Drive Wealth Management LLC Raises Position in Amazon.com, Inc. (NASDAQ:AMZN)

Drive Wealth Management LLC grew its position in Amazon.com, Inc. (NASDAQ:AMZN) by 3.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 30,855 shares of the e-commerce giant’s stock after buying an additional 1,167 shares during the period. Amazon.com makes up about 1.7% of Drive Wealth Management LLC’s investment portfolio, making the stock its 15th largest holding. Drive Wealth Management LLC’s holdings in Amazon.com were worth $6,769,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Legacy Financial Group LLC raised its holdings in Amazon.com by 2.5% in the fourth quarter. Legacy Financial Group LLC now owns 15,757 shares of the e-commerce giant’s stock worth $3,457,000 after buying an additional 379 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. raised its holdings in Amazon.com by 22.9% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 1,423 shares of the e-commerce giant’s stock worth $312,000 after buying an additional 265 shares during the last quarter. Peak Financial Management Inc. raised its holdings in Amazon.com by 15.7% in the fourth quarter. Peak Financial Management Inc. now owns 5,681 shares of the e-commerce giant’s stock worth $1,246,000 after buying an additional 772 shares during the last quarter. TI Trust Inc. raised its holdings in shares of Amazon.com by 4.2% during the fourth quarter. TI Trust Inc. now owns 1,813 shares of the e-commerce giant’s stock valued at $398,000 after purchasing an additional 73 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of Amazon.com by 3.3% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 181,727 shares of the e-commerce giant’s stock valued at $39,869,000 after purchasing an additional 5,854 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Matthew S. Garman sold 15,260 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $200.19, for a total transaction of $3,054,899.40. Following the completion of the transaction, the chief executive officer now owns 349,261 shares in the company, valued at $69,918,559.59. This trade represents a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the 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 transaction, the director now owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This trade represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,848 shares of company stock worth $11,368,639 over the last 90 days. 10.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AMZN shares. Raymond James boosted their price objective on shares of Amazon.com from $260.00 to $275.00 in a report on Monday, February 10th. TD Cowen boosted their price objective on shares of Amazon.com from $240.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Maxim Group boosted their price objective on shares of Amazon.com from $260.00 to $280.00 and gave the company a “buy” rating in a report on Friday, February 7th. Wedbush reissued an “outperform” rating and set a $280.00 price objective on shares of Amazon.com in a report on Friday, February 7th. Finally, HSBC boosted their price objective on shares of Amazon.com from $225.00 to $270.00 and gave the company a “buy” rating in a report on Monday, January 13th. Two research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $260.74.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $228.68 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. The firm has a fifty day moving average price of $228.18 and a 200 day moving average price of $201.98. 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 $2.40 trillion, a price-to-earnings ratio of 41.35, a P/E/G ratio of 1.36 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, beating the consensus estimate of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 25.49%. As a group, sell-side analysts expect that Amazon.com, Inc. will post 6.24 earnings per share for the current fiscal year.

Amazon.com Company 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.