Market Street Wealth Management Advisors LLC Boosts Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Market Street Wealth Management Advisors LLC boosted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 17.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,552 shares of the e-commerce giant’s stock after buying an additional 987 shares during the period. Market Street Wealth Management Advisors LLC’s holdings in Amazon.com were worth $1,247,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Castlekeep Investment Advisors LLC purchased a new stake in shares of Amazon.com during the 4th quarter valued at $25,000. Prudent Man Investment Management Inc. purchased a new stake in shares of Amazon.com during the 4th quarter valued at $27,000. LSV Asset Management purchased a new stake in shares of Amazon.com during the 4th quarter valued at $35,000. Perritt Capital Management Inc lifted its holdings in shares of Amazon.com by 72.7% during the 4th 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 last quarter. Finally, Compass Planning Associates Inc purchased a new stake in shares of Amazon.com during the 4th quarter valued at $51,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AMZN shares. Citigroup reiterated a “buy” rating on shares of Amazon.com in a report on Monday, June 2nd. Stifel Nicolaus reduced their target price on Amazon.com from $248.00 to $245.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Jefferies Financial Group reduced their target price on Amazon.com from $250.00 to $240.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Westpark Capital restated a “buy” rating and issued a $280.00 target price on shares of Amazon.com in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group reduced their target price on Amazon.com from $255.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $245.60.

Amazon.com Trading Up 1.5%

AMZN opened at $223.13 on Friday. The firm has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 36.34, a price-to-earnings-growth ratio of 1.68 and a beta of 1.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 0.84. The company’s 50 day simple moving average is $206.44 and its two-hundred day simple moving average is $208.62. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, beating the consensus estimate of $1.38 by $0.21. The firm had revenue of $155.67 billion for 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 business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.98 EPS. Analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Activity

In other news, CFO Brian T. Olsavsky sold 17,750 shares of Amazon.com stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $201.57, for a total transaction of $3,577,867.50. Following the sale, the chief financial officer owned 49,000 shares of the company’s stock, valued at approximately $9,876,930. The trade was a 26.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey P. Bezos sold 224,926 shares of Amazon.com stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $223.56, for a total transaction of $50,284,456.56. Following the sale, the insider directly owned 905,454,975 shares in the company, valued at approximately $202,423,514,211. The trade was a 0.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,426,963 shares of company stock worth $757,297,707. 9.70% of the stock is owned by company insiders.

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.