Legacy Financial Advisors Inc. Boosts Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Legacy Financial Advisors Inc. lifted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 5.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,126 shares of the e-commerce giant’s stock after acquiring an additional 1,743 shares during the quarter. Amazon.com accounts for approximately 1.2% of Legacy Financial Advisors Inc.’s investment portfolio, making the stock its 17th biggest holding. Legacy Financial Advisors Inc.’s holdings in Amazon.com were worth $6,981,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Garrison Point Advisors LLC boosted its position in Amazon.com by 0.3% in the 1st quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock valued at $3,675,000 after buying an additional 55 shares during the period. Meridian Investment Counsel Inc. boosted its position in Amazon.com by 1.8% in the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock valued at $594,000 after buying an additional 55 shares during the period. Ridgecrest Wealth Partners LLC boosted its position in Amazon.com by 0.7% in the 1st quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock valued at $1,399,000 after buying an additional 56 shares during the period. Stordahl Capital Management Inc. boosted its position in Amazon.com by 2.1% in the 1st quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock valued at $498,000 after buying an additional 56 shares during the period. Finally, Lutz Financial Services LLC boosted its position in Amazon.com by 1.9% in the 1st quarter. Lutz Financial Services LLC now owns 3,053 shares of the e-commerce giant’s stock valued at $551,000 after buying an additional 57 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Stock Up 0.0 %

AMZN stock opened at $189.07 on Tuesday. Amazon.com, Inc. has a 52 week low of $118.35 and a 52 week high of $201.20. The company has a market cap of $1.97 trillion, a P/E ratio of 52.96, a P/E/G ratio of 1.38 and a beta of 1.14. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. The company’s 50-day moving average price is $182.43 and its 200 day moving average price is $183.50.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The company had revenue of $147.98 billion for the quarter, compared to the consensus estimate of $148.63 billion. On average, research analysts expect that Amazon.com, Inc. will post 4.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on AMZN shares. Piper Sandler decreased their price target on shares of Amazon.com from $220.00 to $215.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Bank of America decreased their price objective on shares of Amazon.com from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Itau BBA Securities cut shares of Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 price objective for the company. in a research report on Friday, August 2nd. Evercore ISI reaffirmed an “outperform” rating and set a $240.00 price objective on shares of Amazon.com in a research report on Friday, October 11th. Finally, Jefferies Financial Group cut their price target on shares of Amazon.com from $235.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Two analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $236.78.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the sale, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the sale, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian T. Olsavsky sold 14,600 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the completion of the sale, the chief financial officer now directly owns 49,000 shares in the company, valued at $8,820,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,355 shares of company stock valued at $9,877,423 over the last quarter. Corporate 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.