Mascagni Wealth Management Inc. Acquires New Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Mascagni Wealth Management Inc. purchased a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 8,269 shares of the e-commerce giant’s stock, valued at approximately $1,814,000. Amazon.com makes up 1.6% of Mascagni Wealth Management Inc.’s investment portfolio, making the stock its 13th largest position.

A number of other large investors have also added to or reduced their stakes in the company. Prostatis Group LLC raised its position in Amazon.com by 8.4% during the fourth quarter. Prostatis Group LLC now owns 13,766 shares of the e-commerce giant’s stock valued at $3,020,000 after purchasing an additional 1,071 shares in the last quarter. Nestegg Advisors Inc. purchased a new stake in Amazon.com during the fourth quarter valued at about $303,000. Fairtree Asset Management Pty Ltd purchased a new stake in Amazon.com during the fourth quarter valued at about $3,044,000. M1 Capital Management LLC purchased a new stake in Amazon.com during the fourth quarter valued at about $2,307,000. Finally, DSG Capital Advisors LLC purchased a new stake in Amazon.com during the fourth quarter valued at about $10,526,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Transactions at Amazon.com

In related news, CEO Douglas J. Herrington sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $204.98, for a total value of $512,450.00. Following the completion of the transaction, the chief executive officer now directly owns 517,050 shares in the company, valued at $105,984,909. The trade was a 0.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew R. Jassy sold 19,872 shares of the business’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $201.30, for a total transaction of $4,000,233.60. Following the completion of the transaction, the chief executive officer now owns 2,148,694 shares of the company’s stock, valued at approximately $432,532,102.20. The trade was a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 102,037 shares of company stock valued at $20,531,075 in the last ninety days. 9.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AMZN. JMP Securities restated a “market outperform” rating on shares of Amazon.com in a research report on Tuesday, May 6th. BNP Paribas upgraded Amazon.com to a “hold” rating in a report on Wednesday, April 30th. Barclays decreased their price objective on Amazon.com from $265.00 to $240.00 and set an “overweight” rating on the stock in a report on Friday, May 2nd. Piper Sandler reiterated an “overweight” rating and issued a $212.00 price objective (down previously from $215.00) on shares of Amazon.com in a report on Friday, May 2nd. Finally, Mizuho decreased their price objective on Amazon.com from $285.00 to $255.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company. Based on data from MarketBeat.com, Amazon.com has a consensus rating of “Moderate Buy” and a consensus price target of $244.89.

Amazon.com Stock Performance

Shares of AMZN opened at $213.57 on Monday. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average price is $191.84 and its 200-day moving average price is $208.82. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52. The stock has a market cap of $2.27 trillion, a P/E ratio of 38.62, a P/E/G ratio of 1.50 and a beta of 1.33.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.21. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. The firm had revenue of $155.67 billion for the quarter, compared to analysts’ expectations of $154.96 billion. During the same period in the previous year, the firm posted $0.98 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities research analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

About Amazon.com

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.