MainStreet Investment Advisors LLC Acquires 93,122 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

MainStreet Investment Advisors LLC lifted its holdings in Amazon.com, Inc. (NASDAQ:AMZNGet Rating) by 1,783.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 98,344 shares of the e-commerce giant’s stock after acquiring an additional 93,122 shares during the period. Amazon.com makes up approximately 1.2% of MainStreet Investment Advisors LLC’s portfolio, making the stock its 23rd biggest position. MainStreet Investment Advisors LLC’s holdings in Amazon.com were worth $10,446,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. AE Wealth Management LLC increased its position in Amazon.com by 2,447.4% in the 2nd quarter. AE Wealth Management LLC now owns 970,809 shares of the e-commerce giant’s stock valued at $103,110,000 after buying an additional 932,699 shares in the last quarter. LGT Fund Management Co Ltd. increased its position in Amazon.com by 2,516.2% in the 2nd quarter. LGT Fund Management Co Ltd. now owns 169,583 shares of the e-commerce giant’s stock valued at $18,011,000 after buying an additional 163,101 shares in the last quarter. Newman Dignan & Sheerar Inc. increased its position in Amazon.com by 1,923.3% in the 2nd quarter. Newman Dignan & Sheerar Inc. now owns 21,710 shares of the e-commerce giant’s stock valued at $2,306,000 after buying an additional 20,637 shares in the last quarter. Assetmark Inc. increased its position in Amazon.com by 2,686.0% in the 2nd quarter. Assetmark Inc. now owns 182,092 shares of the e-commerce giant’s stock valued at $19,340,000 after buying an additional 175,556 shares in the last quarter. Finally, Empire Life Investments Inc. increased its position in Amazon.com by 2,353.0% in the 2nd quarter. Empire Life Investments Inc. now owns 261,049 shares of the e-commerce giant’s stock valued at $27,726,000 after buying an additional 250,407 shares in the last quarter. 57.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AMZN shares. Citigroup cut their target price on Amazon.com from $185.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, October 28th. Truist Financial cut their target price on Amazon.com from $170.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, October 28th. Atlantic Securities dropped their price objective on Amazon.com from $160.00 to $120.00 and set an “overweight” rating on the stock in a research note on Friday, October 28th. Erste Group Bank downgraded Amazon.com from a “buy” rating to a “hold” rating in a research note on Friday. Finally, UBS Group upped their price objective on Amazon.com from $167.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and forty-two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $150.89.

Amazon.com Price Performance

AMZN stock opened at $92.46 on Tuesday. Amazon.com, Inc. has a 1 year low of $85.87 and a 1 year high of $185.67. The company has a market cap of $943.24 billion, a P/E ratio of 84.86, a PEG ratio of 6.29 and a beta of 1.23. The firm has a 50-day moving average of $109.80 and a 200 day moving average of $116.91. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.68.

Amazon.com (NASDAQ:AMZNGet Rating) last released its quarterly earnings results on Thursday, October 27th. The e-commerce giant reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.06. Amazon.com had a net margin of 2.25% and a return on equity of 14.44%. The company had revenue of $127.10 billion during the quarter, compared to the consensus estimate of $127.47 billion. During the same period in the prior year, the firm earned $0.31 earnings per share. Amazon.com’s revenue was up 14.7% on a year-over-year basis. On average, sell-side analysts forecast that Amazon.com, Inc. will post 0.74 EPS for the current year.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, major shareholder Amazon Com Inc sold 250,000 shares of the firm’s stock in a transaction that occurred on Friday, October 7th. The shares were sold at an average price of $23.61, for a total transaction of $5,902,500.00. Following the completion of the transaction, the insider now owns 14,178,445 shares of the company’s stock, valued at $334,753,086.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Amazon.com news, CEO Douglas J. Herrington sold 15,787 shares of the firm’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $103.10, for a total transaction of $1,627,639.70. Following the completion of the transaction, the chief executive officer now owns 522,251 shares of the company’s stock, valued at $53,844,078.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Amazon Com Inc sold 250,000 shares of the firm’s stock in a transaction that occurred on Friday, October 7th. The shares were sold at an average price of $23.61, for a total transaction of $5,902,500.00. Following the transaction, the insider now directly owns 14,178,445 shares of the company’s stock, valued at approximately $334,753,086.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 269,412 shares of company stock valued at $7,914,139. Corporate insiders own 12.70% of the company’s stock.

About Amazon.com

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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.

See Also

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

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