Balance Wealth LLC Invests $718,000 in Amazon.com, Inc. (NASDAQ:AMZN)

Balance Wealth LLC bought a new position in Amazon.com, Inc. (NASDAQ:AMZN) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 3,775 shares of the e-commerce giant’s stock, valued at approximately $718,000.

Other institutional investors have also recently made changes to their positions in the company. Castlekeep Investment Advisors LLC purchased a new stake in Amazon.com during the fourth quarter worth about $25,000. Prudent Man Investment Management Inc. purchased a new stake in Amazon.com during the fourth quarter worth about $27,000. LSV Asset Management purchased a new stake in Amazon.com during the fourth quarter worth about $35,000. Inlight Wealth Management LLC purchased a new stake in Amazon.com during the first quarter worth about $40,000. Finally, Perritt Capital Management Inc increased its holdings in Amazon.com by 72.7% during the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock worth $42,000 after buying an additional 80 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Insiders Place Their Bets

In related news, insider Jeffrey P. Bezos sold 2,442,187 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider owned 895,279,901 shares of the company’s stock, valued at $202,234,776,836.89. This trade represents a 0.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Douglas J. Herrington sold 2,500 shares of the firm’s stock in a transaction 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 sale, 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 disclosure for this sale can be found here. Insiders sold 13,602,037 shares of company stock valued at $3,044,172,641 in the last ninety days. 9.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AMZN shares. Raymond James Financial restated an “outperform” rating and set a $195.00 price objective (down previously from $275.00) on shares of Amazon.com in a report on Monday, April 21st. DA Davidson dropped their price objective on shares of Amazon.com from $280.00 to $230.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Cantor Fitzgerald upped their price objective on shares of Amazon.com from $240.00 to $260.00 and gave the company an “overweight” rating in a report on Wednesday. Scotiabank dropped 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 report on Monday, April 21st. Finally, Jefferies Financial Group upped their price objective on shares of Amazon.com from $255.00 to $265.00 in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating, forty-five have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $250.35.

Amazon.com Stock Down 1.4%

Shares of Amazon.com stock opened at $223.19 on Thursday. 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, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52. The stock has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 36.35, a P/E/G ratio of 1.69 and a beta of 1.33. The company’s 50 day moving average price is $212.21 and its 200-day moving average price is $208.60.

Amazon.com (NASDAQ:AMZN) last issued 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. 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 for the quarter, compared to analysts’ expectations of $154.96 billion. During the same quarter last year, the business earned $0.98 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis. Equities research analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current year.

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.