David Wealth Management LLC Acquires Shares of 2,938 Amazon.com, Inc. (NASDAQ:AMZN)

David Wealth Management LLC purchased a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,938 shares of the e-commerce giant’s stock, valued at approximately $644,000. Amazon.com accounts for 0.5% of David Wealth Management LLC’s investment portfolio, making the stock its 21st largest holding.

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its holdings in shares of Amazon.com by 20,897.2% in the third quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after purchasing an additional 38,949,065 shares in the last quarter. Parnassus Investments LLC grew its stake in Amazon.com by 82,457.3% during the third quarter. Parnassus Investments LLC now owns 11,405,294 shares of the e-commerce giant’s stock worth $2,125,148,000 after buying an additional 11,391,479 shares during the period. State Street Corp grew 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 valued at $66,926,008,000 after acquiring an additional 11,370,309 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Amazon.com by 3.4% in 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. Finally, Strategic Financial Concepts LLC boosted its holdings in Amazon.com by 23,742.9% in the fourth quarter. Strategic Financial Concepts LLC now owns 5,102,618 shares of the e-commerce giant’s stock worth $1,119,463,000 after purchasing an additional 5,081,217 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Price Performance

AMZN stock opened at $194.54 on Tuesday. 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 12 month low of $151.61 and a 12 month high of $242.52. The stock has a market cap of $2.06 trillion, a PE ratio of 35.18, a P/E/G ratio of 1.50 and a beta of 1.19. The company has a 50-day moving average price of $223.57 and a 200 day moving average price of $207.12.

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

Insiders Place Their Bets

In related news, CEO Douglas J. Herrington sold 27,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total transaction of $6,332,425.00. Following the completion of the sale, the chief executive officer now directly owns 497,067 shares in the company, valued at approximately $114,459,618.09. The trade was a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP David Zapolsky sold 19,212 shares of Amazon.com stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $217.50, for a total value of $4,178,610.00. Following the transaction, the senior vice president now owns 49,950 shares in the company, valued at approximately $10,864,125. The trade was a 27.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 102,298 shares of company stock worth $22,871,828. Corporate insiders own 10.80% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on AMZN. Telsey Advisory Group restated an “outperform” rating and issued a $275.00 target price on shares of Amazon.com in a research report on Friday, February 7th. Piper Sandler reiterated an “overweight” rating and set a $265.00 price target (up from $225.00) on shares of Amazon.com in a report on Friday, February 7th. JMP Securities reissued a “market outperform” rating and set a $285.00 price objective on shares of Amazon.com in a report on Friday, February 7th. JPMorgan Chase & Co. raised their target price on Amazon.com from $250.00 to $280.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Finally, Raymond James lifted their target price on Amazon.com from $260.00 to $275.00 in a research report on Monday, February 10th. Two investment analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $260.65.

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.