Golden State Wealth Management LLC Has $28.88 Million Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Golden State Wealth Management LLC boosted its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 116.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 151,761 shares of the e-commerce giant’s stock after purchasing an additional 81,659 shares during the period. Amazon.com makes up 2.1% of Golden State Wealth Management LLC’s portfolio, making the stock its 6th largest position. Golden State Wealth Management LLC’s holdings in Amazon.com were worth $28,875,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the company. Cable Hill Partners LLC increased its position in Amazon.com by 0.5% in the fourth quarter. Cable Hill Partners LLC now owns 9,588 shares of the e-commerce giant’s stock worth $2,104,000 after buying an additional 44 shares during the period. Northern Capital Management Inc. boosted its stake in Amazon.com by 0.6% during the fourth quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant’s stock valued at $1,613,000 after buying an additional 45 shares in the last quarter. White Wing Wealth Management boosted its stake in Amazon.com by 2.4% during the fourth quarter. White Wing Wealth Management now owns 1,972 shares of the e-commerce giant’s stock valued at $433,000 after buying an additional 47 shares in the last quarter. Balanced Wealth Group LLC increased its stake in Amazon.com by 1.6% in the 4th quarter. Balanced Wealth Group LLC now owns 2,966 shares of the e-commerce giant’s stock worth $705,000 after purchasing an additional 48 shares in the last quarter. Finally, ETF Store Inc. increased its stake in Amazon.com by 2.1% in the 4th quarter. ETF Store Inc. now owns 2,378 shares of the e-commerce giant’s stock worth $522,000 after purchasing an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AMZN. BNP Paribas Exane upgraded Amazon.com from a “neutral” rating to an “outperform” rating and set a $254.00 price target for the company in a report on Friday, June 27th. Moffett Nathanson upped their price target on Amazon.com from $250.00 to $253.00 and gave the company a “buy” rating in a report on Tuesday, June 24th. Scotiabank reduced their target price on Amazon.com from $306.00 to $250.00 and set a “sector outperform” rating for the company in a research report on Monday, April 21st. Telsey Advisory Group reiterated an “outperform” rating and issued a $235.00 price target on shares of Amazon.com in a research report on Thursday, July 10th. Finally, Tigress Financial increased their price objective on Amazon.com from $290.00 to $305.00 and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating, forty-five have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and an average target price of $250.35.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $223.88 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $2.38 trillion, a PE ratio of 36.46, a PEG ratio of 1.67 and a beta of 1.33. The firm’s fifty day simple moving average is $212.84 and its 200 day simple moving average is $208.62. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $154.96 billion. During the same period last year, the firm posted $0.98 EPS. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. On average, sell-side analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current year.

Insider Buying and Selling

In other news, CEO Matthew S. Garman sold 20,923 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey P. Bezos sold 4,273,237 shares of the business’s stock in a transaction on Friday, July 11th. The stock was sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the completion of the sale, the insider directly owned 897,722,088 shares in the company, valued at approximately $201,816,902,603.28. This represents a 0.47% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,335,232 shares of company stock valued at $3,210,622,570. Corporate insiders own 9.70% of the company’s stock.

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.