Mach 1 Financial Group LLC Increases Position in Amazon.com, Inc. (NASDAQ:AMZN)

Mach 1 Financial Group LLC grew its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 5.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,256 shares of the e-commerce giant’s stock after purchasing an additional 763 shares during the period. Amazon.com makes up about 1.6% of Mach 1 Financial Group LLC’s holdings, making the stock its 19th largest holding. Mach 1 Financial Group LLC’s holdings in Amazon.com were worth $2,656,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of AMZN. International Assets Investment Management LLC boosted its holdings in Amazon.com by 20,897.2% during the 3rd quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after acquiring an additional 38,949,065 shares during the period. Strategic Financial Concepts LLC increased its stake in Amazon.com by 13,606.7% during the second quarter. Strategic Financial Concepts LLC now owns 3,932,580 shares of the e-commerce giant’s stock worth $759,971,000 after purchasing an additional 3,903,889 shares during the period. Wulff Hansen & CO. lifted its position in shares of Amazon.com by 20,517.4% during the second quarter. Wulff Hansen & CO. now owns 3,884,325 shares of the e-commerce giant’s stock worth $750,646,000 after purchasing an additional 3,865,485 shares in the last quarter. National Pension Service boosted its stake in shares of Amazon.com by 15.9% in the third quarter. National Pension Service now owns 16,920,526 shares of the e-commerce giant’s stock valued at $3,152,802,000 after purchasing an additional 2,321,786 shares during the period. Finally, Granite Bay Wealth Management LLC grew its holdings in shares of Amazon.com by 6,590.8% in the second quarter. Granite Bay Wealth Management LLC now owns 2,353,894 shares of the e-commerce giant’s stock valued at $432,394,000 after purchasing an additional 2,318,713 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Price Performance

Shares of AMZN opened at $223.29 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. Amazon.com, Inc. has a fifty-two week low of $144.05 and a fifty-two week high of $233.00. The firm has a 50-day simple moving average of $205.11 and a 200-day simple moving average of $190.98. The company has a market capitalization of $2.35 trillion, a price-to-earnings ratio of 47.81, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share 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 return on equity of 22.41% and a net margin of 8.04%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the firm earned $0.85 EPS. On average, equities research analysts anticipate that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Insider Buying and Selling

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the transaction, the director now owns 24,912 shares in the company, valued at approximately $4,958,982.72. This represents a 4.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP David Zapolsky sold 2,190 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the sale, the senior vice president now owns 62,420 shares of the company’s stock, valued at $12,171,900. This trade represents a 3.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,034,534 shares of company stock valued at $1,253,883,872 over the last three months. 10.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AMZN has been the topic of a number of research reports. 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. Stifel Nicolaus increased their price objective on Amazon.com from $224.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Telsey Advisory Group lifted their target price on Amazon.com from $215.00 to $235.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Bank of America upped their price target on Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Maxim Group lifted their price objective on Amazon.com from $251.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $242.00.

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.