Amazon.com, Inc. $AMZN Stock Position Increased by Parcion Private Wealth LLC

Parcion Private Wealth LLC raised its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 7.5% in the third quarter, HoldingsChannel reports. The firm owned 73,457 shares of the e-commerce giant’s stock after acquiring an additional 5,110 shares during the period. Amazon.com makes up 1.0% of Parcion Private Wealth LLC’s investment portfolio, making the stock its 24th largest position. Parcion Private Wealth LLC’s holdings in Amazon.com were worth $16,129,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC increased its position in Amazon.com by 542,733.6% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 132,641,388 shares of the e-commerce giant’s stock valued at $29,100,194,000 after acquiring an additional 132,616,953 shares during the period. Norges Bank acquired a new position in Amazon.com during the 2nd quarter worth $27,438,011,000. Nuveen LLC bought a new position in shares of Amazon.com in the first quarter worth $11,674,091,000. Vanguard Group Inc. increased its holdings in shares of Amazon.com by 2.1% during the second quarter. Vanguard Group Inc. now owns 849,721,601 shares of the e-commerce giant’s stock valued at $186,420,422,000 after purchasing an additional 17,447,045 shares during the period. Finally, Laurel Wealth Advisors LLC raised its stake in shares of Amazon.com by 22,085.8% during the second quarter. Laurel Wealth Advisors LLC now owns 12,177,557 shares of the e-commerce giant’s stock valued at $2,671,634,000 after purchasing an additional 12,122,668 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

Key Headlines Impacting Amazon.com

Here are the key news stories impacting Amazon.com this week:

Wall Street Analysts Forecast Growth

AMZN has been the subject of a number of recent analyst reports. Telsey Advisory Group increased their target price on shares of Amazon.com from $265.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Morgan Stanley reiterated an “overweight” rating and issued a $315.00 price objective (up from $300.00) on shares of Amazon.com in a report on Friday, October 31st. Guggenheim upgraded shares of Amazon.com to a “strong-buy” rating in a research note on Wednesday, December 10th. Evercore ISI upped their target price on Amazon.com from $280.00 to $335.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Finally, Canaccord Genuity Group set a $300.00 price target on Amazon.com and gave the company a “buy” rating in a research note on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, fifty-six have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $295.50.

Check Out Our Latest Stock Analysis on AMZN

Amazon.com Stock Performance

Shares of NASDAQ AMZN opened at $232.52 on Monday. The stock’s fifty day simple moving average is $231.09 and its 200 day simple moving average is $226.27. The stock has a market capitalization of $2.49 trillion, a price-to-earnings ratio of 32.84, a PEG ratio of 1.60 and a beta of 1.37. The company has a quick ratio of 0.80, a current ratio of 1.01 and a debt-to-equity ratio of 0.14. Amazon.com, Inc. has a 52-week low of $161.38 and a 52-week high of $258.60.

Amazon.com (NASDAQ:AMZNGet Free Report) last announced its earnings results on Thursday, October 30th. The e-commerce giant reported $1.95 EPS for the quarter, beating the consensus estimate of $1.57 by $0.38. The business had revenue of $180.17 billion during the quarter, compared to the consensus estimate of $177.53 billion. Amazon.com had a return on equity of 23.62% and a net margin of 11.06%.Amazon.com’s revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.43 earnings per share. As a group, sell-side analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Matthew S. Garman sold 17,768 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $216.90, for a total transaction of $3,853,879.20. Following the sale, the chief executive officer owned 6,273 shares in the company, valued at $1,360,613.70. The trade was a 73.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan Rubinstein sold 8,173 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $250.03, for a total transaction of $2,043,495.19. Following the completion of the sale, the director owned 80,030 shares of the company’s stock, valued at approximately $20,009,900.90. This trade represents a 9.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 82,234 shares of company stock valued at $19,076,767 over the last 90 days. 10.80% of the stock is owned by corporate insiders.

Amazon.com Profile

(Free Report)

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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