MGO Private Wealth LLC Increases Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

MGO Private Wealth LLC increased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 1.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,884 shares of the e-commerce giant’s stock after buying an additional 217 shares during the quarter. Amazon.com accounts for about 1.6% of MGO Private Wealth LLC’s investment portfolio, making the stock its 17th largest position. MGO Private Wealth LLC’s holdings in Amazon.com were worth $2,261,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tallon Kerry Patrick bought a new stake in shares of Amazon.com during the fourth quarter valued at approximately $800,000. Capital & Planning LLC raised its position in shares of Amazon.com by 72.1% during the fourth quarter. Capital & Planning LLC now owns 3,902 shares of the e-commerce giant’s stock valued at $856,000 after buying an additional 1,635 shares during the last quarter. LaFleur & Godfrey LLC raised its position in shares of Amazon.com by 1.8% during the fourth quarter. LaFleur & Godfrey LLC now owns 49,407 shares of the e-commerce giant’s stock valued at $10,839,000 after buying an additional 860 shares during the last quarter. Brighton Jones LLC raised its position in shares of Amazon.com by 10.9% during the fourth quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant’s stock valued at $885,478,000 after buying an additional 397,007 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Amazon.com during the fourth quarter valued at approximately $301,650,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

AMZN has been the topic of several recent analyst reports. Telsey Advisory Group reiterated an “outperform” rating and set a $235.00 price objective on shares of Amazon.com in a research report on Friday, May 2nd. Scotiabank reduced their price objective on shares of Amazon.com from $306.00 to $250.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 21st. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Amazon.com from $287.00 to $206.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Citizens Jmp reduced their price objective on shares of Amazon.com from $285.00 to $240.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Finally, Tigress Financial boosted their price target on shares of Amazon.com from $290.00 to $305.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating, forty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $245.60.

Insider Activity

In other news, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $220.06, for a total value of $550,150.00. Following the completion of the transaction, the chief executive officer owned 514,550 shares in the company, valued at approximately $113,231,873. This trade represents a 0.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Shelley Reynolds sold 2,695 shares of Amazon.com stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $200.79, for a total value of $541,129.05. Following the completion of the transaction, the vice president owned 119,780 shares of the company’s stock, valued at approximately $24,050,626.20. The trade was a 2.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,426,963 shares of company stock worth $757,297,707 over the last quarter. Corporate insiders own 10.80% of the company’s stock.

Amazon.com Stock Performance

Shares of NASDAQ:AMZN opened at $223.13 on Monday. The firm has a market capitalization of $2.37 trillion, a PE ratio of 36.34, a P/E/G 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 business has a 50-day moving average of $206.44 and a two-hundred day moving average of $208.52. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52.

Amazon.com (NASDAQ:AMZN) last posted its earnings results 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 return on equity of 24.14% and a net margin of 10.14%. The business had revenue of $155.67 billion during the quarter, compared to analyst estimates of $154.96 billion. During the same quarter last year, the firm earned $0.98 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, research analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

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.