Red Door Wealth Management LLC Increases Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Red Door Wealth Management LLC increased its position in Amazon.com, Inc. (NASDAQ:AMZNFree Report) by 3.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,103 shares of the e-commerce giant’s stock after purchasing an additional 2,447 shares during the period. Amazon.com makes up approximately 2.9% of Red Door Wealth Management LLC’s holdings, making the stock its 7th biggest position. Red Door Wealth Management LLC’s holdings in Amazon.com were worth $15,171,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Cornerstone Wealth Group LLC raised its position in Amazon.com by 18.7% in the 1st quarter. Cornerstone Wealth Group LLC now owns 73,443 shares of the e-commerce giant’s stock worth $13,248,000 after buying an additional 11,574 shares during the last quarter. Richardson Capital Management LLC raised its position in Amazon.com by 1,800.0% in the 1st quarter. Richardson Capital Management LLC now owns 760 shares of the e-commerce giant’s stock worth $137,000 after buying an additional 720 shares during the last quarter. River Street Advisors LLC raised its position in Amazon.com by 26.9% in the 1st quarter. River Street Advisors LLC now owns 10,357 shares of the e-commerce giant’s stock worth $1,868,000 after buying an additional 2,198 shares during the last quarter. Physician Wealth Advisors Inc. raised its position in Amazon.com by 4.4% in the 1st quarter. Physician Wealth Advisors Inc. now owns 14,895 shares of the e-commerce giant’s stock worth $2,731,000 after buying an additional 631 shares during the last quarter. Finally, Merrion Investment Management Co LLC raised its position in Amazon.com by 4.2% in the 1st quarter. Merrion Investment Management Co LLC now owns 7,435 shares of the e-commerce giant’s stock worth $1,341,000 after buying an additional 300 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Insider Activity

In other news, CEO Adam Selipsky sold 500 shares of the firm’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $181.38, for a total transaction of $90,690.00. Following the transaction, the chief executive officer now owns 130,600 shares in the company, valued at $23,688,228. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Adam Selipsky sold 500 shares of the firm’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $181.38, for a total transaction of $90,690.00. Following the transaction, the chief executive officer now owns 130,600 shares in the company, valued at $23,688,228. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $180.29, for a total value of $631,015.00. Following the transaction, the chief executive officer now owns 509,358 shares in the company, valued at approximately $91,832,153.82. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,532,985 shares of company stock worth $305,578,679. Company insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Bank of America boosted their target price on Amazon.com from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. BMO Capital Markets upped their price target on shares of Amazon.com from $215.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Wells Fargo & Company upped their price target on shares of Amazon.com from $234.00 to $239.00 and gave the company an “overweight” rating in a research report on Friday, June 28th. Robert W. Baird upped their price target on shares of Amazon.com from $210.00 to $213.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. Finally, Telsey Advisory Group upped their price target on shares of Amazon.com from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a hold rating, forty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Amazon.com has an average rating of “Buy” and a consensus target price of $215.86.

Read Our Latest Research Report on Amazon.com

Amazon.com Stock Performance

NASDAQ:AMZN opened at $200.00 on Friday. The stock’s fifty day moving average is $185.99 and its 200 day moving average is $174.78. Amazon.com, Inc. has a fifty-two week low of $118.35 and a fifty-two week high of $200.55. The firm has a market capitalization of $2.08 trillion, a PE ratio of 56.02, a PEG ratio of 1.41 and a beta of 1.15. 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 (NASDAQ:AMZNGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.15. Amazon.com had a return on equity of 19.86% and a net margin of 6.38%. The company had revenue of $143.31 billion for the quarter, compared to analyst estimates of $142.65 billion. During the same quarter in the prior year, the firm posted $0.31 EPS. Amazon.com’s quarterly revenue was up 12.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Amazon.com, Inc. will post 4.72 earnings per share for the current year.

Amazon.com Company 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.

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

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