Udine Wealth Management Inc. Grows Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Udine Wealth Management Inc. raised its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 11.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,683 shares of the e-commerce giant’s stock after purchasing an additional 2,055 shares during the period. Amazon.com makes up approximately 2.6% of Udine Wealth Management Inc.’s holdings, making the stock its 9th largest holding. Udine Wealth Management Inc.’s holdings in Amazon.com were worth $3,935,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AMZN. Cable Hill Partners LLC lifted its holdings in Amazon.com by 0.5% in the fourth quarter. Cable Hill Partners LLC now owns 9,588 shares of the e-commerce giant’s stock valued at $2,104,000 after acquiring an additional 44 shares during the period. Quattro Financial Advisors LLC grew its stake in shares of Amazon.com by 23.8% during the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock worth $51,000 after purchasing an additional 45 shares during the period. Northern Capital Management Inc. increased its holdings in shares of Amazon.com by 0.6% during the 4th quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant’s stock valued at $1,613,000 after purchasing an additional 45 shares in the last quarter. White Wing Wealth Management increased its holdings in shares of Amazon.com by 2.4% during the 4th quarter. White Wing Wealth Management now owns 1,972 shares of the e-commerce giant’s stock valued at $433,000 after purchasing an additional 47 shares in the last quarter. Finally, Balanced Wealth Group LLC lifted its stake in shares of Amazon.com by 1.6% in the 4th quarter. Balanced Wealth Group LLC now owns 2,966 shares of the e-commerce giant’s stock valued at $705,000 after purchasing an additional 48 shares during the period. Institutional investors own 72.20% of the company’s stock.

Insiders Place Their Bets

In related news, Director Keith Brian Alexander sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $210.68, for a total value of $210,680.00. Following the transaction, the director now directly owns 5,465 shares in the company, valued at approximately $1,151,366.20. This represents a 15.47% 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, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $187.99, for a total value of $469,975.00. Following the completion of the transaction, the chief executive officer now owns 509,474 shares of the company’s stock, valued at $95,776,017.26. The trade was a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 102,037 shares of company stock valued at $20,531,075 over the last ninety days. Company insiders own 9.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on AMZN. JPMorgan Chase & Co. raised their price target on shares of Amazon.com from $225.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, June 4th. Tigress Financial increased their target price on shares of Amazon.com from $290.00 to $305.00 and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Mizuho dropped their target price on Amazon.com from $285.00 to $255.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Bank of America upped their price target on Amazon.com from $230.00 to $248.00 and gave the stock a “buy” rating in a report on Monday, June 2nd. Finally, The Goldman Sachs Group lowered their price target on Amazon.com from $255.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Four investment analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.89.

Amazon.com Stock Down 1.1%

Shares of NASDAQ:AMZN opened at $212.52 on Friday. 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 $2.26 trillion, a P/E ratio of 34.61, a PEG ratio of 1.61 and a beta of 1.33. The business has a fifty day moving average of $197.91 and a two-hundred day moving average of $209.34. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.17.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.21. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The firm had revenue of $155.67 billion for the quarter, compared to analysts’ expectations of $154.96 billion. During the same quarter in the previous year, the company posted $0.98 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. On average, research analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Amazon.com Company 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.