Amazon.com, Inc. (NASDAQ:AMZN) Stock Position Lifted by Sovereign Financial Group Inc.

Sovereign Financial Group Inc. lifted its position in Amazon.com, Inc. (NASDAQ:AMZN) by 4.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,100 shares of the e-commerce giant’s stock after buying an additional 774 shares during the quarter. Amazon.com comprises 0.8% of Sovereign Financial Group Inc.’s investment portfolio, making the stock its 26th largest holding. Sovereign Financial Group Inc.’s holdings in Amazon.com were worth $3,559,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of AMZN. PayPay Securities Corp increased its holdings in shares of Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after acquiring an additional 64 shares during the last quarter. Christopher J. Hasenberg Inc grew its holdings in Amazon.com by 650.0% during the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after purchasing an additional 260 shares during the last quarter. Koesten Hirschmann & Crabtree INC. bought a new position in shares of Amazon.com in the first quarter valued at approximately $69,000. Innealta Capital LLC acquired a new stake in shares of Amazon.com in the second quarter worth $77,000. Finally, Abich Financial Wealth Management LLC boosted its holdings in shares of Amazon.com by 84.7% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 434 shares of the e-commerce giant’s stock worth $84,000 after buying an additional 199 shares during the period. Institutional investors own 72.20% of the company’s stock.

Insiders Place Their Bets

In other news, SVP David Zapolsky sold 2,190 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the transaction, the senior vice president now owns 62,420 shares of the company’s stock, valued at $12,171,900. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the transaction, the senior vice president now directly owns 62,420 shares in the company, valued at approximately $12,171,900. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Shelley Reynolds sold 3,791 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total value of $686,322.64. Following the completion of the sale, the vice president now owns 121,461 shares of the company’s stock, valued at $21,989,299.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,855 shares of company stock valued at $9,215,048. Company insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wells Fargo & Company lowered shares of Amazon.com from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $225.00 to $183.00 in a research report on Monday, October 7th. Evercore ISI increased their target price on Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday. Loop Capital raised their target price on Amazon.com from $750.00 to $800.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Monness Crespi & Hardt upped their price target on Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Friday. Finally, Itau BBA Securities downgraded shares of Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 price objective on the stock. in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $246.48.

Amazon.com Stock Down 1.1 %

NASDAQ AMZN opened at $195.78 on Tuesday. The stock has a market capitalization of $2.05 trillion, a P/E ratio of 41.92, a price-to-earnings-growth ratio of 1.42 and a beta of 1.14. Amazon.com, Inc. has a 52 week low of $138.36 and a 52 week high of $201.20. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. The stock has a fifty day moving average of $185.23 and a 200-day moving average of $183.89.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The company had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 23.46%. The company’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.85 EPS. On average, equities research analysts forecast that Amazon.com, Inc. will post 4.84 EPS for the current year.

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.