Investment Insight Wealth Management LLC Purchases New Stake in Amazon.com, Inc. $AMZN

Investment Insight Wealth Management LLC acquired a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 8,017 shares of the e-commerce giant’s stock, valued at approximately $1,850,000. Amazon.com accounts for approximately 1.8% of Investment Insight Wealth Management LLC’s portfolio, making the stock its 12th largest position.

Several other large investors have also recently bought and sold shares of AMZN. Norges Bank acquired a new stake in shares of Amazon.com in the fourth quarter valued at about $32,868,735,000. J. Stern & Co. LLP increased its holdings in Amazon.com by 20,598.0% in the fourth quarter. J. Stern & Co. LLP now owns 87,982,814 shares of the e-commerce giant’s stock valued at $20,308,193,000 after buying an additional 87,557,736 shares in the last quarter. Nuveen LLC purchased a new position in Amazon.com in the first quarter valued at about $11,674,091,000. Cardano Risk Management B.V. lifted its position in shares of Amazon.com by 879.4% during the 4th quarter. Cardano Risk Management B.V. now owns 27,862,400 shares of the e-commerce giant’s stock valued at $6,431,199,000 after acquiring an additional 25,017,588 shares during the period. Finally, Laurel Wealth Advisors LLC lifted its position in shares of Amazon.com by 22,085.8% during the 2nd 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 acquiring an additional 12,122,668 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $244.39 on Friday. Amazon.com, Inc. has a 1 year low of $196.00 and a 1 year high of $278.56. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.01. The business has a 50 day moving average price of $256.51 and a 200 day moving average price of $234.12. The company has a market capitalization of $2.63 trillion, a P/E ratio of 29.23, a P/E/G ratio of 1.83 and a beta of 1.44.

Amazon.com (NASDAQ:AMZNGet Free Report) last announced its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $1.15. The firm had revenue of $181.52 billion for the quarter, compared to analysts’ expectations of $177.28 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.Amazon.com’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.59 EPS. Sell-side analysts anticipate that Amazon.com, Inc. will post 7.71 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on AMZN. Wells Fargo & Company set a $312.00 price target on Amazon.com and gave the stock an “overweight” rating in a report on Wednesday, May 20th. Susquehanna reaffirmed a “positive” rating and set a $325.00 price objective (up from $300.00) on shares of Amazon.com in a report on Thursday, April 30th. DA Davidson boosted their target price on Amazon.com from $175.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Piper Sandler set a $330.00 target price on Amazon.com in a report on Thursday, June 11th. Finally, KeyCorp raised their price target on Amazon.com from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Fifty-seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Amazon.com has an average rating of “Moderate Buy” and an average price target of $312.78.

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Insiders Place Their Bets

In related news, SVP David Zapolsky sold 9,270 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $268.53, for a total value of $2,489,273.10. Following the completion of the transaction, the senior vice president owned 41,190 shares of the company’s stock, valued at approximately $11,060,750.70. The trade was a 18.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Shelley Reynolds sold 2,363 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $262.38, for a total transaction of $620,003.94. Following the completion of the transaction, the vice president owned 119,780 shares in the company, valued at approximately $31,427,876.40. This trade represents a 1.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 195,774 shares of company stock valued at $51,614,434. Insiders own 8.90% of the company’s stock.

About Amazon.com

(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.

Further Reading

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

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