Benjamin Edwards Inc. Raises Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Benjamin Edwards Inc. grew its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 460.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 236,294 shares of the e-commerce giant’s stock after purchasing an additional 194,151 shares during the quarter. Benjamin Edwards Inc.’s holdings in Amazon.com were worth $44,028,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Icon Wealth Advisors LLC raised its holdings in shares of Amazon.com by 20.5% during the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after acquiring an additional 25,581 shares in the last quarter. PayPay Securities Corp raised its holdings in Amazon.com by 64.6% in the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares in the last quarter. Hoese & Co LLP bought a new position in Amazon.com in the third quarter worth $37,000. Bull Oak Capital LLC bought a new position in Amazon.com in the third quarter worth $45,000. Finally, Values First Advisors Inc. bought a new position in Amazon.com in the third quarter worth $56,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on AMZN shares. Morgan Stanley increased their price objective on Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased their price objective on Amazon.com from $225.00 to $232.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Roth Mkm increased their target price on Amazon.com from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Telsey Advisory Group increased their target price on Amazon.com from $215.00 to $235.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Piper Sandler increased their target price on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $243.67.

Insider Transactions at Amazon.com

In related news, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the sale, the insider now owns 917,416,976 shares of the company’s stock, valued at approximately $191,602,535,437.60. This trade represents a 0.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonathan Rubinstein sold 5,004 shares of Amazon.com stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $199.85, for a total value of $1,000,049.40. Following the sale, the director now directly owns 99,396 shares in the company, valued at $19,864,290.60. This trade represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,032,344 shares of company stock valued at $1,253,456,822 over the last quarter. 10.80% of the stock is currently owned by company insiders.

Amazon.com Stock Down 1.4 %

NASDAQ AMZN opened at $218.94 on Friday. The stock’s 50-day moving average price is $216.20 and its 200-day moving average price is $195.34. 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, Inc. has a 52 week low of $149.91 and a 52 week high of $233.00. The company has a market capitalization of $2.30 trillion, a P/E ratio of 46.88, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $157.28 billion. During the same quarter last year, the company earned $0.85 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, equities research analysts predict that Amazon.com, Inc. will post 5.29 earnings per share for the current 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.