Meridian Financial Partners LLC Takes $3.50 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Meridian Financial Partners LLC acquired a new stake in Amazon.com, Inc. (NASDAQ:AMZN) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 18,786 shares of the e-commerce giant’s stock, valued at approximately $3,500,000. Amazon.com accounts for about 1.8% of Meridian Financial Partners LLC’s holdings, making the stock its 10th biggest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. PayPay Securities Corp raised its holdings in Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares during the last quarter. Hoese & Co LLP acquired a new stake in shares of Amazon.com during the third quarter worth $37,000. Christopher J. Hasenberg Inc raised its stake in Amazon.com by 650.0% during the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after buying an additional 260 shares during the last quarter. Koesten Hirschmann & Crabtree INC. acquired a new position in Amazon.com in the first quarter valued at $69,000. Finally, Innealta Capital LLC bought a new stake in Amazon.com during the second quarter valued at $77,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Stock Performance

Shares of AMZN opened at $201.70 on Tuesday. Amazon.com, Inc. has a 12-month low of $141.50 and a 12-month high of $215.90. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The company has a market cap of $2.12 trillion, a PE ratio of 43.19, a price-to-earnings-growth ratio of 1.36 and a beta of 1.14. The stock has a 50-day moving average price of $191.69 and a 200-day moving average price of $185.93.

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, 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 business 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 business posted $0.85 earnings per share. Amazon.com’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, equities analysts forecast that Amazon.com, Inc. will post 5.27 earnings per share for the current fiscal year.

Insider Transactions at Amazon.com

In related news, insider Jeffrey P. Bezos sold 2,996,362 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the transaction, the insider now directly owns 917,416,976 shares of the company’s stock, valued at approximately $191,602,535,437.60. This trade represents a 0.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Shelley Reynolds sold 3,791 shares of Amazon.com stock in a transaction that occurred on Wednesday, August 21st. The stock was 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 in the company, valued at $21,989,299.44. This trade represents a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,053,349 shares of company stock valued at $1,256,503,289. Insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on AMZN shares. Jefferies Financial Group lifted their price objective on shares of Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Truist Financial raised their price objective on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Scotiabank lifted their price target on Amazon.com from $245.00 to $246.00 and gave the company a “sector outperform” rating in a research note on Friday, November 1st. Pivotal Research assumed coverage on Amazon.com in a report on Friday, October 11th. They issued a “buy” rating and a $260.00 target price on the stock. Finally, Stifel Nicolaus upped their price target on Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and an average price target of $235.45.

Amazon.com Company 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.