Paladin Wealth LLC Increases Position in Amazon.com, Inc. (NASDAQ:AMZN)

Paladin Wealth LLC raised its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 7.0% in the first quarter, HoldingsChannel reports. The firm owned 16,452 shares of the e-commerce giant’s stock after acquiring an additional 1,071 shares during the period. Amazon.com comprises about 2.8% of Paladin Wealth LLC’s investment portfolio, making the stock its 3rd largest holding. Paladin Wealth LLC’s holdings in Amazon.com were worth $3,130,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in AMZN. Castlekeep Investment Advisors LLC bought a new stake in shares of Amazon.com in the 4th quarter valued at about $25,000. Accordant Advisory Group Inc lifted its position in shares of Amazon.com by 400.0% in the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock worth $27,000 after purchasing an additional 100 shares during the period. Prudent Man Investment Management Inc. purchased a new stake in shares of Amazon.com in the 4th quarter worth approximately $27,000. LSV Asset Management purchased a new stake in shares of Amazon.com in the 4th quarter worth approximately $35,000. Finally, Perritt Capital Management Inc lifted its position in shares of Amazon.com by 72.7% in the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock worth $42,000 after purchasing an additional 80 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Stock Performance

Shares of NASDAQ AMZN opened at $212.10 on Friday. The company’s fifty day moving average price is $195.47 and its 200 day moving average price is $209.16. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The company has a market capitalization of $2.25 trillion, a PE ratio of 38.35, a price-to-earnings-growth ratio of 1.50 and a beta of 1.33. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.21. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. The firm had revenue of $155.67 billion for the quarter, compared to the consensus estimate of $154.96 billion. During the same period in the prior year, the firm posted $0.98 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, research analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada lowered their price target on shares of Amazon.com from $235.00 to $230.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Citigroup reaffirmed a “buy” rating on shares of Amazon.com in a research report on Monday, June 2nd. UBS Group reaffirmed a “buy” rating on shares of Amazon.com in a research report on Tuesday, May 6th. Oppenheimer lowered their price target on shares of Amazon.com from $260.00 to $220.00 and set an “outperform” rating for the company in a research report on Monday, April 28th. Finally, JPMorgan Chase & Co. upped their price target on shares of Amazon.com from $225.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 4th. Four investment analysts have rated the stock with a hold rating and forty-four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $244.89.

Insider Buying and Selling

In other Amazon.com news, CEO Andrew R. Jassy sold 19,872 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total transaction of $4,000,233.60. Following the transaction, the chief executive officer now directly owns 2,148,694 shares of the company’s stock, valued at $432,532,102.20. This trade represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $204.98, for a total transaction of $512,450.00. Following the transaction, the chief executive officer now directly owns 517,050 shares in the company, valued at approximately $105,984,909. The trade was a 0.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 102,037 shares of company stock valued at $20,531,075. 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.