Independent Advisor Alliance Raises Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Independent Advisor Alliance increased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1,994.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 607,377 shares of the e-commerce giant’s stock after acquiring an additional 578,381 shares during the period. Amazon.com comprises about 3.6% of Independent Advisor Alliance’s portfolio, making the stock its 3rd biggest position. Independent Advisor Alliance’s holdings in Amazon.com were worth $64,510,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Elkhorn Partners Limited Partnership lifted its holdings in Amazon.com by 800.0% during the 1st quarter. Elkhorn Partners Limited Partnership now owns 18 shares of the e-commerce giant’s stock worth $59,000 after buying an additional 16 shares during the period. Dravo Bay LLC acquired a new position in Amazon.com during the 1st quarter worth about $72,000. Cordant Inc. acquired a new position in Amazon.com during the 1st quarter worth about $150,000. Moisand Fitzgerald Tamayo LLC lifted its holdings in Amazon.com by 36.1% during the 1st quarter. Moisand Fitzgerald Tamayo LLC now owns 49 shares of the e-commerce giant’s stock worth $160,000 after buying an additional 13 shares during the period. Finally, Evolution Advisers Inc. lifted its holdings in Amazon.com by 900.0% during the 1st quarter. Evolution Advisers Inc. now owns 50 shares of the e-commerce giant’s stock worth $162,000 after buying an additional 45 shares during the period. Institutional investors own 57.15% of the company’s stock.

Analyst Upgrades and Downgrades

AMZN has been the topic of several recent research reports. Credit Suisse Group cut their target price on Amazon.com from $159.00 to $142.00 and set an “outperform” rating on the stock in a report on Friday, October 28th. Deutsche Bank Aktiengesellschaft cut their target price on Amazon.com from $150.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, October 28th. Canaccord Genuity Group boosted their price objective on Amazon.com from $185.00 to $200.00 in a research note on Friday, July 29th. Oppenheimer dropped their price objective on Amazon.com from $165.00 to $130.00 and set an “outperform” rating on the stock in a research note on Friday, October 28th. Finally, Piper Sandler dropped their price objective on Amazon.com from $125.00 to $119.00 and set an “overweight” rating on the stock in a research note on Tuesday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and forty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and an average target price of $149.40.

Insider Activity

In other news, VP Shelley Reynolds sold 3,500 shares of Amazon.com stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $94.00, for a total transaction of $329,000.00. Following the completion of the sale, the vice president now owns 119,780 shares of the company’s stock, valued at $11,259,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Shelley Reynolds sold 3,500 shares of Amazon.com stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $94.00, for a total transaction of $329,000.00. Following the completion of the sale, the vice president now owns 119,780 shares of the company’s stock, valued at $11,259,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam Selipsky sold 345 shares of the business’s stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $102.00, for a total transaction of $35,190.00. Following the completion of the transaction, the chief executive officer now directly owns 112,795 shares of the company’s stock, valued at approximately $11,505,090. The disclosure for this sale can be found here. Over the last quarter, insiders sold 303,988 shares of company stock valued at $11,164,283. Corporate insiders own 12.70% of the company’s stock.

Amazon.com Stock Up 1.0 %

Shares of NASDAQ:AMZN opened at $94.13 on Friday. Amazon.com, Inc. has a 1 year low of $85.87 and a 1 year high of $181.68. The business has a 50 day simple moving average of $108.44 and a two-hundred day simple moving average of $116.60. The firm has a market capitalization of $960.28 billion, a PE ratio of 86.40, a price-to-earnings-growth ratio of 6.23 and a beta of 1.23. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.68.

Amazon.com (NASDAQ:AMZNGet Rating) last posted its quarterly earnings results on Thursday, October 27th. The e-commerce giant reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.06. Amazon.com had a net margin of 2.25% and a return on equity of 14.44%. The firm had revenue of $127.10 billion during the quarter, compared to the consensus estimate of $127.47 billion. During the same quarter in the previous year, the firm posted $0.31 earnings per share. The company’s revenue was up 14.7% on a year-over-year basis. On average, equities analysts predict that Amazon.com, Inc. will post 0.74 EPS for the current year.

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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