Coastwise Capital Group LLC Grows Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Coastwise Capital Group LLC lifted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 25,355 shares of the e-commerce giant’s stock after acquiring an additional 773 shares during the period. Amazon.com accounts for about 3.9% of Coastwise Capital Group LLC’s investment portfolio, making the stock its 3rd biggest holding. Coastwise Capital Group LLC’s holdings in Amazon.com were worth $4,724,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in AMZN. Icon Wealth Advisors LLC boosted its position 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 purchasing an additional 25,581 shares in the last quarter. PayPay Securities Corp boosted its position 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 purchasing an additional 64 shares in the last quarter. Hoese & Co LLP bought a new stake in shares of Amazon.com during the third quarter valued at approximately $37,000. Bull Oak Capital LLC bought a new stake in shares of Amazon.com during the third quarter valued at approximately $45,000. Finally, Values First Advisors Inc. bought a new stake in shares of Amazon.com during the third quarter valued at approximately $56,000. 72.20% of the stock is currently owned by institutional investors.

Insider Transactions at Amazon.com

In related news, insider Jeffrey P. Bezos sold 2,996,362 shares of the 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 completion of the transaction, the insider now directly owns 917,416,976 shares of the company’s stock, valued at approximately $191,602,535,437.60. This represents a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew S. Garman sold 15,260 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $200.19, for a total value of $3,054,899.40. Following the transaction, the chief executive officer now directly owns 349,261 shares of the company’s stock, valued at approximately $69,918,559.59. The trade was a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,032,344 shares of company stock valued at $1,253,456,822 over the last 90 days. Company insiders own 10.80% of the company’s stock.

Wall Street Analyst Weigh In

AMZN has been the topic of several analyst reports. Pivotal Research initiated coverage on Amazon.com in a report on Friday, October 11th. They issued a “buy” rating and a $260.00 target price on the stock. Robert W. Baird boosted their target price on Amazon.com from $220.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. TD Cowen boosted their target price on Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Truist Financial boosted their target price on Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, UBS Group boosted their target price on Amazon.com from $230.00 to $264.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Two analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.67.

Amazon.com Stock Performance

NASDAQ AMZN opened at $218.94 on Friday. The firm has a market cap of $2.30 trillion, a price-to-earnings ratio of 46.88, a price-to-earnings-growth 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. The business has a 50-day moving average price of $216.20 and a 200-day moving average price of $195.34. Amazon.com, Inc. has a twelve month low of $149.91 and a twelve month high of $233.00.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The firm had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.85 earnings per share. As a group, equities research analysts predict 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.