Princeton Capital Management LLC Increases Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Princeton Capital Management LLC raised its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 120,553 shares of the e-commerce giant’s stock after acquiring an additional 2,047 shares during the period. Amazon.com makes up approximately 7.1% of Princeton Capital Management LLC’s holdings, making the stock its 4th biggest position. Princeton Capital Management LLC’s holdings in Amazon.com were worth $22,463,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Equita Financial Network Inc. raised its holdings in Amazon.com by 47.0% in the 3rd quarter. Equita Financial Network Inc. now owns 2,762 shares of the e-commerce giant’s stock worth $515,000 after purchasing an additional 883 shares during the period. Fifth Third Wealth Advisors LLC lifted its position in Amazon.com by 14.2% during the third quarter. Fifth Third Wealth Advisors LLC now owns 192,252 shares of the e-commerce giant’s stock valued at $35,822,000 after purchasing an additional 23,943 shares during the last quarter. BIP Wealth LLC raised its position in Amazon.com by 9.6% during the third quarter. BIP Wealth LLC now owns 18,991 shares of the e-commerce giant’s stock valued at $3,537,000 after purchasing an additional 1,667 shares during the period. Prospera Financial Services Inc raised its stake in shares of Amazon.com by 17.8% in the third quarter. Prospera Financial Services Inc now owns 328,967 shares of the e-commerce giant’s stock valued at $61,295,000 after acquiring an additional 49,610 shares during the period. Finally, Meeder Asset Management Inc. boosted its stake in shares of Amazon.com by 4.5% during the third quarter. Meeder Asset Management Inc. now owns 378,190 shares of the e-commerce giant’s stock valued at $70,468,000 after purchasing an additional 16,308 shares during the period. 72.20% of the stock is owned by institutional investors.

Insider Activity

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the sale, the director now owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the business’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 sale, the insider now directly owns 917,416,976 shares in the company, valued at approximately $191,602,535,437.60. This represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,032,344 shares of company stock valued at $1,253,456,822. 10.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AMZN shares. UBS Group upped their price target on shares of Amazon.com from $230.00 to $264.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $230.00 price target on shares of Amazon.com in a research report on Monday, October 7th. Monness Crespi & Hardt increased their target price on shares of Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Piper Sandler lifted their target price on shares of Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, Jefferies Financial Group increased their target price on shares of Amazon.com from $235.00 to $275.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Two analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $243.00.

Amazon.com Trading Down 1.1 %

NASDAQ AMZN opened at $221.30 on Tuesday. Amazon.com, Inc. has a 52 week low of $144.05 and a 52 week high of $233.00. The firm has a 50 day moving average of $209.73 and a two-hundred day moving average of $192.89. The stock has a market capitalization of $2.33 trillion, a PE ratio of 47.39, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last released 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. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter last year, the company earned $0.85 earnings per share. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, research analysts expect that Amazon.com, Inc. will post 5.29 EPS for the current fiscal 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.