Waterfront Wealth Inc. Raises Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Waterfront Wealth Inc. raised its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 4.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,534 shares of the e-commerce giant’s stock after acquiring an additional 731 shares during the period. Amazon.com makes up approximately 0.8% of Waterfront Wealth Inc.’s holdings, making the stock its 26th biggest holding. Waterfront Wealth Inc.’s holdings in Amazon.com were worth $3,408,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Rench Wealth Management Inc. raised its holdings in Amazon.com by 7.9% during the 3rd quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock valued at $9,392,000 after buying an additional 3,703 shares during the period. Foundations Investment Advisors LLC grew its position in Amazon.com by 9.7% in the 3rd quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock valued at $34,395,000 after acquiring an additional 16,392 shares during the last quarter. Blankinship & Foster LLC grew its position in Amazon.com by 216.4% in the 3rd quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant’s stock valued at $1,291,000 after acquiring an additional 4,740 shares during the last quarter. Umpqua Bank grew its position in Amazon.com by 0.4% in the 3rd quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock valued at $6,544,000 after acquiring an additional 137 shares during the last quarter. Finally, One Wealth Capital Management LLC bought a new position in Amazon.com in the 4th quarter valued at $4,270,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Douglas J. Herrington sold 27,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total value of $6,332,425.00. Following the completion of the sale, the chief executive officer now directly owns 497,067 shares of the company’s stock, valued at $114,459,618.09. This trade represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP David Zapolsky sold 19,212 shares of Amazon.com stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $217.50, for a total value of $4,178,610.00. Following the sale, the senior vice president now directly owns 49,950 shares of the company’s stock, valued at approximately $10,864,125. The trade was a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 102,298 shares of company stock valued at $22,871,828 in the last 90 days. 10.80% of the stock is owned by company insiders.

Amazon.com Trading Up 0.6 %

Amazon.com stock opened at $196.21 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $242.52. The company’s fifty day moving average price is $218.90 and its two-hundred day moving average price is $207.97. The company has a market capitalization of $2.08 trillion, a price-to-earnings ratio of 35.48, a PEG ratio of 1.50 and a beta of 1.19.

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AMZN shares. Jefferies Financial Group upped their price objective on Amazon.com from $235.00 to $275.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Amazon.com in a research report on Friday, February 7th. TD Cowen increased their price target on Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Raymond James increased their price target on Amazon.com from $260.00 to $275.00 in a research report on Monday, February 10th. Finally, Royal Bank of Canada increased their price target on Amazon.com from $255.00 to $265.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Two 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $260.65.

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.