Encompass More Asset Management Acquires 6,906 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Encompass More Asset Management boosted its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 133.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,078 shares of the e-commerce giant’s stock after purchasing an additional 6,906 shares during the quarter. Encompass More Asset Management’s holdings in Amazon.com were worth $2,250,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Icon Wealth Advisors LLC lifted its position in shares of Amazon.com by 20.5% during the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after acquiring an additional 25,581 shares during the period. PayPay Securities Corp increased its stake in Amazon.com by 64.6% in the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after purchasing an additional 64 shares in the last quarter. Hoese & Co LLP bought a new stake in Amazon.com in the third quarter valued at $37,000. Bull Oak Capital LLC acquired a new position in shares of Amazon.com during the third quarter valued at about $45,000. Finally, Values First Advisors Inc. bought a new position in shares of Amazon.com during the 3rd quarter worth about $56,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Stock Performance

NASDAQ AMZN opened at $222.13 on Friday. The firm has a market cap of $2.34 trillion, a P/E ratio of 47.57, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. 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’s 50 day moving average is $215.78 and its 200-day moving average is $195.11. Amazon.com, Inc. has a 12-month low of $148.21 and a 12-month high of $233.00.

Amazon.com (NASDAQ:AMZN) last issued its 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. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter in the previous year, the firm posted $0.85 EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. Sell-side analysts predict that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jonathan Rubinstein sold 4,351 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 88,203 shares of the company’s stock, valued at approximately $20,273,459.55. This represents a 4.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’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 directly owns 24,912 shares of the company’s stock, 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. In the last quarter, insiders have sold 6,032,344 shares of company stock valued at $1,253,456,822. Corporate insiders own 10.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on AMZN shares. Rosenblatt Securities boosted their target price on Amazon.com from $221.00 to $236.00 and gave the company a “buy” rating in a research report on Friday, November 1st. The Goldman Sachs Group boosted their price objective on Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 1st. Jefferies Financial Group increased their target price on Amazon.com from $235.00 to $275.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Redburn Atlantic boosted their price target on shares of Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Benchmark raised their price objective on shares of Amazon.com from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two investment 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 $243.67.

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.