Oppenheimer Asset Management Inc. Grows Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Oppenheimer Asset Management Inc. boosted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 10.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 946,852 shares of the e-commerce giant’s stock after buying an additional 91,395 shares during the period. Amazon.com makes up approximately 2.3% of Oppenheimer Asset Management Inc.’s holdings, making the stock its 2nd largest holding. Oppenheimer Asset Management Inc.’s holdings in Amazon.com were worth $182,979,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in AMZN. Garrison Point Advisors LLC raised its stake in shares of Amazon.com by 0.3% in the first quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock worth $3,675,000 after purchasing an additional 55 shares during the last quarter. Meridian Investment Counsel Inc. lifted its position in shares of Amazon.com by 1.8% in the second quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock valued at $594,000 after acquiring an additional 55 shares in the last quarter. Ridgecrest Wealth Partners LLC lifted its stake in shares of Amazon.com by 0.7% in the first quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock worth $1,399,000 after buying an additional 56 shares in the last quarter. Stordahl Capital Management Inc. boosted its position in shares of Amazon.com by 2.1% during the 1st quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock valued at $498,000 after acquiring an additional 56 shares during the last quarter. Finally, Lutz Financial Services LLC raised its position in Amazon.com by 1.9% in the first quarter. Lutz Financial Services LLC now owns 3,053 shares of the e-commerce giant’s stock valued at $551,000 after purchasing an additional 57 shares during the period. 72.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Amazon.com

In other news, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total value of $3,757,123.68. Following the transaction, the chief executive officer now owns 2,056,534 shares in the company, valued at $371,759,651.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the sale, the senior vice president now owns 62,420 shares of the company’s stock, valued at $12,171,900. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,355 shares of company stock valued at $9,877,423. 10.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AMZN has been the topic of a number of research reports. JPMorgan Chase & Co. reduced their target price on shares of Amazon.com from $240.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Morgan Stanley reiterated an “overweight” rating and issued a $210.00 price objective on shares of Amazon.com in a research report on Thursday, October 3rd. Itau BBA Securities cut Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 price target on the stock. in a report on Friday, August 2nd. Piper Sandler cut their price target on Amazon.com from $220.00 to $215.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, Pivotal Research assumed coverage on Amazon.com in a report on Friday. They issued a “buy” rating and a $260.00 price target for the company. Two analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $224.00.

Amazon.com Stock Performance

Shares of NASDAQ AMZN opened at $187.54 on Tuesday. The company has a market cap of $1.95 trillion, a PE ratio of 52.53, a P/E/G ratio of 1.38 and a beta of 1.14. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. Amazon.com, Inc. has a 12-month low of $118.35 and a 12-month high of $201.20. The stock has a 50 day simple moving average of $180.11 and a 200-day simple moving average of $183.24.

Amazon.com (NASDAQ:AMZN) last released 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 return on equity of 21.39% and a net margin of 7.35%. The firm had revenue of $147.98 billion for the quarter, compared to analyst estimates of $148.63 billion. On average, equities research analysts forecast that Amazon.com, Inc. will post 4.85 EPS for the current year.

Amazon.com 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.