Northeast Financial Group Inc. Increases Position in Amazon.com, Inc. (NASDAQ:AMZN)

Northeast Financial Group Inc. boosted its position in Amazon.com, Inc. (NASDAQ:AMZN) by 66.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 12,827 shares of the e-commerce giant’s stock after acquiring an additional 5,131 shares during the period. Amazon.com comprises approximately 1.1% of Northeast Financial Group Inc.’s holdings, making the stock its 21st biggest holding. Northeast Financial Group Inc.’s holdings in Amazon.com were worth $2,479,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. International Assets Investment Management LLC boosted its position in shares of Amazon.com by 6.2% in the fourth quarter. International Assets Investment Management LLC now owns 157,070 shares of the e-commerce giant’s stock worth $23,865,000 after acquiring an additional 9,108 shares during the last quarter. Cherry Creek Investment Advisors Inc. raised its stake in Amazon.com by 1.0% during the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 62,278 shares of the e-commerce giant’s stock worth $9,463,000 after purchasing an additional 616 shares during the period. Gruss & Co. LLC boosted its holdings in shares of Amazon.com by 114.3% in the 4th quarter. Gruss & Co. LLC now owns 4,500 shares of the e-commerce giant’s stock valued at $684,000 after purchasing an additional 2,400 shares during the last quarter. Blossom Wealth Management grew its stake in shares of Amazon.com by 30.2% during the 4th quarter. Blossom Wealth Management now owns 4,913 shares of the e-commerce giant’s stock valued at $746,000 after buying an additional 1,140 shares during the period. Finally, Hendershot Investments Inc. increased its holdings in shares of Amazon.com by 6.4% during the 4th quarter. Hendershot Investments Inc. now owns 2,785 shares of the e-commerce giant’s stock worth $423,000 after buying an additional 167 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AMZN. Argus lifted their target price on Amazon.com from $185.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Loop Capital lifted their price objective on Amazon.com from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Barclays increased their target price on shares of Amazon.com from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Evercore ISI lifted their price target on shares of Amazon.com from $220.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Finally, Rosenblatt Securities increased their price objective on shares of Amazon.com from $220.00 to $221.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, forty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $221.36.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $175.50 on Tuesday. The company has a market cap of $1.83 trillion, a PE ratio of 49.16, a P/E/G ratio of 1.32 and a beta of 1.15. Amazon.com, Inc. has a fifty-two week low of $118.35 and a fifty-two week high of $201.20. The firm has a 50-day simple moving average of $183.61 and a 200 day simple moving average of $181.09. The company has a quick ratio of 0.87, a current ratio of 1.07 and a debt-to-equity ratio of 0.27.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, beating the consensus estimate of $1.05 by $0.18. The company had revenue of $147.98 billion during the quarter, compared to analyst estimates of $148.63 billion. Amazon.com had a return on equity of 22.35% and a net margin of 7.35%. On average, sell-side analysts anticipate that Amazon.com, Inc. will post 4.73 EPS for the current year.

Insider Buying and Selling at Amazon.com

In other news, VP Shelley Reynolds sold 3,791 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the transaction, the vice president now owns 121,461 shares in the company, valued at $21,989,299.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Amazon.com news, VP Shelley Reynolds sold 3,791 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the transaction, the vice president now directly owns 121,461 shares of the company’s stock, valued at approximately $21,989,299.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the transaction, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,107,817 shares of company stock worth $1,221,241,837. 10.80% of the stock is owned by insiders.

Amazon.com Profile

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.