Elevation Wealth Partners LLC Grows Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Elevation Wealth Partners LLC increased its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 11.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,074 shares of the e-commerce giant’s stock after buying an additional 721 shares during the quarter. Elevation Wealth Partners LLC’s holdings in Amazon.com were worth $1,552,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Wingate Wealth Advisors Inc. bought a new stake in Amazon.com in the fourth quarter worth about $596,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of Amazon.com during the fourth quarter valued at approximately $2,729,000. Ferguson Wellman Capital Management Inc. raised its holdings in shares of Amazon.com by 1.1% in the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 595,067 shares of the e-commerce giant’s stock worth $130,552,000 after buying an additional 6,193 shares during the period. Elevate Capital Advisors LLC bought a new stake in shares of Amazon.com during the 4th quarter worth approximately $4,681,000. Finally, GGM Financials LLC boosted its holdings in Amazon.com by 2.1% during the 4th quarter. GGM Financials LLC now owns 2,463 shares of the e-commerce giant’s stock valued at $540,000 after acquiring an additional 50 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AMZN. Robert W. Baird increased their target price on Amazon.com from $220.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. DA Davidson raised their price target on shares of Amazon.com from $235.00 to $280.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Wells Fargo & Company lowered their price objective on shares of Amazon.com from $207.00 to $203.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 25th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $275.00 target price on shares of Amazon.com in a research report on Friday, February 7th. Finally, HSBC lifted their price target on shares of Amazon.com from $225.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $260.65.

Amazon.com Trading Down 0.7 %

NASDAQ AMZN opened at $199.25 on Friday. Amazon.com, Inc. has a 12-month low of $151.61 and a 12-month high of $242.52. The company has a fifty day simple moving average of $224.11 and a two-hundred day simple moving average of $206.61. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. The stock has a market cap of $2.11 trillion, a P/E ratio of 36.03, a P/E/G ratio of 1.50 and a beta of 1.19.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. On average, analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Transactions at Amazon.com

In related news, CEO Douglas J. Herrington sold 27,500 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $230.27, for a total value of $6,332,425.00. Following the transaction, the chief executive officer now owns 497,067 shares in the company, valued at approximately $114,459,618.09. This represents a 5.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $220.65, for a total transaction of $4,585,989.60. Following the sale, the chief executive officer now owns 2,118,886 shares of the company’s stock, valued at approximately $467,532,195.90. The trade was a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 106,649 shares of company stock worth $23,871,905 over the last three months. 10.80% of the stock is currently owned by insiders.

Amazon.com 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.