Archer Investment Management LLC Makes New Investment in Amazon.com, Inc. (NASDAQ:AMZN)

Archer Investment Management LLC acquired a new position in Amazon.com, Inc. (NASDAQ:AMZN) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,269 shares of the e-commerce giant’s stock, valued at approximately $278,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Accordant Advisory Group Inc grew its holdings in shares of Amazon.com by 400.0% in the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Icon Wealth Advisors LLC grew its holdings in shares of Amazon.com by 20.5% during the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after buying an additional 25,581 shares during the last quarter. Hoese & Co LLP bought a new stake in shares of Amazon.com in the 3rd quarter worth $37,000. Bull Oak Capital LLC bought a new stake in Amazon.com in the 3rd quarter worth about $45,000. Finally, Values First Advisors Inc. purchased a new position in shares of Amazon.com during the third quarter valued at approximately $56,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on AMZN. Robert W. Baird increased their price objective on shares of Amazon.com from $220.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Evercore ISI lifted their price objective on shares of Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Bank of America boosted their target price on Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Maxim Group boosted their target price on shares of Amazon.com from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, HSBC raised their target price on shares of Amazon.com from $225.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Two analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $260.65.

Insider Activity at Amazon.com

In other Amazon.com news, SVP David Zapolsky sold 19,212 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $217.50, for a total value of $4,178,610.00. Following the completion of the sale, the senior vice president now owns 49,950 shares in the company, valued at approximately $10,864,125. This trade represents a 27.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Shelley Reynolds sold 8,833 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $222.47, for a total transaction of $1,965,077.51. Following the transaction, the vice president now owns 119,780 shares in the company, valued at $26,647,456.60. The trade was a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,149 shares of company stock valued at $24,606,905 over the last ninety days. 10.80% of the stock is owned by insiders.

Amazon.com Stock Performance

NASDAQ AMZN opened at $214.35 on Thursday. The firm has a market cap of $2.27 trillion, a price-to-earnings ratio of 38.76, a PEG ratio of 1.50 and a beta of 1.15. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52. The company has a 50 day moving average of $226.99 and a 200-day moving average of $205.27.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. On average, equities analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share 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.