Synergy Asset Management LLC decreased its position in Amazon.com, Inc. (NASDAQ:AMZN) by 25.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 96,372 shares of the e-commerce giant’s stock after selling 32,496 shares during the quarter. Amazon.com makes up approximately 3.1% of Synergy Asset Management LLC’s portfolio, making the stock its 4th largest holding. Synergy Asset Management LLC’s holdings in Amazon.com were worth $12,563,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of the company. Laurel Wealth Planning LLC increased its stake in Amazon.com by 1,900.0% during the second quarter. Laurel Wealth Planning LLC now owns 320 shares of the e-commerce giant’s stock valued at $34,000 after acquiring an additional 304 shares during the period. Sanctuary Wealth Management L.L.C. acquired a new position in shares of Amazon.com in the fourth quarter valued at $37,000. Swaine & Leidel Wealth Services LLC bought a new position in Amazon.com in the first quarter worth $38,000. Atlantic Private Wealth LLC bought a new position in Amazon.com in the first quarter worth $43,000. Finally, Goodwin Investment Advisory lifted its position in Amazon.com by 1,225.8% in the second quarter. Goodwin Investment Advisory now owns 411 shares of the e-commerce giant’s stock worth $44,000 after purchasing an additional 380 shares during the period. Institutional investors own 57.96% of the company’s stock.
Analyst Ratings Changes
Several research analysts recently commented on the company. Canaccord Genuity Group raised their target price on Amazon.com from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. HSBC assumed coverage on Amazon.com in a research report on Thursday, November 2nd. They issued a “buy” rating and a $160.00 target price for the company. Barclays raised their target price on Amazon.com from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Friday, October 27th. Credit Suisse Group lifted their price objective on Amazon.com from $176.00 to $189.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Finally, Tigress Financial lifted their price objective on Amazon.com from $192.00 to $204.00 in a report on Thursday, July 13th. Two equities research analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $168.80.
Amazon.com Price Performance
Shares of AMZN opened at $140.60 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.74 and a current ratio of 0.98. The stock has a 50 day simple moving average of $132.96 and a 200 day simple moving average of $127.79. Amazon.com, Inc. has a 52-week low of $81.43 and a 52-week high of $145.86. The firm has a market capitalization of $1.45 trillion, a PE ratio of 72.85, a P/E/G ratio of 1.92 and a beta of 1.17.
Insider Activity at Amazon.com
In related news, CEO Andrew R. Jassy sold 21,933 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $133.92, for a total value of $2,937,267.36. Following the completion of the transaction, the chief executive officer now directly owns 2,030,868 shares in the company, valued at approximately $271,973,842.56. 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 Adam Selipsky sold 70,056 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $139.86, for a total value of $9,798,032.16. Following the sale, the chief executive officer now owns 104,864 shares in the company, valued at approximately $14,666,279.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew R. Jassy sold 21,933 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $133.92, for a total value of $2,937,267.36. Following the completion of the sale, the chief executive officer now owns 2,030,868 shares in the company, valued at approximately $271,973,842.56. The disclosure for this sale can be found here. In the last three months, insiders sold 182,145 shares of company stock worth $25,278,008. 12.30% of the stock is owned by company insiders.
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.
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