Diversify Wealth Management LLC Takes $13.59 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Diversify Wealth Management LLC purchased a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 70,305 shares of the e-commerce giant’s stock, valued at approximately $13,586,000. Amazon.com makes up approximately 1.6% of Diversify Wealth Management LLC’s portfolio, making the stock its 10th largest position.

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

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $187.54 on Tuesday. The business’s 50 day moving average price is $180.11 and its two-hundred day moving average price is $183.24. The company has a market cap of $1.95 trillion, a PE ratio of 52.53, a price-to-earnings-growth ratio of 1.38 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. Amazon.com, Inc. has a twelve month low of $118.35 and a twelve month high of $201.20.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. The firm had revenue of $147.98 billion for the quarter, compared to the consensus estimate of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. On average, analysts predict that Amazon.com, Inc. will post 4.85 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $189.25, for a total transaction of $662,375.00. Following the completion of the sale, the chief executive officer now owns 503,753 shares in the company, valued at $95,335,255.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $189.25, for a total value of $662,375.00. Following the completion of the sale, the chief executive officer now directly owns 503,753 shares in the company, valued at approximately $95,335,255.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Shelley Reynolds sold 3,791 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total value of $686,322.64. Following the completion of the sale, the vice president now owns 121,461 shares of the company’s stock, valued at approximately $21,989,299.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,355 shares of company stock valued at $9,877,423 over the last 90 days. 10.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Barclays increased their target price on Amazon.com from $220.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Telsey Advisory Group reaffirmed an “outperform” rating and set a $215.00 price target on shares of Amazon.com in a report on Thursday, October 10th. Wedbush reissued an “outperform” rating and issued a $225.00 target price on shares of Amazon.com in a research note on Friday, August 2nd. JPMorgan Chase & Co. reduced their price target on Amazon.com from $240.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, Evercore ISI restated an “outperform” rating and issued a $240.00 price target on shares of Amazon.com in a research report on Friday. Two investment analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Amazon.com currently has an average rating of “Moderate Buy” and a consensus price target of $224.00.

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.