Aspetuck Financial Management LLC Purchases New Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Aspetuck Financial Management LLC bought a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 15,210 shares of the e-commerce giant’s stock, valued at approximately $2,894,000. Amazon.com comprises 2.5% of Aspetuck Financial Management LLC’s holdings, making the stock its 14th largest holding.

Several other institutional investors have also modified their holdings of AMZN. Pure Financial Advisors LLC lifted its position in shares of Amazon.com by 34.3% during the 1st quarter. Pure Financial Advisors LLC now owns 66,695 shares of the e-commerce giant’s stock valued at $12,689,000 after acquiring an additional 17,051 shares during the period. TSA Wealth Managment LLC boosted its position in shares of Amazon.com by 3.5% during the 1st quarter. TSA Wealth Managment LLC now owns 2,205 shares of the e-commerce giant’s stock valued at $420,000 after purchasing an additional 74 shares in the last quarter. Security National Bank boosted its position in shares of Amazon.com by 3.7% during the 1st quarter. Security National Bank now owns 74,384 shares of the e-commerce giant’s stock valued at $14,152,000 after purchasing an additional 2,622 shares in the last quarter. Omnia Family Wealth LLC boosted its holdings in Amazon.com by 16.0% in the first quarter. Omnia Family Wealth LLC now owns 17,118 shares of the e-commerce giant’s stock worth $3,257,000 after acquiring an additional 2,356 shares in the last quarter. Finally, New World Advisors LLC lifted its holdings in shares of Amazon.com by 18.5% in the first quarter. New World Advisors LLC now owns 18,016 shares of the e-commerce giant’s stock valued at $3,428,000 after purchasing an additional 2,819 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on AMZN shares. Benchmark reissued a “buy” rating and issued a $260.00 target price on shares of Amazon.com in a research report on Friday, May 2nd. Truist Financial boosted their target price on Amazon.com from $226.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Rosenblatt Securities upped their target price on Amazon.com from $287.00 to $288.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Oppenheimer upped their price objective on Amazon.com from $215.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, June 20th. Finally, Sanford C. Bernstein set a $235.00 price objective on Amazon.com and gave the stock an “outperform” rating in a research note on Tuesday, July 1st. Three research analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Amazon.com has an average rating of “Moderate Buy” and an average target price of $250.35.

Insider Activity at Amazon.com

In related news, insider Jeffrey P. Bezos sold 733,195 shares of the business’s stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $227.02, for a total transaction of $166,449,928.90. Following the transaction, the insider directly owned 894,546,706 shares of the company’s stock, valued at approximately $203,079,993,196.12. The trade was a 0.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas J. Herrington sold 2,500 shares of the company’s stock in a transaction on Tuesday, July 1st. The shares were 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 directly owned 514,550 shares in the company, valued at approximately $113,231,873. This represents a 0.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,335,232 shares of company stock worth $3,210,622,570 in the last 90 days. Company insiders own 9.70% of the company’s stock.

Amazon.com Stock Performance

Amazon.com stock opened at $223.88 on Friday. The stock has a 50-day simple moving average of $212.84 and a 200 day simple moving average of $208.62. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.17. Amazon.com, Inc. has a 12-month low of $151.61 and a 12-month high of $242.52. The stock has a market capitalization of $2.38 trillion, a price-to-earnings ratio of 36.46, a P/E/G ratio of 1.67 and a beta of 1.33.

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, topping the consensus estimate of $1.38 by $0.21. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The company had revenue of $155.67 billion during the quarter, compared to analyst estimates of $154.96 billion. During the same period in the previous year, the company earned $0.98 EPS. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, research analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal 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.