Crescent Sterling Ltd. Boosts Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Crescent Sterling Ltd. raised its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 46.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 4,840 shares of the e-commerce giant’s stock after buying an additional 1,538 shares during the period. Amazon.com comprises about 1.1% of Crescent Sterling Ltd.’s portfolio, making the stock its 28th largest holding. Crescent Sterling Ltd.’s holdings in Amazon.com were worth $1,062,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of the stock. PayPay Securities Corp raised its position in shares of 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 acquiring an additional 64 shares during the period. Hoese & Co LLP purchased a new position in shares of Amazon.com in the 3rd quarter valued at about $37,000. Bull Oak Capital LLC acquired a new position in Amazon.com in the 3rd quarter worth about $45,000. Values First Advisors Inc. purchased a new position in Amazon.com during the third quarter worth approximately $56,000. Finally, Abich Financial Wealth Management LLC grew its holdings in Amazon.com by 84.7% in the second quarter. Abich Financial Wealth Management LLC now owns 434 shares of the e-commerce giant’s stock valued at $84,000 after purchasing an additional 199 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Trading Up 2.1 %

AMZN opened at $230.71 on Wednesday. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $233.00. 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 fifty day simple moving average of $218.30 and a 200-day simple moving average of $196.47. The firm has a market cap of $2.43 trillion, a P/E ratio of 49.40, a P/E/G ratio of 1.26 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The company had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. Amazon.com’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the business posted $0.85 EPS. On average, equities analysts expect that Amazon.com, Inc. will post 5.39 earnings per share for the current year.

Insider Activity at Amazon.com

In other news, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction dated 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 completion of the transaction, the insider now owns 917,416,976 shares in the company, valued at approximately $191,602,535,437.60. This trade represents a 0.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Douglas J. Herrington sold 5,502 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $205.81, for a total transaction of $1,132,366.62. Following the sale, the chief executive officer now owns 518,911 shares in the company, valued at $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 quarter, insiders sold 6,032,344 shares of company stock worth $1,253,456,822. Corporate insiders own 10.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Scotiabank upped their target price on Amazon.com from $245.00 to $246.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 1st. Telsey Advisory Group increased their price objective on shares of Amazon.com from $215.00 to $235.00 and gave the company an “outperform” rating in a report on Friday, November 1st. TD Cowen lifted their target price on shares of Amazon.com from $240.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Truist Financial upped their price target on shares of Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Redburn Atlantic lifted their price objective on Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $246.85.

Amazon.com Company 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.