MBL Wealth LLC Makes New Investment in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by MarketBeat News on Aug 3rd, 2022

MBL Wealth LLC acquired a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 768 shares of the e-commerce giant’s stock, valued at approximately $2,504,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AMZN. Stuart Chaussee & Associates Inc. acquired a new stake in Amazon.com in the fourth quarter valued at about $27,000. Gibson Wealth Advisors LLC acquired a new stake in Amazon.com in the fourth quarter valued at about $33,000. Leverty Financial Group LLC acquired a new stake in Amazon.com in the fourth quarter valued at about $36,000. MBM Wealth Consultants LLC lifted its position in Amazon.com by 57.1% in the fourth quarter. MBM Wealth Consultants LLC now owns 11 shares of the e-commerce giant’s stock valued at $37,000 after purchasing an additional 4 shares during the period. Finally, William Allan LLC acquired a new stake in Amazon.com in the fourth quarter valued at about $47,000. Hedge funds and other institutional investors own 72.51% of the company’s stock.

Insider Activity

In other news, VP Shelley Reynolds sold 173 shares of the stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $2,169.22, for a total value of $375,275.06. Following the completion of the transaction, the vice president now directly owns 5,989 shares in the company, valued at $12,991,458.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Shelley Reynolds sold 173 shares of the stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $2,169.22, for a total value of $375,275.06. Following the completion of the transaction, the vice president now directly owns 5,989 shares in the company, valued at $12,991,458.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew R. Jassy sold 1,181 shares of the stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $2,262.00, for a total transaction of $2,671,422.00. Following the completion of the transaction, the chief executive officer now owns 92,781 shares of the company’s stock, valued at $209,870,622. The disclosure for this sale can be found here. Insiders sold 4,803 shares of company stock worth $10,528,337 over the last three months. Corporate insiders own 12.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Rosenblatt Securities lifted their price target on shares of Amazon.com to $118.00 and gave the company a “neutral” rating in a research report on Friday, July 29th. BMO Capital Markets reduced their price target on shares of Amazon.com from $182.50 to $172.50 in a research report on Friday, April 29th. Benchmark cut their price objective on Amazon.com from $200.00 to $185.00 in a research report on Friday, April 29th. Piper Sandler lifted their price objective on Amazon.com from $170.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, July 29th. Finally, Loop Capital cut their price objective on Amazon.com from $187.50 to $141.25 and set a “buy” rating for the company in a research report on Friday, May 27th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and thirty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $179.45.

Amazon.com Price Performance

NASDAQ AMZN opened at $134.16 on Wednesday. Amazon.com, Inc. has a 52 week low of $101.26 and a 52 week high of $188.11. The company has a current ratio of 0.95, a quick ratio of 0.68 and a debt-to-equity ratio of 0.44. The stock has a market cap of $1.36 trillion, a price-to-earnings ratio of 120.27, a price-to-earnings-growth ratio of 5.15 and a beta of 1.33. The company has a 50-day moving average price of $115.29 and a two-hundred day moving average price of $134.71.

Amazon.com (NASDAQ:AMZN – Get Rating) last posted its earnings results on Thursday, July 28th. The e-commerce giant reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.35). Amazon.com had a return on equity of 15.79% and a net margin of 2.39%. The firm had revenue of $121.23 billion during the quarter, compared to the consensus estimate of $119.16 billion. During the same quarter last year, the company posted $0.76 EPS. Amazon.com’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts forecast that Amazon.com, Inc. will post 1.12 EPS for the current year.

About Amazon.com

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Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It sells merchandise and content purchased for resale from third-party sellers through physical and online stores.