Merkkuri Wealth Advisors LLC Decreases Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Merkkuri Wealth Advisors LLC cut its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,343 shares of the e-commerce giant’s stock after selling 46 shares during the quarter. Amazon.com makes up 1.3% of Merkkuri Wealth Advisors LLC’s investment portfolio, making the stock its 27th largest holding. Merkkuri Wealth Advisors LLC’s holdings in Amazon.com were worth $1,611,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in AMZN. Hoese & Co LLP bought a new position in shares of Amazon.com during 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. Values First Advisors Inc. bought a new position in shares of Amazon.com during the 3rd quarter worth $56,000. IFS Advisors LLC grew its stake in shares of Amazon.com by 1,625.0% during the 4th quarter. IFS Advisors LLC now owns 345 shares of the e-commerce giant’s stock worth $76,000 after acquiring an additional 325 shares during the period. Finally, West Financial Advisors LLC bought a new position in shares of Amazon.com during the 4th quarter worth $88,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Tigress Financial increased their price target on Amazon.com from $245.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Scotiabank increased their price target on Amazon.com from $246.00 to $306.00 and gave the stock a “sector outperform” rating in a research note on Friday, January 24th. Piper Sandler reiterated an “overweight” rating and set a $265.00 price target (up previously from $225.00) on shares of Amazon.com in a research note on Friday, February 7th. Canaccord Genuity Group raised their target price on Amazon.com from $265.00 to $280.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Truist Financial raised their target price on Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Two equities research 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $260.74.

Insiders Place Their Bets

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com 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 transaction, the director now directly owns 24,912 shares of the company’s stock, valued at $4,958,982.72. The trade was a 4.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com stock in a transaction that occurred 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 in the company, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,348 shares of company stock valued at $5,036,214 in the last ninety days. Company insiders own 10.80% of the company’s stock.

Amazon.com Stock Performance

Shares of NASDAQ AMZN opened at $230.37 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The stock’s 50-day moving average is $227.98 and its 200 day moving average is $201.78. The stock has a market cap of $2.42 trillion, a price-to-earnings ratio of 41.66, a P/E/G ratio of 1.36 and a beta of 1.15. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a return on equity of 25.49% and a net margin of 9.29%. On average, sell-side analysts anticipate that Amazon.com, Inc. will post 6.24 EPS for the current fiscal 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.