NRI Wealth Management LC Makes New Investment in Amazon.com, Inc. (NASDAQ:AMZN)

NRI Wealth Management LC purchased a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 27,304 shares of the e-commerce giant’s stock, valued at approximately $5,990,000. Amazon.com comprises approximately 4.1% of NRI Wealth Management LC’s portfolio, making the stock its 7th biggest position.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. PayPay Securities Corp lifted its stake in Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares during the last quarter. Hoese & Co LLP bought a new position in Amazon.com during the third quarter valued at approximately $37,000. Bull Oak Capital LLC purchased a new position in shares of Amazon.com during the third quarter worth approximately $45,000. Values First Advisors Inc. bought a new stake in shares of Amazon.com in the 3rd quarter worth approximately $56,000. Finally, Innealta Capital LLC bought a new position in shares of Amazon.com during the 2nd quarter valued at $77,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

AMZN has been the subject of several recent research reports. UBS Group boosted their price target on shares of Amazon.com from $230.00 to $264.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Bank of America increased their target price on Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a report on Friday, November 1st. BMO Capital Markets reaffirmed an “outperform” rating and issued a $236.00 price target on shares of Amazon.com in a research note on Tuesday, December 3rd. Redburn Atlantic increased their price objective on Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Sanford C. Bernstein lifted their target price on shares of Amazon.com from $235.00 to $265.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $245.65.

Insider Buying and Selling

In other news, CEO Matthew S. Garman sold 15,260 shares of Amazon.com stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $200.19, for a total transaction of $3,054,899.40. Following the transaction, the chief executive officer now directly owns 349,261 shares of the company’s stock, valued at $69,918,559.59. The trade was a 4.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 completion of the sale, the insider now directly owns 917,416,976 shares of the company’s stock, valued at $191,602,535,437.60. This represents a 0.33 % decrease in their ownership of the stock. 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 Price Performance

NASDAQ AMZN opened at $225.94 on Friday. The stock has a market capitalization of $2.38 trillion, a price-to-earnings ratio of 48.38, a PEG ratio of 1.22 and a beta of 1.14. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $233.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The business’s fifty day moving average price is $217.91 and its 200-day moving average price is $196.30.

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

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.