Accurate Wealth Management LLC Boosts Position in Amazon.com, Inc. (NASDAQ:AMZN)

Accurate Wealth Management LLC boosted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 5.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 41,961 shares of the e-commerce giant’s stock after acquiring an additional 1,985 shares during the quarter. Amazon.com accounts for 1.4% of Accurate Wealth Management LLC’s portfolio, making the stock its 11th biggest holding. Accurate Wealth Management LLC’s holdings in Amazon.com were worth $7,737,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Prairie Sky Financial Group LLC increased its position in Amazon.com by 1.7% during the first quarter. Prairie Sky Financial Group LLC now owns 49,136 shares of the e-commerce giant’s stock valued at $9,349,000 after acquiring an additional 806 shares during the last quarter. Shira Ridge Wealth Management increased its position in Amazon.com by 18.6% in the first quarter. Shira Ridge Wealth Management now owns 4,548 shares of the e-commerce giant’s stock worth $865,000 after buying an additional 712 shares in the last quarter. Fiduciary Financial Group LLC increased its position in Amazon.com by 8.2% in the first quarter. Fiduciary Financial Group LLC now owns 10,012 shares of the e-commerce giant’s stock worth $1,814,000 after buying an additional 763 shares in the last quarter. Kanen Wealth Management LLC increased its position in Amazon.com by 7.3% in the first quarter. Kanen Wealth Management LLC now owns 1,965 shares of the e-commerce giant’s stock worth $374,000 after buying an additional 134 shares in the last quarter. Finally, Simplicity Wealth LLC increased its position in Amazon.com by 114.2% in the first quarter. Simplicity Wealth LLC now owns 68,076 shares of the e-commerce giant’s stock worth $12,952,000 after buying an additional 36,299 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Activity

In related news, CEO Andrew R. Jassy sold 19,872 shares of the firm’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 sale, the chief executive officer now directly owns 2,148,694 shares of the company’s stock, valued at approximately $432,532,102.20. This trade represents a 0.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew S. Garman sold 20,923 shares of the firm’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 value of $4,211,799.90. The disclosure for this sale can be found here. Insiders sold 102,037 shares of company stock valued at $20,531,075 in the last ninety days. Insiders own 10.80% of the company’s stock.

Amazon.com Price Performance

NASDAQ:AMZN opened at $212.77 on Wednesday. The firm has a market capitalization of $2.26 trillion, a price-to-earnings ratio of 34.65, a PEG ratio of 1.57 and a beta of 1.33. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The business has a 50 day simple moving average of $199.60 and a 200-day simple moving average of $209.07. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 0.84.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.21. The business had revenue of $155.67 billion during the quarter, compared to analyst estimates of $154.96 billion. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the company earned $0.98 EPS. Equities analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current year.

Wall Street Analysts Forecast Growth

AMZN has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price target on Amazon.com from $225.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 4th. Moffett Nathanson upped their price target on Amazon.com from $250.00 to $253.00 and gave the stock a “buy” rating in a research report on Tuesday. Wedbush restated an “outperform” rating and issued a $235.00 price target (up previously from $225.00) on shares of Amazon.com in a research report on Friday, May 2nd. Needham & Company LLC restated a “buy” rating and issued a $220.00 price target on shares of Amazon.com in a research report on Friday, May 2nd. Finally, Mizuho reduced their price target on Amazon.com from $285.00 to $255.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Four analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $245.64.

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.