Cahaba Wealth Management Inc. Raises Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Cahaba Wealth Management Inc. grew its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 4.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,219 shares of the e-commerce giant’s stock after buying an additional 532 shares during the period. Cahaba Wealth Management Inc.’s holdings in Amazon.com were worth $2,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. China Universal Asset Management Co. Ltd. boosted its stake in shares of Amazon.com by 31.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 182,359 shares of the e-commerce giant’s stock valued at $32,894,000 after purchasing an additional 43,759 shares during the period. Quent Capital LLC lifted its position in Amazon.com by 3.3% during the first quarter. Quent Capital LLC now owns 33,729 shares of the e-commerce giant’s stock valued at $6,084,000 after acquiring an additional 1,081 shares during the last quarter. Salomon & Ludwin LLC grew its stake in Amazon.com by 5.8% during the 1st quarter. Salomon & Ludwin LLC now owns 16,563 shares of the e-commerce giant’s stock worth $2,988,000 after buying an additional 901 shares during the last quarter. Smart Money Group LLC grew its position in Amazon.com by 28.6% during the 1st quarter. Smart Money Group LLC now owns 5,754 shares of the e-commerce giant’s stock worth $1,007,000 after purchasing an additional 1,279 shares during the last quarter. Finally, Paradigm Strategies in Wealth Management LLC lifted its position in Amazon.com by 19.9% during the 1st quarter. Paradigm Strategies in Wealth Management LLC now owns 3,173 shares of the e-commerce giant’s stock worth $572,000 after acquiring an additional 527 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Buying and Selling

In other news, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the transaction, the director now directly owns 24,912 shares in the company, valued at approximately $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. 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 5,502 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $205.81, for a total value of $1,132,366.62. Following the transaction, the chief executive officer now directly owns 518,911 shares in the company, valued at approximately $106,797,072.91. The trade was a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,011,423 shares of company stock worth $1,249,093,896. Corporate insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AMZN shares. Morgan Stanley upped their target price on Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Barclays raised their price target on Amazon.com from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Rosenblatt Securities boosted their target price on Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Roth Mkm raised their price target on Amazon.com from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Jefferies Financial Group upped their price objective on shares of Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Amazon.com has an average rating of “Moderate Buy” and an average target price of $235.45.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $204.61 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The business has a fifty day simple moving average of $192.19 and a two-hundred day simple moving average of $186.06. Amazon.com, Inc. has a 12 month low of $141.50 and a 12 month high of $215.90. The firm has a market capitalization of $2.15 trillion, a P/E ratio of 43.81, a P/E/G ratio of 1.36 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The company had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. During the same quarter in the prior year, the company earned $0.85 earnings per share. Amazon.com’s revenue was up 11.0% on a year-over-year basis. On average, equities analysts forecast that Amazon.com, Inc. will post 5.27 earnings per share for the current fiscal year.

About Amazon.com

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.