Amazon.com, Inc. (NASDAQ:AMZN) Shares Bought by Echo Wealth Management LLC

Echo Wealth Management LLC grew its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 17.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,953 shares of the e-commerce giant’s stock after purchasing an additional 1,461 shares during the period. Amazon.com makes up approximately 1.3% of Echo Wealth Management LLC’s investment portfolio, making the stock its 19th largest holding. Echo Wealth Management LLC’s holdings in Amazon.com were worth $1,843,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. PayPay Securities Corp increased its stake in shares of Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after acquiring an additional 64 shares during the period. Hoese & Co LLP bought a new position in Amazon.com during the 3rd quarter valued at $37,000. Christopher J. Hasenberg Inc increased its position in shares of Amazon.com by 650.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after purchasing an additional 260 shares during the period. Koesten Hirschmann & Crabtree INC. bought a new stake in shares of Amazon.com in the 1st quarter worth $69,000. Finally, Innealta Capital LLC acquired a new stake in shares of Amazon.com in the second quarter valued at $77,000. 72.20% of the stock is currently owned by institutional investors.

Amazon.com Stock Down 2.1 %

Shares of Amazon.com stock opened at $198.70 on Friday. Amazon.com, Inc. has a 12-month low of $142.81 and a 12-month high of $215.90. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average price of $192.79 and a two-hundred day moving average price of $186.26. The stock has a market capitalization of $2.09 trillion, a P/E ratio of 42.55, a PEG ratio of 1.37 and a beta of 1.14.

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

Insider Activity

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,996,362 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $208.85, for a total value of $625,790,203.70. Following the transaction, the insider now owns 917,416,976 shares of the company’s stock, valued at approximately $191,602,535,437.60. The trade was a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the sale, the director now owns 24,912 shares in the company, valued at $4,958,982.72. The trade was a 4.73 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,011,423 shares of company stock worth $1,249,093,896. Company insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on AMZN. Itau BBA Securities cut shares of Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 price target on the stock. in a research report on Friday, August 2nd. Rosenblatt Securities increased their target price on shares of Amazon.com from $221.00 to $236.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Robert W. Baird lifted their price target on shares of Amazon.com from $213.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Wedbush increased their price objective on Amazon.com from $225.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Barclays lifted 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. Two research analysts have rated the stock with a hold rating, forty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $235.77.

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.