Provident Wealth Management LLC Boosts Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Provident Wealth Management LLC raised its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 9.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,919 shares of the e-commerce giant’s stock after buying an additional 263 shares during the period. Provident Wealth Management LLC’s holdings in Amazon.com were worth $544,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of AMZN. Zhang Financial LLC increased its stake in Amazon.com by 12.9% in the third quarter. Zhang Financial LLC now owns 51,091 shares of the e-commerce giant’s stock worth $9,520,000 after purchasing an additional 5,828 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Amazon.com by 0.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,847,177 shares of the e-commerce giant’s stock worth $550,217,000 after buying an additional 14,766 shares during the period. GAMMA Investing LLC increased its stake in Amazon.com by 19.2% in the 3rd quarter. GAMMA Investing LLC now owns 119,205 shares of the e-commerce giant’s stock worth $22,211,000 after buying an additional 19,231 shares during the period. Stonekeep Investments LLC purchased a new stake in Amazon.com in the 2nd quarter valued at about $2,588,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in Amazon.com by 164.1% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,053,958 shares of the e-commerce giant’s stock valued at $203,677,000 after buying an additional 654,908 shares during the period. Institutional investors own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

AMZN has been the subject of several research analyst reports. Oppenheimer lifted their price target on shares of Amazon.com from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Needham & Company LLC increased their price target on Amazon.com from $210.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday. Royal Bank of Canada lifted their price objective on Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Piper Sandler increased their target price on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $230.00 price target on shares of Amazon.com in a report on Monday, October 7th. Two analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $235.45.

Insider Transactions at Amazon.com

In other news, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction dated 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 owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. The trade was a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $206.75, for a total transaction of $619,497,843.50. Following the completion of the transaction, the insider now directly owns 914,420,614 shares in the company, valued at $189,056,461,944.50. This represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,053,349 shares of company stock valued at $1,256,503,289 in the last ninety days. 10.80% of the stock is currently owned by corporate insiders.

Amazon.com Stock Down 4.2 %

Shares of AMZN stock opened at $202.61 on Friday. Amazon.com, Inc. has a twelve month low of $139.52 and a twelve month high of $215.90. The stock has a market cap of $2.13 trillion, a P/E ratio of 43.39, a P/E/G ratio of 1.44 and a beta of 1.14. The stock has a 50 day moving average of $190.54 and a 200 day moving average of $185.54. 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 posted its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. During the same period in the previous year, the firm earned $0.85 EPS. The business’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, sell-side analysts expect that Amazon.com, Inc. will post 5.27 EPS 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.