Elite Wealth Management Inc. Sells 6,446 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Elite Wealth Management Inc. lowered its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,246 shares of the e-commerce giant’s stock after selling 6,446 shares during the quarter. Amazon.com comprises approximately 6.0% of Elite Wealth Management Inc.’s investment portfolio, making the stock its 3rd biggest position. Elite Wealth Management Inc.’s holdings in Amazon.com were worth $48,320,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Quattro Financial Advisors LLC raised its position in shares of Amazon.com by 23.8% in the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock worth $51,000 after acquiring an additional 45 shares in the last quarter. White Wing Wealth Management raised its position in shares of Amazon.com by 2.4% in the 4th quarter. White Wing Wealth Management now owns 1,972 shares of the e-commerce giant’s stock worth $433,000 after acquiring an additional 47 shares in the last quarter. MBM Wealth Consultants LLC raised its position in shares of Amazon.com by 0.6% in the 4th quarter. MBM Wealth Consultants LLC now owns 8,578 shares of the e-commerce giant’s stock worth $1,889,000 after acquiring an additional 48 shares in the last quarter. Semus Wealth Partners LLC raised its position in shares of Amazon.com by 0.3% in the 3rd quarter. Semus Wealth Partners LLC now owns 17,920 shares of the e-commerce giant’s stock worth $3,339,000 after acquiring an additional 49 shares in the last quarter. Finally, GGM Financials LLC raised its position in shares of Amazon.com by 2.1% in the 4th quarter. GGM Financials LLC now owns 2,463 shares of the e-commerce giant’s stock worth $540,000 after acquiring an additional 50 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Royal Bank of Canada lifted their price objective on Amazon.com from $255.00 to $265.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Canaccord Genuity Group restated a “buy” rating on shares of Amazon.com in a research note on Thursday, February 13th. Wolfe Research raised their target price on Amazon.com from $250.00 to $270.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Sanford C. Bernstein raised their target price on Amazon.com from $235.00 to $265.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Finally, JMP Securities restated a “market outperform” rating and issued a $285.00 target price on shares of Amazon.com in a research note on Friday, February 7th. Two analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Amazon.com presently has a consensus rating of “Moderate Buy” and an average target price of $260.65.

Insider Buying and Selling at Amazon.com

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

Amazon.com Trading Up 0.6 %

NASDAQ:AMZN opened at $196.21 on Friday. 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 capitalization of $2.08 trillion, a PE ratio of 35.48, a price-to-earnings-growth ratio of 1.50 and a beta of 1.19. The firm’s 50 day moving average is $218.90 and its 200 day moving average is $208.19. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52.

Amazon.com (NASDAQ:AMZN) last posted 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 net margin of 9.29% and a return on equity of 24.25%. Sell-side analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

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.