Magnolia Private Wealth LLC Purchases 899 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Magnolia Private Wealth LLC boosted its position in Amazon.com, Inc. (NASDAQ:AMZN) by 31.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,788 shares of the e-commerce giant’s stock after buying an additional 899 shares during the quarter. Magnolia Private Wealth LLC’s holdings in Amazon.com were worth $721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of AMZN. Castlekeep Investment Advisors LLC purchased a new stake in Amazon.com during the 4th quarter valued at about $25,000. Prudent Man Investment Management Inc. purchased a new position in Amazon.com in the 4th quarter worth approximately $27,000. LSV Asset Management bought a new stake in Amazon.com in the fourth quarter valued at approximately $35,000. Perritt Capital Management Inc boosted its stake in shares of Amazon.com by 72.7% during the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock valued at $42,000 after purchasing an additional 80 shares during the period. Finally, Quattro Financial Advisors LLC boosted its stake in shares of Amazon.com by 23.8% during the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock valued at $51,000 after purchasing an additional 45 shares during the period. 72.20% of the stock is currently owned by institutional investors.

Amazon.com Stock Up 2.4%

Amazon.com stock opened at $217.12 on Friday. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52. The stock has a fifty day simple moving average of $201.25 and a two-hundred day simple moving average of $209.02. The firm has a market cap of $2.31 trillion, a price-to-earnings ratio of 35.36, a PEG ratio of 1.60 and a beta of 1.33. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 10.14% and a return on equity of 24.14%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 EPS. Equities analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Activity

In other news, CEO Douglas J. Herrington sold 2,500 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total transaction of $469,975.00. Following the sale, the chief executive officer now directly owns 509,474 shares in the company, valued at $95,776,017.26. This trade represents a 0.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Shelley Reynolds sold 2,695 shares of Amazon.com stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $200.79, for a total value of $541,129.05. Following the sale, the vice president now directly owns 119,780 shares in the company, valued at $24,050,626.20. This trade represents a 2.20% decrease in their position. 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 quarter. 9.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AMZN has been the topic of a number of recent analyst reports. DA Davidson cut their price target on shares of Amazon.com from $280.00 to $230.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Benchmark reiterated a “buy” rating and set a $260.00 target price on shares of Amazon.com in a report on Friday, May 2nd. Evercore ISI cut their target price on Amazon.com from $270.00 to $260.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Wedbush reaffirmed an “outperform” rating and set a $235.00 price target (up previously from $225.00) on shares of Amazon.com in a research report on Friday, May 2nd. Finally, Cantor Fitzgerald increased their price objective on Amazon.com from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Four analysts have rated the stock with a hold rating and forty-four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.