Sterling Financial Group Inc. Has $1.89 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Sterling Financial Group Inc. increased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 27.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,919 shares of the e-commerce giant’s stock after acquiring an additional 2,146 shares during the quarter. Amazon.com comprises approximately 0.7% of Sterling Financial Group Inc.’s investment portfolio, making the stock its 24th biggest holding. Sterling Financial Group Inc.’s holdings in Amazon.com were worth $1,887,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

AMZN has been the subject of several research analyst reports. Cantor Fitzgerald upped their price target on shares of Amazon.com from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Oppenheimer boosted their price objective on shares of Amazon.com from $215.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, June 20th. BNP Paribas raised shares of Amazon.com to a “hold” rating in a research note on Wednesday, April 30th. Evercore ISI dropped their price target 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. Finally, DA Davidson cut their price target on Amazon.com from $280.00 to $230.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating and forty-five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $245.81.

Amazon.com Stock Up 2.8%

AMZN opened at $223.30 on Friday. The stock has a fifty day moving average of $202.26 and a 200-day moving average of $209.01. The company has a market capitalization of $2.37 trillion, a P/E ratio of 36.37, a P/E/G ratio of 1.64 and a beta of 1.33. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.05.

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 analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $154.96 billion. During the same quarter 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. On average, equities analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current year.

Insider Activity

In other Amazon.com news, VP Shelley Reynolds sold 2,695 shares of the firm’s stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $200.79, for a total transaction of $541,129.05. Following the transaction, the vice president now owns 119,780 shares in the company, valued at $24,050,626.20. This trade represents a 2.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew S. Garman sold 20,923 shares of the company’s stock in a transaction on Wednesday, May 21st. The shares were 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. Over the last ninety days, insiders sold 102,037 shares of company stock worth $20,531,075. Corporate insiders own 9.70% of the company’s stock.

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.