealth Management LLC MS grew its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 75.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,922 shares of the e-commerce giant’s stock after acquiring an additional 5,567 shares during the period. Legacy Wealth Management LLC MS’s holdings in Amazon.com were worth $2,408,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in AMZN. Rench Wealth Management Inc. boosted its stake in Amazon.com by 7.9% in the 3rd quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock worth $9,392,000 after purchasing an additional 3,703 shares during the period. Foundations Investment Advisors LLC boosted 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 acquiring an additional 16,392 shares during the last quarter. Blankinship & Foster LLC boosted its position in shares of Amazon.com by 216.4% during the third quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant’s stock worth $1,291,000 after acquiring an additional 4,740 shares during the last quarter. Umpqua Bank grew its stake in Amazon.com by 0.4% during the third quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock valued at $6,544,000 after acquiring an additional 137 shares in the last quarter. Finally, Washington Trust Advisors Inc. increased its holdings in Amazon.com by 0.4% in the 3rd quarter. Washington Trust Advisors Inc. now owns 225,254 shares of the e-commerce giant’s stock valued at $41,972,000 after acquiring an additional 982 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jonathan Rubinstein sold 4,351 shares of the business’s stock in a transaction 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 directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $206.75, for a total value of $619,497,843.50. Following the sale, the insider now directly owns 914,420,614 shares in the company, valued at approximately $189,056,461,944.50. The trade was a 0.33 % 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 worth $1,253,456,822 over the last 90 days. Company insiders own 10.80% of the company’s stock.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $225.94 on Friday. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $233.00. The stock’s fifty day moving average price is $217.56 and its 200-day moving average price is $196.10. The firm has a market cap 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 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 quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. During the same quarter in the previous year, the business posted $0.85 EPS. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, equities research analysts expect that Amazon.com, Inc. will post 5.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on AMZN. Wolfe Research increased their price objective on shares of Amazon.com from $250.00 to $270.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Moffett Nathanson raised their price target on Amazon.com from $235.00 to $248.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Loop Capital lifted their price objective on Amazon.com from $225.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Monness Crespi & Hardt increased their target price on Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, TD Cowen boosted their price target 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 analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $245.65.

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.