Wealth Effects LLC Raises Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Wealth Effects LLC boosted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 61,165 shares of the e-commerce giant’s stock after buying an additional 450 shares during the quarter. Amazon.com makes up about 4.0% of Wealth Effects LLC’s holdings, making the stock its 4th biggest holding. Wealth Effects LLC’s holdings in Amazon.com were worth $11,397,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. PayPay Securities Corp grew its stake in shares of Amazon.com by 64.6% in the second 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 purchased a new stake in Amazon.com in the 3rd quarter worth approximately $37,000. Christopher J. Hasenberg Inc lifted its holdings 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 worth $58,000 after buying an additional 260 shares during the period. Koesten Hirschmann & Crabtree INC. bought a new stake in shares of Amazon.com in the 1st quarter worth approximately $69,000. Finally, Innealta Capital LLC purchased a new position in shares of Amazon.com during the second quarter valued at approximately $77,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Performance

Shares of AMZN opened at $198.70 on Friday. The firm has a market capitalization of $2.09 trillion, a P/E ratio of 42.55, a PEG ratio of 1.37 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. Amazon.com, Inc. has a one year low of $142.81 and a one year high of $215.90. The business has a fifty day moving average of $192.79 and a 200 day moving average of $186.26.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The business had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 EPS. As a group, sell-side analysts anticipate that Amazon.com, Inc. will post 5.27 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Douglas J. Herrington sold 5,502 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $205.81, for a total value of $1,132,366.62. Following the completion of the transaction, the chief executive officer now owns 518,911 shares of the company’s stock, valued at approximately $106,797,072.91. This represents a 1.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the transaction, the director now owns 24,912 shares in the company, valued at $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,011,423 shares of company stock worth $1,249,093,896. Company insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AMZN shares. Loop Capital raised their price target on Amazon.com from $225.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Oppenheimer raised their target price on shares of Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Itau BBA Securities cut shares of Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 price target on the stock. in a research report on Friday, August 2nd. JMP Securities raised their price objective on shares of Amazon.com from $265.00 to $285.00 and gave the stock a “market outperform” rating in a report on Friday, November 1st. Finally, Robert W. Baird upped their target price on Amazon.com from $213.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $235.77.

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.