RBA Wealth Management LLC Increases Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

RBA Wealth Management LLC boosted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2,439.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,652 shares of the e-commerce giant’s stock after buying an additional 31,366 shares during the quarter. Amazon.com accounts for about 1.9% of RBA Wealth Management LLC’s holdings, making the stock its 23rd biggest holding. RBA Wealth Management LLC’s holdings in Amazon.com were worth $3,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp boosted its stake in Amazon.com by 1.5% during the first quarter. Fifth Third Bancorp now owns 177,679 shares of the e-commerce giant’s stock worth $579,225,000 after buying an additional 2,686 shares during the period. LRT Capital Management LLC purchased a new position in Amazon.com during the first quarter worth about $939,000. Van Hulzen Asset Management LLC boosted its stake in Amazon.com by 2.1% during the first quarter. Van Hulzen Asset Management LLC now owns 3,993 shares of the e-commerce giant’s stock worth $13,017,000 after buying an additional 82 shares during the period. Graypoint LLC boosted its stake in Amazon.com by 57.9% during the first quarter. Graypoint LLC now owns 1,704 shares of the e-commerce giant’s stock worth $5,555,000 after buying an additional 625 shares during the period. Finally, Castle Rock Wealth Management LLC boosted its stake in shares of Amazon.com by 10.6% in the first quarter. Castle Rock Wealth Management LLC now owns 1,715 shares of the e-commerce giant’s stock valued at $5,422,000 after purchasing an additional 164 shares during the period. Hedge funds and other institutional investors own 57.15% of the company’s stock.

Insider Activity

In related news, CEO Adam Selipsky sold 520 shares of Amazon.com stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $127.43, for a total value of $66,263.60. Following the transaction, the chief executive officer now directly owns 115,680 shares in the company, valued at approximately $14,741,102.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Amazon.com news, VP Shelley Reynolds sold 3,480 shares of the business’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $134.23, for a total transaction of $467,120.40. Following the sale, the vice president now directly owns 119,780 shares in the company, valued at approximately $16,078,069.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam Selipsky sold 520 shares of the business’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $127.43, for a total transaction of $66,263.60. Following the sale, the chief executive officer now owns 115,680 shares in the company, valued at $14,741,102.40. The disclosure for this sale can be found here. Insiders have sold 70,628 shares of company stock valued at $9,802,599 in the last ninety days. 12.70% of the stock is currently owned by company insiders.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $122.19 on Wednesday. The firm’s fifty day simple moving average is $129.77 and its 200-day simple moving average is $130.45. The stock has a market capitalization of $1.24 trillion, a price-to-earnings ratio of 109.54, a PEG ratio of 5.51 and a beta of 1.33. Amazon.com, Inc. has a 12 month low of $101.26 and a 12 month high of $188.11. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.95 and a quick ratio of 0.68.

Amazon.com (NASDAQ:AMZNGet Rating) last announced its earnings results on Thursday, July 28th. The e-commerce giant reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.35). The business had revenue of $121.23 billion during the quarter, compared to analyst estimates of $119.16 billion. Amazon.com had a net margin of 2.39% and a return on equity of 15.79%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.76 earnings per share. As a group, equities analysts forecast that Amazon.com, Inc. will post 0.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AMZN has been the subject of several recent research reports. Tigress Financial reissued a “buy” rating and issued a $232.00 price objective on shares of Amazon.com in a research note on Wednesday, June 29th. Jefferies Financial Group lowered their price objective on shares of Amazon.com from $163.00 to $150.00 in a research note on Wednesday, July 20th. Cowen lowered their price objective on shares of Amazon.com from $215.00 to $210.00 and set an “outperform” rating for the company in a research note on Thursday, July 14th. Oppenheimer lowered their price objective on shares of Amazon.com from $175.00 to $160.00 and set an “outperform” rating for the company in a research note on Monday, July 25th. Finally, Redburn Partners initiated coverage on shares of Amazon.com in a research note on Wednesday, June 29th. They issued a “buy” rating and a $270.00 price objective for the company. Two analysts have rated the stock with a sell rating, two have given a hold rating and thirty-six have assigned a buy rating to the stock. According to MarketBeat.com, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $176.61.

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.

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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