Sandy Cove Advisors LLC Grows Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Sandy Cove Advisors LLC grew its position in Amazon.com, Inc. (NASDAQ:AMZN) by 5.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,294 shares of the e-commerce giant’s stock after acquiring an additional 707 shares during the quarter. Amazon.com comprises 1.2% of Sandy Cove Advisors LLC’s holdings, making the stock its 18th largest position. Sandy Cove Advisors LLC’s holdings in Amazon.com were worth $3,136,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rench Wealth Management Inc. lifted its position in Amazon.com by 7.9% during the third quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock worth $9,392,000 after buying an additional 3,703 shares in the last quarter. Foundations Investment Advisors LLC increased its stake in 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 increased its stake in 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 shares of Amazon.com by 0.4% in the third quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock valued at $6,544,000 after buying an additional 137 shares in the last quarter. Finally, One Wealth Capital Management LLC acquired a new stake in shares of Amazon.com in the fourth quarter valued at $4,270,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Activity at Amazon.com

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction 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 transaction, the director now owns 24,912 shares in the company, valued at approximately $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $208.85, for a total value of $625,790,203.70. Following the completion of the transaction, the insider now directly owns 917,416,976 shares in the company, valued at $191,602,535,437.60. This trade represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,027,340 shares of company stock worth $1,252,456,773. 10.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AMZN shares. The Goldman Sachs Group lifted their price objective on Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Raymond James lifted their price target on Amazon.com from $230.00 to $260.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 21st. HSBC lifted their price target on Amazon.com from $225.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Telsey Advisory Group reissued an “outperform” rating and issued a $275.00 target price on shares of Amazon.com in a report on Friday. Finally, Piper Sandler boosted their target price on Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $251.44.

Amazon.com Price Performance

AMZN stock opened at $237.68 on Monday. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $241.77. The stock’s fifty day simple moving average is $223.83 and its 200-day simple moving average is $198.91. 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 $2.50 trillion, a price-to-earnings ratio of 50.90, a price-to-earnings-growth ratio of 1.35 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping 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 business had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter last year, the firm earned $0.85 earnings per share. The business’s revenue was up 11.0% on a year-over-year basis. Equities research analysts expect that Amazon.com, Inc. will post 5.3 EPS 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.