Coerente Capital Management Raises Holdings in Amazon.com, Inc. $AMZN

Coerente Capital Management lifted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,327 shares of the e-commerce giant’s stock after purchasing an additional 858 shares during the period. Amazon.com accounts for about 5.3% of Coerente Capital Management’s portfolio, making the stock its 5th biggest position. Coerente Capital Management’s holdings in Amazon.com were worth $29,031,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMZN. Carderock Capital Management Inc. bought a new position in shares of Amazon.com in the 2nd quarter worth $27,000. Cooksen Wealth LLC bought a new position in shares of Amazon.com in the 1st quarter worth $36,000. Inlight Wealth Management LLC bought a new position in shares of Amazon.com in the first quarter valued at $40,000. Maryland Capital Advisors Inc. lifted its stake in shares of Amazon.com by 81.9% in the second quarter. Maryland Capital Advisors Inc. now owns 211 shares of the e-commerce giant’s stock valued at $46,000 after buying an additional 95 shares in the last quarter. Finally, Capitol Family Office Inc. bought a new position in shares of Amazon.com in the first quarter valued at $42,000. 72.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Matthew S. Garman sold 17,785 shares of Amazon.com stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $221.57, for a total transaction of $3,940,622.45. Following the sale, the chief executive officer directly owned 3,138 shares of the company’s stock, valued at approximately $695,286.66. The trade was a 85.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP David Zapolsky sold 13,570 shares of Amazon.com stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $222.76, for a total value of $3,022,853.20. Following the sale, the senior vice president directly owned 44,110 shares in the company, valued at approximately $9,825,943.60. The trade was a 23.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 97,911 shares of company stock worth $21,765,202. Insiders own 9.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AMZN. Westpark Capital reaffirmed a “buy” rating and issued a $280.00 price target on shares of Amazon.com in a research report on Friday, August 1st. Evercore ISI restated an “outperform” rating and issued a $280.00 target price on shares of Amazon.com in a report on Wednesday, August 13th. Canaccord Genuity Group restated a “buy” rating and issued a $280.00 target price on shares of Amazon.com in a report on Friday, August 1st. Royal Bank Of Canada raised their price objective on Amazon.com from $230.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Amazon.com from $230.00 to $266.00 in a research note on Tuesday, July 22nd. Four analysts have rated the stock with a Strong Buy rating, forty-eight have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Amazon.com currently has an average rating of “Buy” and a consensus price target of $268.54.

Amazon.com Price Performance

Shares of Amazon.com stock opened at $230.30 on Thursday. The business has a 50 day moving average of $225.17 and a 200 day moving average of $215.34. Amazon.com, Inc. has a 52 week low of $161.38 and a 52 week high of $242.52. The company has a market cap of $2.46 trillion, a PE ratio of 35.11, a P/E/G ratio of 1.51 and a beta of 1.28. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 0.15.

Amazon.com (NASDAQ:AMZN) last announced its earnings results 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 firm had revenue of $167.70 billion for the quarter, compared to analyst estimates of $161.80 billion. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.26 EPS. As a group, equities research analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Amazon.com Company 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.