Avondale Wealth Management Raises Position in Amazon.com, Inc. (NASDAQ:AMZN)

Avondale Wealth Management raised its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 6,548.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 8,975 shares of the e-commerce giant’s stock after buying an additional 8,840 shares during the quarter. Amazon.com comprises 1.1% of Avondale Wealth Management’s investment portfolio, making the stock its 13th largest position. Avondale Wealth Management’s holdings in Amazon.com were worth $953,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AMZN. Norges Bank purchased a new stake in shares of Amazon.com during the fourth quarter valued at approximately $14,053,756,000. Castleview Partners LLC purchased a new stake in shares of Amazon.com during the fourth quarter valued at approximately $1,143,000. DnB Asset Management AS increased its position in shares of Amazon.com by 1,958.2% during the second quarter. DnB Asset Management AS now owns 3,083,201 shares of the e-commerce giant’s stock valued at $327,467,000 after acquiring an additional 2,933,398 shares during the last quarter. Aaron Wealth Advisors LLC increased its position in shares of Amazon.com by 346,521.1% during the first quarter. Aaron Wealth Advisors LLC now owns 2,246,105 shares of the e-commerce giant’s stock valued at $689,000 after acquiring an additional 2,245,457 shares during the last quarter. Finally, Verity Asset Management Inc. increased its position in shares of Amazon.com by 413,136.4% during the first quarter. Verity Asset Management Inc. now owns 1,508,313 shares of the e-commerce giant’s stock valued at $841,000 after acquiring an additional 1,507,948 shares during the last quarter. 57.15% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Stock Down 1.0 %

AMZN opened at $117.31 on Friday. The firm has a 50-day simple moving average of $130.33 and a two-hundred day simple moving average of $130.17. Amazon.com, Inc. has a 52 week low of $101.26 and a 52 week high of $188.11. The company has a market capitalization of $1.20 trillion, a PE ratio of 105.16, a price-to-earnings-growth ratio of 5.45 and a beta of 1.33. 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 released its quarterly earnings data on Thursday, July 28th. The e-commerce giant reported $0.10 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.05). Amazon.com had a net margin of 2.39% and a return on equity of 15.79%. The company had revenue of $121.23 billion for the quarter, compared to the consensus estimate of $119.16 billion. During the same period last year, the company earned $0.76 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. 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 dated Monday, August 15th. The shares were sold at an average price of $142.29, for a total value of $3,360,889.80. Following the completion of the transaction, the chief executive officer now owns 1,892,000 shares of the company’s stock, valued at approximately $269,212,680. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Andrew R. Jassy sold 23,620 shares of the stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $142.29, for a total value of $3,360,889.80. Following the completion of the transaction, the chief executive officer now owns 1,892,000 shares of the company’s stock, valued at approximately $269,212,680. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Adam Selipsky sold 520 shares of the stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $127.43, for a total transaction of $66,263.60. Following the completion of the sale, the chief executive officer now directly owns 115,680 shares in the company, valued at $14,741,102.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,628 shares of company stock valued at $9,802,599. Insiders own 12.70% of the company’s stock.

Wall Street Analysts Forecast Growth

AMZN has been the subject of a number of research analyst reports. Stifel Nicolaus decreased their price target on Amazon.com from $190.00 to $185.00 in a research report on Friday, July 15th. The Goldman Sachs Group reissued a “buy” rating and issued a $175.00 target price on shares of Amazon.com in a research report on Thursday, August 4th. Itaú Unibanco began coverage on Amazon.com in a report on Tuesday, July 26th. They issued an “outperform” rating and a $146.00 price target for the company. Wolfe Research raised their price target on Amazon.com from $140.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, July 29th. Finally, StockNews.com raised Amazon.com from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and thirty-six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average 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.

Further Reading

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

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