Innova Wealth Partners Acquires 1,975 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Innova Wealth Partners increased its holdings in Amazon.com, Inc. (NASDAQ:AMZNGet Rating) by 1,580.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,100 shares of the e-commerce giant’s stock after purchasing an additional 1,975 shares during the quarter. Innova Wealth Partners’ holdings in Amazon.com were worth $223,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of AMZN. Gibson Wealth Advisors LLC bought a new position in shares of Amazon.com during the 4th quarter worth about $33,000. MBM Wealth Consultants LLC raised its holdings in shares of Amazon.com by 57.1% in the 4th quarter. MBM Wealth Consultants LLC now owns 11 shares of the e-commerce giant’s stock worth $37,000 after acquiring an additional 4 shares during the last quarter. William Allan LLC acquired a new stake in shares of Amazon.com in the 4th quarter worth about $47,000. Cardinal Capital Management Inc. acquired a new stake in shares of Amazon.com in the 1st quarter worth about $49,000. Finally, Security Financial Services INC. acquired a new stake in shares of Amazon.com in the 4th quarter worth about $57,000. Institutional investors own 57.15% of the company’s stock.

Insider Activity

In related news, CEO Andrew R. Jassy sold 23,620 shares of Amazon.com stock in a transaction on Monday, August 15th. The shares were sold at an average price of $142.29, for a total value of $3,360,889.80. Following the transaction, the chief executive officer now owns 1,892,000 shares in the company, valued at approximately $269,212,680. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Andrew R. Jassy sold 23,620 shares of Amazon.com stock in a transaction on Monday, August 15th. The shares were sold at an average price of $142.29, for a total value of $3,360,889.80. Following the transaction, the chief executive officer now owns 1,892,000 shares in the company, valued at approximately $269,212,680. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Adam Selipsky sold 520 shares of Amazon.com stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $127.43, for a total transaction of $66,263.60. Following the completion of the transaction, the chief executive officer now owns 115,680 shares in the company, valued at approximately $14,741,102.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 70,628 shares of company stock worth $9,802,599. 12.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AMZN shares. Piper Sandler upped their target price on shares of Amazon.com from $170.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, July 29th. MKM Partners decreased their price objective on shares of Amazon.com from $180.00 to $165.00 in a research note on Monday, July 25th. Robert W. Baird reiterated an “outperform” rating and issued a $150.00 price objective on shares of Amazon.com in a research note on Wednesday, September 7th. Citigroup increased their price objective on shares of Amazon.com to $185.00 in a research note on Tuesday, August 9th. Finally, Tigress Financial reiterated a “buy” rating and issued a $232.00 price objective on shares of Amazon.com in a research note on Wednesday, June 29th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and thirty-six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $176.61.

Amazon.com Stock Performance

Amazon.com stock opened at $117.31 on Friday. The firm’s fifty day moving average price is $130.33 and its 200-day moving average price is $130.17. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.68 and a current ratio of 0.95. The stock has a market cap of $1.20 trillion, a P/E ratio of 105.16, a price-to-earnings-growth ratio of 5.45 and a beta of 1.33. Amazon.com, Inc. has a fifty-two week low of $101.26 and a fifty-two week high of $188.11.

Amazon.com (NASDAQ:AMZNGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The e-commerce giant reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.05). The company had revenue of $121.23 billion for the quarter, compared to analysts’ expectations of $119.16 billion. Amazon.com had a net margin of 2.39% and a return on equity of 15.79%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.76 EPS. On average, equities research analysts expect that Amazon.com, Inc. will post 0.99 earnings per share for the current fiscal year.

Amazon.com Company Profile

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Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It sells merchandise and content purchased for resale from third-party sellers through physical and online stores.

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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