Primoris Wealth Advisors LLC Increases Position in Amazon.com, Inc. (NASDAQ:AMZN)

Primoris Wealth Advisors LLC lifted its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 1.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,776 shares of the e-commerce giant’s stock after buying an additional 288 shares during the period. Amazon.com comprises 3.5% of Primoris Wealth Advisors LLC’s holdings, making the stock its 8th largest holding. Primoris Wealth Advisors LLC’s holdings in Amazon.com were worth $4,524,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Castlekeep Investment Advisors LLC bought a new position in Amazon.com during the 4th quarter valued at about $25,000. Prudent Man Investment Management Inc. bought a new position in Amazon.com during the 4th quarter valued at about $27,000. LSV Asset Management bought a new position in Amazon.com during the 4th quarter valued at about $35,000. Inlight Wealth Management LLC bought a new position in Amazon.com during the 1st quarter valued at about $40,000. Finally, Perritt Capital Management Inc grew its holdings in Amazon.com by 72.7% during the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock valued at $42,000 after purchasing an additional 80 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

Amazon.com Price Performance

AMZN stock opened at $226.13 on Friday. The firm has a 50-day moving average of $213.50 and a two-hundred day moving average of $208.59. 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 $2.40 trillion, a PE ratio of 36.83, a P/E/G ratio of 1.69 and a beta of 1.33. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $242.52.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data 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 the consensus estimate of $154.96 billion. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. Amazon.com’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company posted $0.98 earnings per share. On average, analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AMZN shares. Wells Fargo & Company boosted their price objective on shares of Amazon.com from $201.00 to $238.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 8th. The Goldman Sachs Group lowered their price target on shares of Amazon.com from $255.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Mizuho lowered their price target on shares of Amazon.com from $285.00 to $255.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Wedbush reissued an “outperform” rating and set a $235.00 target price (up previously from $225.00) on shares of Amazon.com in a research report on Friday, May 2nd. Finally, BNP Paribas raised shares of Amazon.com from a “hold” rating to a “strong-buy” rating in a report on Friday, June 27th. Three 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. According to MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $250.35.

Insider Activity

In other Amazon.com news, insider Jeffrey P. Bezos sold 4,273,237 shares of the company’s stock in a transaction that occurred 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 transaction, the insider owned 897,722,088 shares of the company’s stock, valued at $201,816,902,603.28. This represents a 0.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Matthew S. Garman sold 20,923 shares of the company’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $201.30, for a total value of $4,211,799.90. The disclosure for this sale can be found here. Insiders have sold a total of 14,335,232 shares of company stock valued at $3,210,622,570 over the last 90 days. Corporate insiders own 9.70% of the company’s stock.

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.