Asset Management Group Inc. Increases Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Asset Management Group Inc. increased its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 40,648 shares of the e-commerce giant’s stock after acquiring an additional 764 shares during the quarter. Amazon.com makes up about 1.5% of Asset Management Group Inc.’s investment portfolio, making the stock its 23rd largest position. Asset Management Group Inc.’s holdings in Amazon.com were worth $7,855,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Phillips Wealth Planners LLC increased its stake in Amazon.com by 9.2% during the first quarter. Phillips Wealth Planners LLC now owns 2,655 shares of the e-commerce giant’s stock worth $487,000 after acquiring an additional 224 shares during the last quarter. Stonekeep Investments LLC acquired a new stake in Amazon.com during the second quarter worth $2,588,000. Concord Investment Counsel Inc. acquired a new stake in Amazon.com during the first quarter worth $20,790,000. O Shaughnessy Asset Management LLC increased its stake in Amazon.com by 26.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 644,319 shares of the e-commerce giant’s stock worth $116,222,000 after acquiring an additional 133,471 shares during the last quarter. Finally, Eos Management L.P. increased its stake in Amazon.com by 27.1% during the second quarter. Eos Management L.P. now owns 47,554 shares of the e-commerce giant’s stock worth $9,190,000 after acquiring an additional 10,147 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Sanford C. Bernstein raised their target price on Amazon.com from $210.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Roth Mkm raised their target price on Amazon.com from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Amazon.com in a research note on Thursday, September 12th. Truist Financial lifted their price objective on Amazon.com from $230.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, Scotiabank began coverage on Amazon.com in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $245.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Amazon.com has an average rating of “Moderate Buy” and a consensus target price of $236.78.

Insider Activity

In other news, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the sale, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the sale, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were 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 of the company’s stock, valued at $95,335,255.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 54,355 shares of company stock valued at $9,877,423. Insiders own 10.80% of the company’s stock.

Amazon.com Stock Up 0.0 %

Amazon.com stock opened at $189.07 on Tuesday. Amazon.com, Inc. has a fifty-two week low of $118.35 and a fifty-two week high of $201.20. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. The company has a market capitalization of $1.97 trillion, a P/E ratio of 52.96, a PEG ratio of 1.38 and a beta of 1.14. The stock has a 50-day simple moving average of $182.43 and a 200-day simple moving average of $183.50.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.18. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. The business had revenue of $147.98 billion during the quarter, compared to the consensus estimate of $148.63 billion. Equities research analysts expect that Amazon.com, Inc. will post 4.85 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.