Novem Group Has $2.81 Million Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Novem Group raised its position in Amazon.com, Inc. (NASDAQ:AMZN) by 15.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 14,780 shares of the e-commerce giant’s stock after purchasing an additional 1,951 shares during the period. Novem Group’s holdings in Amazon.com were worth $2,812,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Castlekeep Investment Advisors LLC bought a new stake in shares of Amazon.com in the 4th quarter valued at $25,000. Prudent Man Investment Management Inc. bought a new stake in shares of Amazon.com in the 4th quarter valued at $27,000. LSV Asset Management bought a new stake in shares of Amazon.com in the 4th quarter valued at $35,000. Inlight Wealth Management LLC bought a new stake in shares of Amazon.com in the 1st quarter valued at $40,000. Finally, Perritt Capital Management Inc increased its stake in shares of Amazon.com by 72.7% in the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock valued at $42,000 after acquiring an additional 80 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Trading Down 0.3%

Shares of AMZN opened at $231.44 on Monday. The firm’s 50 day simple moving average is $215.66 and its 200 day simple moving average is $208.72. The company has a market capitalization of $2.46 trillion, a P/E ratio of 37.69, a P/E/G ratio of 1.72 and a beta of 1.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 0.84. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, topping the consensus estimate of $1.38 by $0.21. The firm 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%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $0.98 earnings per share. Sell-side analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of Amazon.com stock in a transaction on Friday, July 11th. The shares were sold at an average price of $224.81, for a total value of $960,666,409.97. Following the transaction, the insider owned 897,722,088 shares in the company, valued at $201,816,902,603.28. This trade represents a 0.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 25,102,037 shares of company stock valued at $5,674,871,223. 10.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AMZN shares. UBS Group reiterated a “buy” rating on shares of Amazon.com in a research note on Tuesday, May 6th. Telsey Advisory Group reiterated an “outperform” rating and issued a $235.00 price objective on shares of Amazon.com in a research note on Thursday, July 10th. Piper Sandler set a $250.00 price objective on shares of Amazon.com and gave the company an “overweight” rating in a research note on Friday, July 11th. BNP Paribas Exane upgraded shares of Amazon.com from a “neutral” rating to an “outperform” rating and set a $254.00 price target for the company in a research note on Friday, June 27th. Finally, Cantor Fitzgerald boosted their price target on shares of Amazon.com from $240.00 to $260.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. Three analysts have rated the stock with a hold rating, forty-five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Amazon.com has a consensus rating of “Moderate Buy” and an average target price of $254.33.

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.