Beam Wealth Advisors Inc. Raises Position in Amazon.com, Inc. (NASDAQ:AMZN)

Beam Wealth Advisors Inc. lifted its position in Amazon.com, Inc. (NASDAQ:AMZN) by 138.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,503 shares of the e-commerce giant’s stock after buying an additional 7,262 shares during the period. Beam Wealth Advisors Inc.’s holdings in Amazon.com were worth $2,416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Provident Investment Management Inc. boosted its holdings in shares of Amazon.com by 5,730.2% during the 2nd quarter. Provident Investment Management Inc. now owns 134,094 shares of the e-commerce giant’s stock valued at $25,914,000 after purchasing an additional 131,794 shares during the last quarter. Andra AP fonden raised its position in Amazon.com by 29.4% during the 2nd quarter. Andra AP fonden now owns 158,900 shares of the e-commerce giant’s stock valued at $30,707,000 after purchasing an additional 36,100 shares in the last quarter. Exane Asset Management bought a new position in Amazon.com during the 2nd quarter worth about $5,129,000. Sachetta LLC lifted its holdings in Amazon.com by 7.8% during the second quarter. Sachetta LLC now owns 8,393 shares of the e-commerce giant’s stock worth $1,525,000 after buying an additional 610 shares during the period. Finally, Bright Futures Wealth Management LLC. raised its holdings in Amazon.com by 0.4% in the second quarter. Bright Futures Wealth Management LLC. now owns 36,984 shares of the e-commerce giant’s stock worth $7,147,000 after purchasing an additional 144 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Benchmark reaffirmed a “buy” rating and set a $200.00 target price on shares of Amazon.com in a research report on Friday, August 2nd. TD Securities raised their price objective on shares of Amazon.com from $225.00 to $245.00 in a research note on Wednesday, July 10th. Itau BBA Securities lowered shares of Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 target price on the stock. in a research note on Friday, August 2nd. DA Davidson reaffirmed a “buy” rating and set a $235.00 target price on shares of Amazon.com in a research note on Thursday. Finally, Evercore ISI lifted their price target on shares of Amazon.com from $225.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a hold rating, forty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Amazon.com currently has an average rating of “Moderate Buy” and a consensus price target of $222.67.

Amazon.com Stock Up 0.8 %

Shares of NASDAQ:AMZN opened at $186.65 on Friday. The firm has a market cap of $1.94 trillion, a P/E ratio of 52.28, a P/E/G ratio of 1.46 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The company’s 50-day moving average price is $179.11 and its two-hundred day moving average price is $183.05. Amazon.com, Inc. has a 12 month low of $118.35 and a 12 month high of $201.20.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The firm had revenue of $147.98 billion for the quarter, compared to analyst estimates of $148.63 billion. As a group, research analysts forecast that Amazon.com, Inc. will post 4.86 EPS for the current fiscal year.

Insider Transactions at Amazon.com

In other news, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the transaction, the senior vice president now directly owns 62,420 shares in the company, valued at approximately $12,171,900. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Shelley Reynolds sold 3,791 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the transaction, the vice president now directly owns 121,461 shares of the company’s stock, valued at $21,989,299.44. This represents a 0.00 % 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, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the sale, the senior vice president now owns 62,420 shares of the company’s stock, valued at $12,171,900. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,355 shares of company stock worth $9,877,423 over the last quarter. Company insiders own 10.80% of the company’s stock.

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.