Seaside Wealth Management Inc. Invests $359,000 in Amazon.com, Inc. (NASDAQ:AMZN)

Seaside Wealth Management Inc. bought a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,886 shares of the e-commerce giant’s stock, valued at approximately $359,000.

A number of other institutional investors also recently modified their holdings of AMZN. Prudent Man Investment Management Inc. purchased a new position in shares of Amazon.com during the fourth quarter valued at approximately $27,000. LSV Asset Management purchased a new position in shares of Amazon.com during the fourth quarter valued at approximately $35,000. Perritt Capital Management Inc lifted its holdings in shares of Amazon.com by 72.7% during the fourth 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. Cooksen Wealth LLC purchased a new position in shares of Amazon.com during the first quarter valued at approximately $36,000. Finally, Inlight Wealth Management LLC purchased a new position in shares of Amazon.com during the first quarter valued at approximately $40,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AMZN shares. Moffett Nathanson lifted their price target on shares of Amazon.com from $250.00 to $253.00 and gave the stock a “buy” rating in a research note on Tuesday, June 24th. Pivotal Research boosted their price target on shares of Amazon.com from $260.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Citizens Jmp began coverage on shares of Amazon.com in a research note on Thursday, July 10th. They issued a “strong-buy” rating on the stock. Wall Street Zen upgraded shares of Amazon.com from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Finally, Royal Bank Of Canada boosted their target price on shares of Amazon.com from $230.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. One research 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $262.45.

Amazon.com Stock Performance

Shares of AMZN opened at $224.66 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 1.02. The stock has a market capitalization of $2.40 trillion, a P/E ratio of 34.25, a P/E/G ratio of 1.49 and a beta of 1.31. The company’s fifty day moving average is $220.60 and its two-hundred day moving average is $208.72. Amazon.com, Inc. has a 1 year low of $161.38 and a 1 year high of $242.52.

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

Insider Buying and Selling at Amazon.com

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of the stock in a transaction that occurred on Friday, July 11th. The shares were 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 25,096,253 shares of company stock worth $5,673,745,409. 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.