Amazon.com, Inc. (NASDAQ:AMZN) is Northeast Financial Consultants Inc’s 9th Largest Position

Northeast Financial Consultants Inc raised its position in Amazon.com, Inc. (NASDAQ:AMZN) by 11.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 295,808 shares of the e-commerce giant’s stock after purchasing an additional 30,081 shares during the period. Amazon.com accounts for 2.6% of Northeast Financial Consultants Inc’s investment portfolio, making the stock its 9th largest holding. Northeast Financial Consultants Inc’s holdings in Amazon.com were worth $57,165,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Nemes Rush Group LLC increased its holdings in shares of Amazon.com by 0.7% in the 2nd quarter. Nemes Rush Group LLC now owns 86,393 shares of the e-commerce giant’s stock valued at $16,695,000 after acquiring an additional 600 shares during the last quarter. Magnolia Capital Advisors LLC acquired a new position in Amazon.com in the second quarter valued at approximately $17,704,000. Copperwynd Financial LLC boosted its holdings in Amazon.com by 7.1% in the second quarter. Copperwynd Financial LLC now owns 11,802 shares of the e-commerce giant’s stock valued at $2,207,000 after purchasing an additional 783 shares in the last quarter. Doheny Asset Management CA increased its stake in Amazon.com by 11.1% in the second quarter. Doheny Asset Management CA now owns 14,981 shares of the e-commerce giant’s stock valued at $2,895,000 after purchasing an additional 1,491 shares during the last quarter. Finally, Buck Wealth Strategies LLC acquired a new stake in Amazon.com during the second quarter worth approximately $9,858,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AMZN. Jefferies Financial Group lowered their target price on shares of Amazon.com from $235.00 to $225.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Truist Financial upped their price objective on shares of Amazon.com from $230.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $230.00 target price on shares of Amazon.com in a research report on Monday, October 7th. BMO Capital Markets reissued an “outperform” rating and issued a $230.00 target price on shares of Amazon.com in a research report on Thursday, September 19th. Finally, Pivotal Research initiated coverage on Amazon.com in a research note on Friday, October 11th. They set a “buy” rating and a $260.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $236.78.

Amazon.com Price Performance

AMZN opened at $187.83 on Monday. Amazon.com, Inc. has a 1 year low of $118.35 and a 1 year high of $201.20. The company’s 50 day simple moving average is $183.50 and its 200 day simple moving average is $183.54. The stock has a market capitalization of $1.95 trillion, a PE ratio of 52.61, a P/E/G ratio of 1.38 and a beta of 1.14. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. The company had revenue of $147.98 billion for the quarter, compared to the consensus estimate of $148.63 billion. As a group, sell-side analysts expect that Amazon.com, Inc. will post 4.85 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $189.25, for a total transaction of $662,375.00. Following the transaction, the chief executive officer now directly owns 503,753 shares of the company’s stock, valued at approximately $95,335,255.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the sale, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. 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 ninety days. 10.80% of the stock is owned by company insiders.

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.