Amazon.com, Inc. (NASDAQ:AMZN) Stake Increased by Elite Wealth Management Inc.

Elite Wealth Management Inc. grew its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 226,692 shares of the e-commerce giant’s stock after buying an additional 3,931 shares during the period. Amazon.com accounts for approximately 5.8% of Elite Wealth Management Inc.’s portfolio, making the stock its 4th largest holding. Elite Wealth Management Inc.’s holdings in Amazon.com were worth $42,240,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Legal & General Group Plc increased its position in shares of Amazon.com by 1.5% in the second quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock worth $13,466,933,000 after purchasing an additional 1,042,177 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Amazon.com by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock valued at $13,091,909,000 after buying an additional 289,532 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Amazon.com by 3.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,833,954 shares of the e-commerce giant’s stock worth $10,776,201,000 after purchasing an additional 1,984,592 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Amazon.com by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 57,308,094 shares of the e-commerce giant’s stock worth $10,678,217,000 after purchasing an additional 1,980,663 shares during the period. Finally, Fisher Asset Management LLC raised its position in Amazon.com by 2.0% during the 3rd quarter. Fisher Asset Management LLC now owns 44,653,571 shares of the e-commerce giant’s stock valued at $8,320,300,000 after purchasing an additional 873,174 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Bank of America lifted their price objective on Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Benchmark upped their price target on Amazon.com from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Pivotal Research assumed coverage on shares of Amazon.com in a report on Friday, October 11th. They set a “buy” rating and a $260.00 target price on the stock. UBS Group lifted their price target on shares of Amazon.com from $230.00 to $264.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $236.00 price objective on shares of Amazon.com in a report on Tuesday, December 3rd. Two analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.67.

Insiders Place Their Bets

In other news, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the sale, the director now directly owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This represents a 4.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan Rubinstein sold 5,004 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the completion of the transaction, the director now directly owns 99,396 shares of the company’s stock, valued at approximately $19,864,290.60. This trade represents a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,032,344 shares of company stock worth $1,253,456,822 in the last 90 days. 10.80% of the stock is currently owned by corporate insiders.

Amazon.com Price Performance

NASDAQ:AMZN opened at $222.11 on Wednesday. The business’s 50-day simple moving average is $214.48 and its two-hundred day simple moving average is $194.73. Amazon.com, Inc. has a 52 week low of $146.15 and a 52 week high of $233.00. The stock has a market cap of $2.34 trillion, a PE ratio of 47.56, a P/E/G ratio of 1.54 and a beta of 1.14. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (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 company had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. During the same quarter last year, the company earned $0.85 EPS. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, analysts forecast that Amazon.com, Inc. will post 5.29 EPS for the current fiscal 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.