Genesis Private Wealth LLC Purchases New Shares in Amazon.com, Inc. (NASDAQ:AMZN)

Genesis Private Wealth LLC acquired a new position in Amazon.com, Inc. (NASDAQ:AMZN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,936 shares of the e-commerce giant’s stock, valued at approximately $1,960,000. Amazon.com makes up about 1.1% of Genesis Private Wealth LLC’s investment portfolio, making the stock its 29th largest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMZN. State Street Corp raised its position in Amazon.com by 3.3% in the third quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock worth $66,926,008,000 after acquiring an additional 11,370,309 shares during the period. Geode Capital Management LLC increased its stake in shares of Amazon.com by 3.4% during the 3rd quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock worth $37,116,341,000 after purchasing an additional 6,545,944 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Amazon.com by 1.5% in the 2nd quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock worth $13,466,933,000 after purchasing an additional 1,042,177 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Amazon.com by 3.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,833,954 shares of the e-commerce giant’s stock valued at $10,776,201,000 after purchasing an additional 1,984,592 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Amazon.com by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 57,308,094 shares of the e-commerce giant’s stock valued at $10,678,217,000 after purchasing an additional 1,980,663 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on AMZN shares. Canaccord Genuity Group boosted their target price on Amazon.com from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Friday. The Goldman Sachs Group upped their price objective on shares of Amazon.com from $240.00 to $255.00 and gave the company a “buy” rating in a report on Friday. Barclays lifted their target price on shares of Amazon.com from $235.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday. Benchmark upped their price target on shares of Amazon.com from $215.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Sanford C. Bernstein lifted their price objective on shares of Amazon.com from $235.00 to $265.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and a consensus price target of $260.20.

Amazon.com Trading Down 4.1 %

Shares of AMZN opened at $229.15 on Friday. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The firm has a market cap of $2.41 trillion, a price-to-earnings ratio of 49.07, a PEG ratio of 1.35 and a beta of 1.15. The firm has a 50 day moving average price of $226.51 and a 200-day moving average price of $200.30. 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 (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.34. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. As a group, equities research analysts forecast that Amazon.com, Inc. will post 5.3 earnings per share for the current year.

Insider Activity

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,996,362 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $206.75, for a total value of $619,497,843.50. Following the transaction, the insider now owns 914,420,614 shares in the company, valued at approximately $189,056,461,944.50. The trade was a 0.33 % 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, Director Jonathan Rubinstein sold 4,351 shares of the stock in a transaction dated Monday, December 9th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,026,212 shares of company stock valued at $625,666,424. Insiders own 10.80% of the company’s stock.

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.