Deane Retirement Strategies Inc. Raises Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Deane Retirement Strategies Inc. raised its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 56.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,649 shares of the e-commerce giant’s stock after buying an additional 8,913 shares during the period. Amazon.com makes up approximately 2.2% of Deane Retirement Strategies Inc.’s holdings, making the stock its 16th largest holding. Deane Retirement Strategies Inc.’s holdings in Amazon.com were worth $4,693,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in AMZN. Castlekeep Investment Advisors LLC purchased a new position in Amazon.com in the fourth quarter valued at about $25,000. Prudent Man Investment Management Inc. purchased a new position in Amazon.com in the fourth quarter valued at about $27,000. LSV Asset Management purchased a new position in Amazon.com in the fourth quarter valued at about $35,000. Perritt Capital Management Inc increased its holdings in Amazon.com by 72.7% in the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock valued at $42,000 after buying an additional 80 shares in the last quarter. Finally, Quattro Financial Advisors LLC increased its holdings in Amazon.com by 23.8% in the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock valued at $51,000 after buying an additional 45 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Shelley Reynolds sold 2,695 shares of the business’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $200.79, for a total value of $541,129.05. Following the transaction, the vice president now owns 119,780 shares in the company, valued at approximately $24,050,626.20. The trade was a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Douglas J. Herrington sold 2,500 shares of the business’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $190.67, for a total value of $476,675.00. Following the completion of the transaction, the chief executive officer now owns 506,974 shares in the company, valued at approximately $96,664,732.58. This trade represents a 0.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 102,037 shares of company stock worth $20,531,075 over the last quarter. 10.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AMZN. Needham & Company LLC reaffirmed a “buy” rating and issued a $220.00 target price on shares of Amazon.com in a report on Friday, May 2nd. Truist Financial lowered their price target on shares of Amazon.com from $265.00 to $230.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Mizuho lowered their price target on shares of Amazon.com from $285.00 to $255.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Citigroup reiterated a “buy” rating on shares of Amazon.com in a research report on Monday, June 2nd. Finally, Jefferies Financial Group lowered their price target on shares of Amazon.com from $250.00 to $240.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Four investment analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $245.53.

Amazon.com Trading Down 1.3%

Shares of AMZN opened at $209.69 on Monday. The stock’s 50-day moving average is $198.41 and its two-hundred day moving average is $209.17. The stock has a market cap of $2.23 trillion, a PE ratio of 34.15, a P/E/G ratio of 1.58 and a beta of 1.34. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 0.84.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.21. The company had revenue of $155.67 billion for the quarter, compared to analysts’ expectations of $154.96 billion. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share. Equities analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal 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.