Wealthsource Partners LLC raised its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 19.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,233 shares of the e-commerce giant’s stock after purchasing an additional 204 shares during the period. Wealthsource Partners LLC’s holdings in Amazon.com were worth $1,185,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Coastline Trust Co increased its position in shares of Amazon.com by 48.8% during the third quarter. Coastline Trust Co now owns 3,871 shares of the e-commerce giant’s stock worth $3,721,000 after purchasing an additional 1,269 shares in the last quarter. Truepoint Inc. increased its position in shares of Amazon.com by 94,448.7% during the third quarter. Truepoint Inc. now owns 572,965 shares of the e-commerce giant’s stock worth $573,000 after purchasing an additional 572,359 shares in the last quarter. Atlantic Trust LLC increased its position in shares of Amazon.com by 7.5% during the third quarter. Atlantic Trust LLC now owns 2,776 shares of the e-commerce giant’s stock worth $2,669,000 after purchasing an additional 193 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd acquired a new position in shares of Amazon.com during the third quarter worth $213,000. Finally, Salem Investment Counselors Inc. increased its position in shares of Amazon.com by 8.7% in the 3rd quarter. Salem Investment Counselors Inc. now owns 17,565 shares of the e-commerce giant’s stock valued at $16,795,000 after acquiring an additional 1,405 shares during the period. 60.22% of the stock is currently owned by institutional investors and hedge funds.
AMZN has been the topic of several research reports. JPMorgan Chase & Co. reissued a “buy” rating and issued a $1,385.00 target price (up from $1,375.00) on shares of Amazon.com in a research report on Wednesday, January 10th. Wolfe Research raised Amazon.com from a “peer perform” rating to an “outperform” rating in a research report on Friday, February 23rd. DA Davidson upped their target price on Amazon.com from $1,300.00 to $1,500.00 and gave the company a “buy” rating in a research report on Wednesday, November 29th. BMO Capital Markets upped their target price on Amazon.com to $1,600.00 and gave the company an “outperform” rating in a research report on Tuesday, January 16th. Finally, Barclays reissued an “overweight” rating and issued a $1,580.00 target price on shares of Amazon.com in a research report on Friday, February 2nd. Five analysts have rated the stock with a hold rating, forty-seven have given a buy rating and two have issued a strong buy rating to the stock. Amazon.com presently has an average rating of “Buy” and a consensus target price of $1,472.95.
Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, February 1st. The e-commerce giant reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.31. Amazon.com had a net margin of 1.71% and a return on equity of 9.23%. The firm had revenue of $60.45 billion during the quarter, compared to the consensus estimate of $59.85 billion. During the same quarter in the prior year, the firm earned $1.54 EPS. The company’s revenue for the quarter was up 38.2% on a year-over-year basis. analysts forecast that Amazon.com, Inc. will post 8.49 earnings per share for the current year.
In other Amazon.com news, VP Shelley Reynolds sold 544 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $1,462.32, for a total value of $795,502.08. Following the completion of the sale, the vice president now owns 6,533 shares in the company, valued at approximately $9,553,336.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey A. Wilke sold 250 shares of the stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $1,549.90, for a total transaction of $387,475.00. Following the completion of the sale, the chief executive officer now owns 10,000 shares of the company’s stock, valued at approximately $15,499,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,714 shares of company stock valued at $8,462,195. Insiders own 17.00% of the company’s stock.
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Amazon.com, Inc offers a range of products and services through its Websites. The Company operates through three segments: North America, International and Amazon Web Services (AWS). The Company’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers.
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