Topsail Wealth Management LLC Purchases 1,082 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Topsail Wealth Management LLC grew its position in Amazon.com, Inc. (NASDAQ:AMZN) by 8.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,508 shares of the e-commerce giant’s stock after acquiring an additional 1,082 shares during the quarter. Amazon.com accounts for 0.5% of Topsail Wealth Management LLC’s portfolio, making the stock its 20th biggest holding. Topsail Wealth Management LLC’s holdings in Amazon.com were worth $2,570,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Western Wealth Management LLC boosted its holdings in shares of Amazon.com by 0.9% in the 1st quarter. Western Wealth Management LLC now owns 140,122 shares of the e-commerce giant’s stock worth $26,660,000 after purchasing an additional 1,297 shares during the period. Momentous Wealth Management Inc. purchased a new position in shares of Amazon.com in the 4th quarter worth approximately $749,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Amazon.com in the 1st quarter worth approximately $514,000. Segall Bryant & Hamill LLC boosted its holdings in Amazon.com by 14.3% during the 4th quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant’s stock valued at $69,572,000 after acquiring an additional 39,696 shares during the period. Finally, Bearing Point Capital LLC purchased a new position in Amazon.com during the 4th quarter valued at $12,014,000. Institutional investors own 72.20% of the company’s stock.

Amazon.com Trading Down 1.4%

Shares of NASDAQ:AMZN opened at $211.65 on Tuesday. The business’s 50-day moving average is $218.42 and its 200 day moving average is $208.93. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The firm has a market capitalization of $2.25 trillion, a P/E ratio of 32.26, a P/E/G ratio of 1.57 and a beta of 1.31. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.81.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.37. The business had revenue of $167.70 billion for the quarter, compared to analyst estimates of $161.80 billion. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%. The company’s revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.26 earnings per share. On average, research analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AMZN has been the subject of a number of recent analyst reports. Oppenheimer dropped their price objective on Amazon.com from $250.00 to $245.00 and set an “outperform” rating for the company in a report on Friday. Cowen restated a “buy” rating on shares of Amazon.com in a report on Friday. Rosenblatt Securities boosted their price objective on Amazon.com from $288.00 to $297.00 and gave the company a “buy” rating in a report on Friday. Truist Financial boosted their price objective on Amazon.com from $226.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, July 2nd. Finally, Bank of America boosted their price objective on Amazon.com from $265.00 to $272.00 and gave the company a “buy” rating in a report on Friday. One analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Amazon.com currently has a consensus rating of “Buy” and a consensus price target of $262.45.

Insider Buying and Selling at Amazon.com

In other news, insider Jeffrey P. Bezos sold 4,273,237 shares of the stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $224.81, for a total value of $960,666,409.97. Following the transaction, the insider directly owned 897,722,088 shares of the company’s stock, valued at approximately $201,816,902,603.28. This represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 25,099,537 shares of company stock valued at $5,674,394,548 over the last quarter. 10.80% of the stock is currently owned by corporate insiders.

Amazon.com 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.