Udine Wealth Management Inc. Takes $749,000 Position in Amazon.com, Inc. (NASDAQ:AMZN)

Udine Wealth Management Inc. acquired a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 6,628 shares of the e-commerce giant’s stock, valued at approximately $749,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in AMZN. State Street Corp grew its holdings in shares of Amazon.com by 1,869.1% during the 2nd quarter. State Street Corp now owns 326,727,487 shares of the e-commerce giant’s stock valued at $34,701,726,000 after purchasing an additional 310,134,486 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Amazon.com by 1,838.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock valued at $33,134,481,000 after purchasing an additional 295,880,050 shares during the last quarter. FMR LLC grew its holdings in shares of Amazon.com by 1,792.4% during the 2nd quarter. FMR LLC now owns 286,047,356 shares of the e-commerce giant’s stock valued at $30,381,089,000 after purchasing an additional 270,931,640 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Amazon.com by 1,867.0% during the 2nd quarter. Northern Trust Corp now owns 94,997,372 shares of the e-commerce giant’s stock valued at $10,089,669,000 after purchasing an additional 90,167,792 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Amazon.com by 1,944.4% during the 2nd quarter. Legal & General Group Plc now owns 59,977,393 shares of the e-commerce giant’s stock valued at $6,370,223,000 after purchasing an additional 57,043,701 shares during the last quarter. Hedge funds and other institutional investors own 57.64% of the company’s stock.

Analyst Ratings Changes

AMZN has been the topic of a number of recent analyst reports. Royal Bank of Canada cut their price target on shares of Amazon.com from $175.00 to $135.00 and set an “outperform” rating on the stock in a report on Friday, October 28th. New Street Research initiated coverage on shares of Amazon.com in a report on Wednesday, January 4th. They issued a “buy” rating and a $130.00 price target on the stock. Needham & Company LLC cut their price target on shares of Amazon.com from $175.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, October 28th. JMP Securities cut their price target on shares of Amazon.com from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Friday, October 28th. Finally, Cowen raised their price target on shares of Amazon.com from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Thursday, December 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.87.

Insider Activity at Amazon.com

In related news, CEO Adam Selipsky sold 345 shares of the business’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $102.00, for a total transaction of $35,190.00. Following the completion of the sale, the chief executive officer now directly owns 112,795 shares in the company, valued at $11,505,090. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Douglas J. Herrington sold 15,787 shares of the business’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 sale, the chief executive officer now directly owns 522,251 shares in the company, valued at $53,844,078.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam Selipsky sold 345 shares of the company’s stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $102.00, for a total transaction of $35,190.00. Following the completion of the transaction, the chief executive officer now owns 112,795 shares of the company’s stock, valued at $11,505,090. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,428 shares of company stock worth $5,077,578. 12.70% of the stock is owned by company insiders.

Amazon.com Stock Performance

Shares of AMZN stock opened at $97.25 on Monday. The company has a 50 day moving average price of $90.72 and a 200-day moving average price of $110.23. Amazon.com, Inc. has a 52 week low of $81.43 and a 52 week high of $170.83. The firm has a market capitalization of $992.11 billion, a PE ratio of 89.26, a P/E/G ratio of 3.06 and a beta of 1.22. The company has a quick ratio of 0.68, a current ratio of 0.94 and a debt-to-equity ratio of 0.43.

Amazon.com (NASDAQ:AMZN – Get Rating) last announced its earnings results on Thursday, October 27th. The e-commerce giant reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.02). The business had revenue of $127.10 billion for the quarter, compared to the consensus estimate of $127.47 billion. Amazon.com had a net margin of 2.25% and a return on equity of 14.44%. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.31 earnings per share. As a group, equities research analysts expect that Amazon.com, Inc. will post 0.68 earnings per share for the current year.

Amazon.com Profile

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Amazon.com, Inc is a multinational technology company, which engages in the provision of online retail shopping services. It operates through the following business segments: North America, International, and Amazon Web Services (AWS). The North America segment includes retail sales of consumer products and subscriptions through North American-focused websites such as www.amazon.com and www.amazon.ca.