Assetmark Inc. Acquires 101,666 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Assetmark Inc. raised its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 7.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,484,324 shares of the e-commerce giant’s stock after buying an additional 101,666 shares during the period. Amazon.com comprises about 0.8% of Assetmark Inc.’s portfolio, making the stock its 28th biggest position. Assetmark Inc.’s holdings in Amazon.com were worth $276,574,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in AMZN. Meridian Investment Counsel Inc. increased its holdings in Amazon.com by 1.8% during the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock worth $594,000 after acquiring an additional 55 shares during the period. O Connor Financial Group LLC raised its position in shares of Amazon.com by 2.2% in the third quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock worth $473,000 after buying an additional 55 shares in the last quarter. Cherrydale Wealth Management LLC boosted its stake in Amazon.com by 0.7% during the third quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock valued at $1,396,000 after buying an additional 55 shares during the period. Cedar Point Capital Partners LLC grew its position in Amazon.com by 4.4% during the third quarter. Cedar Point Capital Partners LLC now owns 1,324 shares of the e-commerce giant’s stock worth $247,000 after buying an additional 56 shares in the last quarter. Finally, Mason & Associates Inc increased its stake in Amazon.com by 0.4% in the 2nd quarter. Mason & Associates Inc now owns 13,427 shares of the e-commerce giant’s stock worth $2,595,000 after acquiring an additional 57 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

AMZN has been the subject of several recent analyst reports. Morgan Stanley boosted their price objective on Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Benchmark increased their price target on shares of Amazon.com from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, November 1st. TD Cowen lifted their price objective on shares of Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Bank of America increased their target price on Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Moffett Nathanson lifted their price target on Amazon.com from $235.00 to $248.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Two research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Amazon.com presently has an average rating of “Moderate Buy” and an average target price of $242.00.

Insiders Place Their Bets

In other news, CEO Douglas J. Herrington sold 5,502 shares of the 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 sale, the chief executive officer now directly owns 518,911 shares of the company’s stock, valued at $106,797,072.91. This represents a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com stock in a transaction on Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the transaction, the director now owns 88,203 shares in the company, valued at approximately $20,273,459.55. This trade represents a 4.70 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,034,534 shares of company stock worth $1,253,883,872. Company insiders own 10.80% of the company’s stock.

Amazon.com Stock Performance

Shares of AMZN opened at $220.52 on Thursday. The firm has a market capitalization of $2.32 trillion, a P/E ratio of 47.22, a PEG ratio of 1.54 and a beta of 1.16. 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 $144.05 and a one year high of $233.00. The business has a fifty day moving average of $204.37 and a 200 day moving average of $190.75.

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 5.29 EPS for the current year.

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.