Sound Income Strategies LLC Boosts Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Sound Income Strategies LLC grew its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2,540.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,097 shares of the e-commerce giant’s stock after purchasing an additional 19,336 shares during the quarter. Sound Income Strategies LLC’s holdings in Amazon.com were worth $2,135,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Fifth Third Bancorp grew its stake in Amazon.com by 1.5% in the 1st quarter. Fifth Third Bancorp now owns 177,679 shares of the e-commerce giant’s stock valued at $579,225,000 after acquiring an additional 2,686 shares during the period. LRT Capital Management LLC acquired a new stake in Amazon.com in the 1st quarter valued at $939,000. Van Hulzen Asset Management LLC boosted its stake in Amazon.com by 2.1% during the 1st quarter. Van Hulzen Asset Management LLC now owns 3,993 shares of the e-commerce giant’s stock worth $13,017,000 after purchasing an additional 82 shares during the last quarter. Graypoint LLC boosted its stake in Amazon.com by 57.9% during the 1st quarter. Graypoint LLC now owns 1,704 shares of the e-commerce giant’s stock worth $5,555,000 after purchasing an additional 625 shares during the last quarter. Finally, Castle Rock Wealth Management LLC boosted its stake in Amazon.com by 10.6% during the 1st quarter. Castle Rock Wealth Management LLC now owns 1,715 shares of the e-commerce giant’s stock worth $5,422,000 after purchasing an additional 164 shares during the last quarter. 57.15% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Trading Down 3.0 %

Shares of AMZN stock opened at $118.54 on Thursday. Amazon.com, Inc. has a fifty-two week low of $101.26 and a fifty-two week high of $188.11. The stock has a market cap of $1.21 trillion, a P/E ratio of 106.27, a P/E/G ratio of 5.56 and a beta of 1.33. The business has a fifty day simple moving average of $130.20 and a 200-day simple moving average of $130.31. The company has a quick ratio of 0.68, a current ratio of 0.95 and a debt-to-equity ratio of 0.44.

Amazon.com (NASDAQ:AMZNGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The e-commerce giant reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). The firm had revenue of $121.23 billion during the quarter, compared to analysts’ expectations of $119.16 billion. Amazon.com had a net margin of 2.39% and a return on equity of 15.79%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.76 EPS. On average, analysts forecast that Amazon.com, Inc. will post 0.99 earnings per share for the current fiscal year.

Insider Activity at Amazon.com

In related news, CEO Andrew R. Jassy sold 23,620 shares of the stock in a transaction on Monday, August 15th. The stock was 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 of the company’s stock, valued at $269,212,680. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Adam Selipsky sold 520 shares of the 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 of the company’s stock, valued at $14,741,102.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew R. Jassy sold 23,620 shares of the firm’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $142.29, for a total value of $3,360,889.80. Following the completion of the sale, the chief executive officer now directly owns 1,892,000 shares in the company, valued at $269,212,680. The disclosure for this sale can be found here. Insiders have sold a total of 70,628 shares of company stock valued at $9,802,599 over the last quarter. Insiders own 12.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AMZN shares. UBS Group lifted 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. MKM Partners lowered their price target on shares of Amazon.com from $180.00 to $165.00 in a research report on Monday, July 25th. Tigress Financial reissued a “buy” rating and set a $232.00 price target on shares of Amazon.com in a research report on Wednesday, June 29th. Itau BBA Securities initiated coverage on shares of Amazon.com in a research report on Tuesday, July 26th. They set an “outperform” rating and a $146.00 price target on the stock. Finally, Piper Sandler boosted their price target on shares of Amazon.com from $170.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, July 29th. Two analysts have rated the stock with a sell rating, two have given a hold rating and thirty-six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $176.61.

Amazon.com Company 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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