Worth Asset Management LLC Boosts Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Worth Asset Management LLC increased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,638 shares of the e-commerce giant’s stock after acquiring an additional 76 shares during the period. Worth Asset Management LLC’s holdings in Amazon.com were worth $798,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of AMZN. State Street Corp increased its stake in shares of Amazon.com by 3.3% during the third quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock worth $66,926,008,000 after purchasing an additional 11,370,309 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Amazon.com by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock worth $37,116,341,000 after buying an additional 6,545,944 shares during the last quarter. Legal & General Group Plc boosted its holdings in 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 worth $13,466,933,000 after buying an additional 1,042,177 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Amazon.com by 3.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,833,954 shares of the e-commerce giant’s stock worth $10,776,201,000 after buying an additional 1,984,592 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Amazon.com by 3.6% during 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 acquiring an additional 1,980,663 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Performance

Shares of AMZN stock opened at $225.94 on Tuesday. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $233.00. The firm has a 50 day moving average of $217.91 and a two-hundred day moving average of $196.27. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $2.38 trillion, a PE ratio of 48.38, a P/E/G ratio of 1.22 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping the consensus estimate 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 business earned $0.85 EPS. On average, research analysts predict that Amazon.com, Inc. will post 5.38 EPS for the current fiscal year.

Insider Activity

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the transaction, the director now directly owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This represents a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the firm’s 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 sale, the insider now directly 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. In the last three months, insiders have sold 6,032,344 shares of company stock worth $1,253,456,822. 10.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AMZN. Oppenheimer boosted their price target on Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Piper Sandler upped their target price on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Benchmark raised their price target on shares of Amazon.com from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Monness Crespi & Hardt boosted their price target on shares of Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Mizuho raised their target price on shares of Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Amazon.com presently has an average rating of “Moderate Buy” and an average 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.