Synergy Asset Management LLC Acquires 22,328 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Synergy Asset Management LLC lifted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 16.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,904 shares of the e-commerce giant’s stock after acquiring an additional 22,328 shares during the quarter. Amazon.com makes up 2.7% of Synergy Asset Management LLC’s holdings, making the stock its 7th biggest holding. Synergy Asset Management LLC’s holdings in Amazon.com were worth $34,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Enzi Wealth lifted its stake in shares of Amazon.com by 1.0% in the 4th quarter. Enzi Wealth now owns 7,782 shares of the e-commerce giant’s stock valued at $1,829,000 after purchasing an additional 79 shares during the period. Baron Wealth Management LLC boosted its stake in Amazon.com by 7.3% during the 4th quarter. Baron Wealth Management LLC now owns 10,731 shares of the e-commerce giant’s stock valued at $2,354,000 after purchasing an additional 728 shares during the last quarter. Baring Financial LLC bought a new stake in Amazon.com during the 4th quarter worth approximately $968,000. Highland Capital Management LLC raised its stake in shares of Amazon.com by 6.6% in the fourth quarter. Highland Capital Management LLC now owns 180,607 shares of the e-commerce giant’s stock worth $39,623,000 after purchasing an additional 11,105 shares during the last quarter. Finally, Gries Financial LLC lifted its holdings in shares of Amazon.com by 1.6% in the fourth quarter. Gries Financial LLC now owns 25,560 shares of the e-commerce giant’s stock valued at $5,608,000 after purchasing an additional 409 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

AMZN has been the topic of several analyst reports. Royal Bank of Canada boosted their price target on shares of Amazon.com from $255.00 to $265.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Needham & Company LLC reissued a “buy” rating and issued a $250.00 price objective on shares of Amazon.com in a report on Friday, February 7th. Monness Crespi & Hardt boosted their target price 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $270.00 price target on shares of Amazon.com in a report on Friday, February 7th. Finally, Loop Capital increased their price objective on Amazon.com from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $260.74.

Insider Activity

In related news, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com stock in a transaction on 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 transaction, the director now directly owns 88,203 shares in the company, valued at approximately $20,273,459.55. The trade was a 4.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $210.00, for a total value of $735,000.00. Following the transaction, the chief executive officer now owns 524,567 shares of the company’s stock, valued at approximately $110,159,070. This trade represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,852 shares of company stock valued at $9,324,151 in the last 90 days. 10.80% of the stock is currently owned by insiders.

Amazon.com Trading Down 1.7 %

Shares of AMZN opened at $222.88 on Friday. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52. The firm’s 50-day moving average price is $228.10 and its 200-day moving average price is $203.58. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $2.36 trillion, a price-to-earnings ratio of 40.30, a PEG ratio of 1.57 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (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 24.25%. Sell-side analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current 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.