Amazon.com, Inc. $AMZN is Bingham Private Wealth LLC’s 3rd Largest Position

Bingham Private Wealth LLC increased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 4.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,386 shares of the e-commerce giant’s stock after purchasing an additional 557 shares during the period. Amazon.com accounts for about 2.6% of Bingham Private Wealth LLC’s holdings, making the stock its 3rd biggest holding. Bingham Private Wealth LLC’s holdings in Amazon.com were worth $2,547,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in AMZN. Castlekeep Investment Advisors LLC purchased a new position in Amazon.com in the 4th quarter valued at about $25,000. Prudent Man Investment Management Inc. purchased a new position in Amazon.com in the 4th quarter valued at about $27,000. LSV Asset Management purchased a new position in Amazon.com in the 4th quarter valued at about $35,000. Cooksen Wealth LLC bought a new position in shares of Amazon.com during the first quarter worth about $36,000. Finally, Inlight Wealth Management LLC bought a new position in shares of Amazon.com during the first quarter worth about $40,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,643,142 shares of the stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $230.43, for a total value of $609,059,211.06. Following the completion of the sale, the insider owned 883,779,901 shares in the company, valued at $203,649,402,587.43. This represents a 0.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $217.00, for a total transaction of $542,500.00. Following the completion of the sale, the chief executive officer owned 512,050 shares of the company’s stock, valued at approximately $111,114,850. The trade was a 0.49% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,096,253 shares of company stock valued at $5,673,745,409. Insiders own 10.80% of the company’s stock.

Amazon.com Trading Up 0.2%

Amazon.com stock opened at $231.49 on Tuesday. The company has a 50 day moving average price of $221.70 and a 200 day moving average price of $208.21. Amazon.com, Inc. has a 52 week low of $161.38 and a 52 week high of $242.52. 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 firm has a market capitalization of $2.47 trillion, a price-to-earnings ratio of 35.29, a P/E/G ratio of 1.56 and a beta of 1.31.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) 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 company had revenue of $167.70 billion during the quarter, compared to the consensus estimate of $161.80 billion. During the same quarter in the prior year, the firm earned $1.26 EPS. The company’s revenue was up 13.3% compared to the same quarter last year. Research analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AMZN shares. Needham & Company LLC reaffirmed a “buy” rating and set a $265.00 price target on shares of Amazon.com in a research report on Friday, August 1st. BNP Paribas raised shares of Amazon.com from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 27th. Wall Street Zen raised shares of Amazon.com from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Piper Sandler increased their price target on shares of Amazon.com from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Finally, DA Davidson increased their price target on shares of Amazon.com from $230.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. One analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $262.87.

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.