Balentine LLC Increases Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Balentine LLC increased its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 39.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 77,969 shares of the e-commerce giant’s stock after purchasing an additional 21,973 shares during the quarter. Amazon.com comprises about 0.4% of Balentine LLC’s holdings, making the stock its 26th largest position. Balentine LLC’s holdings in Amazon.com were worth $11,847,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. E Fund Management Hong Kong Co. Ltd. lifted its stake in Amazon.com by 45.0% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 277 shares of the e-commerce giant’s stock worth $42,000 after purchasing an additional 86 shares during the last quarter. Strid Group LLC bought a new stake in shares of Amazon.com in the 4th quarter valued at about $43,000. Harbor Investment Advisory LLC raised its position in Amazon.com by 0.7% during the 4th quarter. Harbor Investment Advisory LLC now owns 299,959 shares of the e-commerce giant’s stock valued at $46,000 after purchasing an additional 1,988 shares during the last quarter. Authentikos Wealth Advisory LLC bought a new position in Amazon.com during the 3rd quarter valued at approximately $49,000. Finally, Bruce G. Allen Investments LLC bought a new position in Amazon.com during the 4th quarter valued at approximately $57,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Truist Financial upped their target price on Amazon.com from $216.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Citigroup lifted their price target on shares of Amazon.com from $235.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Piper Sandler lifted their price target on shares of Amazon.com from $205.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Wells Fargo & Company lifted their price target on shares of Amazon.com from $217.00 to $234.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Finally, Loop Capital lifted their price target on shares of Amazon.com from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, May 6th. One research analyst has rated the stock with a hold rating, forty-four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Amazon.com presently has an average rating of “Buy” and a consensus price target of $212.40.

View Our Latest Stock Analysis on Amazon.com

Insider Transactions at Amazon.com

In other news, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $177.29, for a total transaction of $620,515.00. Following the sale, the chief executive officer now directly owns 523,253 shares of the company’s stock, valued at approximately $92,767,524.37. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Adam Selipsky sold 500 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $184.00, for a total value of $92,000.00. Following the transaction, the chief executive officer now directly owns 131,600 shares of the company’s stock, valued at approximately $24,214,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $177.29, for a total transaction of $620,515.00. Following the completion of the transaction, the chief executive officer now directly owns 523,253 shares in the company, valued at $92,767,524.37. The disclosure for this sale can be found here. Insiders have sold a total of 65,838 shares of company stock valued at $11,984,344 in the last ninety days. 10.80% of the stock is currently owned by corporate insiders.

Amazon.com Price Performance

NASDAQ:AMZN opened at $185.00 on Friday. The firm’s fifty day moving average is $182.46 and its two-hundred day moving average is $168.39. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.87 and a current ratio of 1.07. Amazon.com, Inc. has a one year low of $118.35 and a one year high of $191.70. The firm has a market cap of $1.93 trillion, a price-to-earnings ratio of 51.82, a PEG ratio of 1.28 and a beta of 1.14.

Amazon.com (NASDAQ:AMZNGet Free Report) last posted its earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.15. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. The business had revenue of $143.31 billion for the quarter, compared to analyst estimates of $142.65 billion. During the same period in the prior year, the company posted $0.31 EPS. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. Research analysts expect that Amazon.com, Inc. will post 4.72 EPS for the current year.

Amazon.com Profile

(Free Report)

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.

Further Reading

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

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