Red Door Wealth Management LLC Has $5.46 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)
Red Door Wealth Management LLC reduced its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,724 shares of the e-commerce giant’s stock after selling 23 shares during the period. Amazon.com comprises 4.0% of Red Door Wealth Management LLC’s portfolio, making the stock its 3rd largest holding. Red Door Wealth Management LLC’s holdings in Amazon.com were worth $5,456,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Inspirion Wealth Advisors LLC grew its holdings in Amazon.com by 0.8% during the third quarter. Inspirion Wealth Advisors LLC now owns 399 shares of the e-commerce giant’s stock valued at $1,256,000 after purchasing an additional 3 shares during the period. Schneider Downs Wealth Management Advisors LP raised its stake in shares of Amazon.com by 29.6% in the third quarter. Schneider Downs Wealth Management Advisors LP now owns 197 shares of the e-commerce giant’s stock worth $620,000 after buying an additional 45 shares during the period. Aprio Wealth Management LLC purchased a new position in shares of Amazon.com during the 3rd quarter valued at about $324,000. Strategic Investment Advisors MI grew its stake in shares of Amazon.com by 13.9% during the 3rd quarter. Strategic Investment Advisors MI now owns 501 shares of the e-commerce giant’s stock valued at $1,603,000 after acquiring an additional 61 shares during the period. Finally, San Francisco Sentry Investment Group CA increased its holdings in Amazon.com by 2.5% in the 3rd quarter. San Francisco Sentry Investment Group CA now owns 2,901 shares of the e-commerce giant’s stock worth $9,135,000 after acquiring an additional 70 shares in the last quarter. Institutional investors and hedge funds own 57.32% of the company’s stock.
A number of research firms have weighed in on AMZN. Cowen upped their price target on shares of Amazon.com from $2,750.00 to $3,700.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Telsey Advisory Group lifted their target price on shares of Amazon.com from $3,600.00 to $4,000.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Amazon.com in a research note on Wednesday, October 7th. Societe Generale boosted their price objective on Amazon.com from $2,730.00 to $3,660.00 and gave the company a “buy” rating in a research report on Friday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Amazon.com from $3,333.00 to $4,000.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and forty-nine have given a buy rating to the stock. Amazon.com has a consensus rating of “Buy” and a consensus target price of $3,438.90.
Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, July 30th. The e-commerce giant reported $10.30 EPS for the quarter, beating the consensus estimate of $1.74 by $8.56. The firm had revenue of $88.91 billion for the quarter, compared to analyst estimates of $81.56 billion. Amazon.com had a return on equity of 20.47% and a net margin of 4.10%. On average, research analysts expect that Amazon.com, Inc. will post 31.61 earnings per share for the current year.
In related news, Director Indra K. Nooyi purchased 8 shares of Amazon.com stock in a transaction dated Thursday, October 1st. The stock was purchased at an average cost of $3,208.60 per share, with a total value of $25,668.80. Following the transaction, the director now owns 826 shares in the company, valued at approximately $2,650,303.60. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jeffrey A. Wilke sold 750 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $3,304.28, for a total value of $2,478,210.00. Following the sale, the chief executive officer now owns 10,000 shares of the company’s stock, valued at $33,042,800. The disclosure for this sale can be found here. Insiders have sold a total of 102,815 shares of company stock worth $324,095,003 in the last three months. Insiders own 16.10% of the company’s stock.
Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS) segments. It sells merchandise and content purchased for resale from third-party sellers through physical stores and online stores.
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