Sheets Smith Wealth Management Raises Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Sheets Smith Wealth Management increased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 0.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,855 shares of the e-commerce giant’s stock after purchasing an additional 264 shares during the period. Amazon.com accounts for 2.3% of Sheets Smith Wealth Management’s holdings, making the stock its 6th biggest holding. Sheets Smith Wealth Management’s holdings in Amazon.com were worth $18,237,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMZN. Norges Bank bought a new stake in shares of Amazon.com in the fourth quarter worth about $27,266,582,000. GAMMA Investing LLC increased its stake in Amazon.com by 21,420.5% in the 1st quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant’s stock worth $5,754,425,000 after acquiring an additional 30,104,520 shares during the last quarter. Capital World Investors increased its stake in Amazon.com by 36.8% in the 4th quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant’s stock worth $14,416,078,000 after acquiring an additional 17,681,004 shares during the last quarter. Vanguard Group Inc. increased its stake in Amazon.com by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock worth $180,637,081,000 after acquiring an additional 17,635,391 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its position in shares of Amazon.com by 17,054.5% during the 4th quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant’s stock valued at $2,652,116,000 after purchasing an additional 12,018,120 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $220.06, for a total value of $550,150.00. Following the transaction, the chief executive officer directly owned 514,550 shares of the company’s stock, valued at $113,231,873. The trade was a 0.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jeffrey P. Bezos sold 2,442,187 shares of the business’s stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $225.89, for a total value of $551,665,621.43. Following the sale, the insider owned 895,279,901 shares of the company’s stock, valued at $202,234,776,836.89. The trade was a 0.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,602,037 shares of company stock valued at $3,044,172,641 over the last 90 days. 10.80% of the stock is currently owned by insiders.

Amazon.com Trading Up 0.3%

NASDAQ AMZN opened at $226.35 on Wednesday. The company has a market cap of $2.40 trillion, a P/E ratio of 36.86, a P/E/G ratio of 1.69 and a beta of 1.33. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52. 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 has a 50-day moving average of $211.52 and a 200-day moving average of $208.50.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, topping 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 company had revenue of $155.67 billion for the quarter, compared to the consensus estimate of $154.96 billion. During the same quarter last year, the firm posted $0.98 earnings per share. Amazon.com’s revenue was up 8.6% on a year-over-year basis. As a group, equities analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AMZN. JMP Securities upped their price objective on Amazon.com from $250.00 to $285.00 and gave the company a “market outperform” rating in a research report on Thursday, July 10th. Raymond James Financial restated an “outperform” rating and issued a $195.00 price objective (down previously from $275.00) on shares of Amazon.com in a research report on Monday, April 21st. Oppenheimer boosted their price objective on Amazon.com from $215.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, June 20th. Wells Fargo & Company upped their price objective on shares of Amazon.com from $201.00 to $238.00 and gave the company an “equal weight” rating in a report on Tuesday, July 8th. Finally, Citizens Jmp assumed coverage on shares of Amazon.com in a research report on Thursday, July 10th. They issued a “strong-buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating, forty-five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $249.42.

Amazon.com Company 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.