Amazon.com, Inc. (NASDAQ:AMZN) is Jessup Wealth Management Inc’s Largest Position

Jessup Wealth Management Inc increased its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 5.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 151,911 shares of the e-commerce giant’s stock after purchasing an additional 7,172 shares during the period. Amazon.com makes up approximately 13.0% of Jessup Wealth Management Inc’s investment portfolio, making the stock its largest position. Jessup Wealth Management Inc’s holdings in Amazon.com were worth $28,305,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. PayPay Securities Corp boosted its position in Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after buying an additional 64 shares during the period. Hoese & Co LLP purchased a new position in Amazon.com in the 3rd quarter valued at approximately $37,000. Christopher J. Hasenberg Inc boosted its position in Amazon.com by 650.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after buying an additional 260 shares during the period. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of Amazon.com in the 1st quarter valued at $69,000. Finally, Innealta Capital LLC acquired a new stake in shares of Amazon.com in the 2nd quarter valued at $77,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Brian T. Olsavsky sold 14,600 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the completion of the transaction, the chief financial officer now owns 49,000 shares of the company’s stock, valued at $8,820,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Jonathan Rubinstein sold 5,004 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $199.85, for a total value of $1,000,049.40. Following the completion of the transaction, the director now owns 99,396 shares of the company’s stock, valued at $19,864,290.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Brian T. Olsavsky sold 14,600 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the transaction, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at $8,820,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,859 shares of company stock worth $10,215,097. Insiders own 10.80% of the company’s stock.

Amazon.com Stock Up 1.4 %

AMZN stock opened at $210.05 on Friday. The company has a market cap of $2.21 trillion, a P/E ratio of 44.98, a P/E/G ratio of 1.34 and a beta of 1.14. Amazon.com, Inc. has a 52 week low of $139.52 and a 52 week high of $212.25. The company’s 50-day moving average price is $186.48 and its 200 day moving average price is $184.23. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The company had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.85 earnings per share. On average, research analysts expect that Amazon.com, Inc. will post 5.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Monness Crespi & Hardt raised their price objective on shares of Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 1st. Evercore ISI raised their price objective on shares of Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Wells Fargo & Company lowered shares of Amazon.com from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $225.00 to $183.00 in a report on Monday, October 7th. JPMorgan Chase & Co. raised their price objective on shares of Amazon.com from $230.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Barclays raised their price objective on shares of Amazon.com from $220.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Two analysts have rated the stock with a hold rating, forty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $234.55.

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.