LVZ Inc. Raises Position in Amazon.com, Inc. (NASDAQ:AMZN)

LVZ Inc. grew its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,970 shares of the e-commerce giant’s stock after purchasing an additional 88 shares during the quarter. Amazon.com makes up about 0.3% of LVZ Inc.’s investment portfolio, making the stock its 25th biggest position. LVZ Inc.’s holdings in Amazon.com were worth $2,506,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in AMZN. Cooksen Wealth LLC purchased a new position in shares of Amazon.com in the 4th quarter worth $30,000. Clarity Asset Management Inc. purchased a new position in shares of Amazon.com in the 4th quarter worth $46,000. Steph & Co. purchased a new position in shares of Amazon.com in the 1st quarter worth $65,000. Advantage Trust Co purchased a new position in shares of Amazon.com in the 4th quarter worth $68,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in shares of Amazon.com in the 1st quarter worth $69,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Brian T. Olsavsky sold 14,600 shares of Amazon.com stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the sale, the chief financial officer now owns 49,000 shares of the company’s stock, valued at $8,820,000. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the sale, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brian T. Olsavsky sold 14,600 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total value of $2,628,000.00. Following the sale, the chief financial officer now directly owns 49,000 shares in the company, valued at approximately $8,820,000. The disclosure for this sale can be found here. Insiders have sold 6,104,317 shares of company stock valued at $1,220,621,322 over the last quarter. Insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on AMZN. Piper Sandler cut their target price on Amazon.com from $220.00 to $215.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Tigress Financial increased their target price on Amazon.com from $210.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Benchmark reissued a “buy” rating and issued a $200.00 price objective on shares of Amazon.com in a research report on Friday, August 2nd. Needham & Company LLC reissued a “buy” rating and issued a $210.00 price objective on shares of Amazon.com in a research report on Thursday. Finally, Barclays raised their price objective on Amazon.com from $220.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, forty have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $222.49.

Amazon.com Stock Performance

Shares of NASDAQ AMZN opened at $187.00 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The firm’s 50-day moving average price is $179.78 and its two-hundred day moving average price is $181.48. Amazon.com, Inc. has a 52-week low of $118.35 and a 52-week high of $201.20. The stock has a market capitalization of $1.95 trillion, a P/E ratio of 52.38, a P/E/G ratio of 1.29 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The firm had revenue of $147.98 billion for the quarter, compared to analysts’ expectations of $148.63 billion. As a group, sell-side analysts forecast that Amazon.com, Inc. will post 4.86 earnings per share for the current 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.