Resource Consulting Group Inc. Increases Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Resource Consulting Group Inc. grew its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1,900.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,540 shares of the e-commerce giant’s stock after buying an additional 2,413 shares during the quarter. Resource Consulting Group Inc.’s holdings in Amazon.com were worth $270,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Gibson Wealth Advisors LLC bought a new position in Amazon.com during the 4th quarter valued at about $33,000. MBM Wealth Consultants LLC grew its holdings in Amazon.com by 57.1% during the 4th 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 last quarter. Swaine & Leidel Wealth Services LLC bought a new position in Amazon.com during the 1st quarter valued at about $38,000. William Allan LLC bought a new position in Amazon.com during the 4th quarter valued at about $47,000. Finally, Cardinal Capital Management Inc. bought a new position in Amazon.com during the 1st quarter valued at about $49,000. 57.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMZN has been the topic of several analyst reports. MKM Partners cut their price target on shares of Amazon.com from $180.00 to $165.00 in a report on Monday, July 25th. Loop Capital dropped their target price on shares of Amazon.com from $187.50 to $141.25 and set a “buy” rating on the stock in a research note on Friday, May 27th. UBS Group upped their target price on shares of Amazon.com from $167.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Jefferies Financial Group dropped their target price on shares of Amazon.com from $163.00 to $150.00 in a research note on Wednesday, July 20th. Finally, Wolfe Research upped their target price on shares of Amazon.com from $140.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, July 29th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and thirty-six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $176.61.

Amazon.com Trading Down 2.0 %

NASDAQ AMZN opened at $122.19 on Wednesday. The company has a fifty day simple moving average of $129.77 and a two-hundred day simple moving average of $130.45. The stock has a market cap of $1.24 trillion, a P/E ratio of 109.54, a P/E/G 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 current ratio of 0.95, a quick ratio of 0.68 and a debt-to-equity ratio of 0.44.

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

Insider Buying and Selling

In related news, CEO Adam Selipsky sold 520 shares of the firm’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $127.43, for a total transaction of $66,263.60. Following the completion of the transaction, the chief executive officer now owns 115,680 shares of the company’s stock, valued at $14,741,102.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Andrew R. Jassy sold 23,620 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $142.29, for a total transaction of $3,360,889.80. Following the sale, the chief executive officer now owns 1,892,000 shares in the company, valued at $269,212,680. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Adam Selipsky sold 520 shares of the firm’s stock in a transaction on Wednesday, September 14th. The shares were 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 approximately $14,741,102.40. The disclosure for this sale can be found here. Insiders sold a total of 70,628 shares of company stock valued at $9,802,599 over the last 90 days. Insiders own 12.70% of the company’s stock.

Amazon.com Profile

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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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