Petros Family Wealth LLC Purchases 712 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Petros Family Wealth LLC lifted its position in Amazon.com, Inc. (NASDAQ:AMZN) by 10.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,323 shares of the e-commerce giant’s stock after buying an additional 712 shares during the quarter. Amazon.com comprises approximately 1.5% of Petros Family Wealth LLC’s holdings, making the stock its 16th biggest position. Petros Family Wealth LLC’s holdings in Amazon.com were worth $1,393,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMZN. Prudent Man Investment Management Inc. acquired a new position in Amazon.com in the fourth quarter valued at about $27,000. LSV Asset Management acquired a new position in shares of Amazon.com in the fourth quarter valued at approximately $35,000. Perritt Capital Management Inc increased its stake in shares of Amazon.com by 72.7% in the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock valued at $42,000 after buying an additional 80 shares during the period. Inlight Wealth Management LLC bought a new stake in Amazon.com in the first quarter valued at approximately $40,000. Finally, Capitol Family Office Inc. bought a new stake in Amazon.com in the first quarter valued at approximately $42,000. 72.20% of the stock is owned by institutional investors.

Insider Activity at Amazon.com

In other news, CEO Matthew S. Garman sold 20,923 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew R. Jassy sold 19,872 shares of the firm’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total transaction of $4,000,233.60. Following the sale, the chief executive officer owned 2,148,694 shares in the company, valued at $432,532,102.20. The trade was a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,602,037 shares of company stock worth $3,044,172,641. 10.80% of the stock is owned by company insiders.

Amazon.com Trading Up 0.3%

Shares of NASDAQ:AMZN opened at $226.35 on Wednesday. The stock has a market capitalization of $2.40 trillion, a price-to-earnings ratio of 36.86, a PEG ratio of 1.69 and a beta of 1.33. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.05. The stock’s 50-day simple moving average is $211.52 and its two-hundred day simple moving average is $208.50. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52.

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Cantor Fitzgerald upped their target price on Amazon.com from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. The Goldman Sachs Group decreased their target price on Amazon.com from $255.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Evercore ISI decreased their target price on Amazon.com from $270.00 to $260.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Wells Fargo & Company lifted their price objective on Amazon.com from $201.00 to $238.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 8th. Finally, Citizens Jmp assumed coverage on Amazon.com in a research note on Thursday, July 10th. They issued a “strong-buy” rating for the company. Three research analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $249.42.

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.