Amazon.com, Inc. (NASDAQ:AMZN) Shares Bought by Innovis Asset Management LLC

Innovis Asset Management LLC grew its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,512 shares of the e-commerce giant’s stock after acquiring an additional 617 shares during the quarter. Innovis Asset Management LLC’s holdings in Amazon.com were worth $2,635,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fiduciary Planning LLC increased its stake in Amazon.com by 1.5% during the 1st quarter. Fiduciary Planning LLC now owns 349 shares of the e-commerce giant’s stock worth $1,138,000 after acquiring an additional 5 shares during the period. HBC Financial Services PLLC increased its stake in Amazon.com by 0.8% during the 1st quarter. HBC Financial Services PLLC now owns 616 shares of the e-commerce giant’s stock worth $1,717,000 after acquiring an additional 5 shares during the period. Meridian Investment Counsel Inc. increased its stake in Amazon.com by 3.4% during the 1st quarter. Meridian Investment Counsel Inc. now owns 151 shares of the e-commerce giant’s stock worth $492,000 after acquiring an additional 5 shares during the period. Alterna Wealth Management Inc. increased its stake in Amazon.com by 1.8% during the 1st quarter. Alterna Wealth Management Inc. now owns 289 shares of the e-commerce giant’s stock worth $942,000 after acquiring an additional 5 shares during the period. Finally, Archetype Wealth Partners increased its stake in Amazon.com by 3.7% during the 1st quarter. Archetype Wealth Partners now owns 169 shares of the e-commerce giant’s stock worth $552,000 after acquiring an additional 6 shares during the period. Institutional investors and hedge funds own 57.96% of the company’s stock.

Insider Activity

In other news, CEO Douglas J. Herrington sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $141.00, for a total value of $7,050,000.00. Following the completion of the transaction, the chief executive officer now directly owns 510,301 shares of the company’s stock, valued at $71,952,441. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Douglas J. Herrington sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $141.00, for a total value of $7,050,000.00. Following the transaction, the chief executive officer now owns 510,301 shares in the company, valued at $71,952,441. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $125.07, for a total value of $62,535.00. Following the completion of the transaction, the chief executive officer now owns 151,780 shares in the company, valued at approximately $18,983,124.60. The disclosure for this sale can be found here. Insiders sold a total of 1,361,829 shares of company stock valued at $48,444,937 over the last three months. Corporate insiders own 12.70% of the company’s stock.

Amazon.com Stock Performance

Shares of AMZN opened at $138.12 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.70 and a current ratio of 0.95. The stock has a 50 day moving average price of $133.12 and a two-hundred day moving average price of $116.55. The firm has a market capitalization of $1.43 trillion, a P/E ratio of 108.76, a P/E/G ratio of 1.83 and a beta of 1.24. Amazon.com, Inc. has a 52 week low of $81.43 and a 52 week high of $143.63.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, August 3rd. The e-commerce giant reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.29. The company had revenue of $134.38 billion during the quarter, compared to analyst estimates of $131.54 billion. Amazon.com had a return on equity of 9.14% and a net margin of 2.43%. Equities analysts forecast that Amazon.com, Inc. will post 2.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Bank of America raised their price objective on Amazon.com from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Loop Capital lifted their price target on Amazon.com from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, August 23rd. Needham & Company LLC lifted their price target on Amazon.com from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Piper Sandler lifted their price target on Amazon.com from $175.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, August 24th. Finally, Wells Fargo & Company lifted their price target on Amazon.com from $159.00 to $165.00 and gave the company an “overweight” rating in a research note on Friday, August 4th. Two equities research analysts have rated the stock with a hold rating and forty-eight have issued a buy rating to the stock. Based on data from MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.87.

Amazon.com Company Profile

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