Elite Wealth Management Inc. Has $42.24 Million Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Elite Wealth Management Inc. increased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 226,692 shares of the e-commerce giant’s stock after purchasing an additional 3,931 shares during the quarter. Amazon.com accounts for 5.8% of Elite Wealth Management Inc.’s holdings, making the stock its 4th biggest position. Elite Wealth Management Inc.’s holdings in Amazon.com were worth $42,240,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of AMZN. Alaska Wealth Advisors grew its holdings in shares of Amazon.com by 6.6% in the 2nd quarter. Alaska Wealth Advisors now owns 3,391 shares of the e-commerce giant’s stock valued at $655,000 after acquiring an additional 209 shares in the last quarter. BlueDrive Global Investors LLP grew its stake in shares of Amazon.com by 33.5% in the second quarter. BlueDrive Global Investors LLP now owns 65,182 shares of the e-commerce giant’s stock valued at $12,596,000 after buying an additional 16,362 shares in the last quarter. Centennial Wealth Advisory LLC increased its position in Amazon.com by 8.0% during the second quarter. Centennial Wealth Advisory LLC now owns 5,033 shares of the e-commerce giant’s stock worth $973,000 after buying an additional 374 shares during the last quarter. Geneva Partners LLC lifted its position in shares of Amazon.com by 26.4% in the second quarter. Geneva Partners LLC now owns 59,419 shares of the e-commerce giant’s stock valued at $11,483,000 after buying an additional 12,424 shares during the last quarter. Finally, Aaron Wealth Advisors LLC raised its stake in Amazon.com by 5.3% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 36,875 shares of the e-commerce giant’s stock valued at $7,126,000 after acquiring an additional 1,846 shares during the period. Institutional investors own 72.20% of the company’s stock.

Insider Activity at Amazon.com

In related news, CEO Douglas J. Herrington sold 5,502 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $205.81, for a total transaction of $1,132,366.62. Following the completion of the transaction, the chief executive officer now owns 518,911 shares in the company, valued at approximately $106,797,072.91. This represents a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 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. The trade was a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,032,344 shares of company stock valued at $1,253,456,822 over the last 90 days. Insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

AMZN has been the topic of several research analyst reports. Rosenblatt Securities increased their price target on shares of Amazon.com from $221.00 to $236.00 and gave the company a “buy” rating in a report on Friday, November 1st. Monness Crespi & Hardt boosted their price objective on shares of Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on Amazon.com from $225.00 to $232.00 and gave the company a “buy” rating in a report on Friday, November 1st. Loop Capital lifted their price target on Amazon.com from $225.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Pivotal Research initiated coverage on shares of Amazon.com in a report on Friday, October 11th. They set a “buy” rating and a $260.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $243.67.

Amazon.com Stock Down 2.4 %

Amazon.com stock opened at $222.11 on Wednesday. Amazon.com, Inc. has a 12-month low of $146.15 and a 12-month high of $233.00. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $2.34 trillion, a PE ratio of 47.56, a PEG ratio of 1.54 and a beta of 1.14. The firm’s fifty day moving average is $214.48 and its 200 day moving average is $194.73.

Amazon.com (NASDAQ:AMZN) last issued its earnings results 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 return on equity of 22.41% and a net margin of 8.04%. The company had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. During the same period in the prior year, the firm earned $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, sell-side analysts predict that Amazon.com, Inc. will post 5.29 EPS for the current fiscal 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.