Fairhaven Wealth Management LLC Has $3.14 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Fairhaven Wealth Management LLC increased its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,778 shares of the e-commerce giant’s stock after buying an additional 561 shares during the quarter. Amazon.com comprises approximately 1.4% of Fairhaven Wealth Management LLC’s investment portfolio, making the stock its 15th biggest position. Fairhaven Wealth Management LLC’s holdings in Amazon.com were worth $3,139,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. State Street Corp boosted its holdings in shares of Amazon.com by 1,869.1% in the 2nd quarter. State Street Corp now owns 326,727,487 shares of the e-commerce giant’s stock valued at $34,701,726,000 after purchasing an additional 310,134,486 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Amazon.com by 1,838.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock valued at $33,134,481,000 after purchasing an additional 295,880,050 shares in the last quarter. FMR LLC boosted its holdings in shares of Amazon.com by 1,792.4% in the 2nd quarter. FMR LLC now owns 286,047,356 shares of the e-commerce giant’s stock valued at $30,381,089,000 after purchasing an additional 270,931,640 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Amazon.com by 1,867.0% in the 2nd quarter. Northern Trust Corp now owns 94,997,372 shares of the e-commerce giant’s stock valued at $10,089,669,000 after purchasing an additional 90,167,792 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Amazon.com by 1,944.4% in the 2nd quarter. Legal & General Group Plc now owns 59,977,393 shares of the e-commerce giant’s stock valued at $6,370,223,000 after purchasing an additional 57,043,701 shares in the last quarter. Institutional investors and hedge funds own 57.64% of the company’s stock.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $92.13 on Friday. Amazon.com, Inc. has a twelve month low of $81.43 and a twelve month high of $170.83. The stock’s 50 day moving average price is $94.73 and its 200-day moving average price is $104.97. The company has a market capitalization of $944.08 billion, a PE ratio of -343.76, a PEG ratio of 3.88 and a beta of 1.25. The company has a quick ratio of 0.72, a current ratio of 0.94 and a debt-to-equity ratio of 0.46.

Amazon.com (NASDAQ:AMZN – Get Rating) last announced its earnings results on Thursday, February 2nd. The e-commerce giant reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.12). Amazon.com had a positive return on equity of 5.33% and a negative net margin of 0.53%. The business had revenue of $149.20 billion during the quarter, compared to analysts’ expectations of $145.72 billion. During the same quarter in the previous year, the firm earned $1.39 EPS. Amazon.com’s quarterly revenue was up 8.6% on a year-over-year basis. On average, equities analysts anticipate that Amazon.com, Inc. will post 1.34 EPS for the current year.

Analysts Set New Price Targets

AMZN has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price target on Amazon.com from $130.00 to $142.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $120.00 price target on shares of Amazon.com in a research note on Friday, February 3rd. MKM Partners dropped their price target on Amazon.com from $145.00 to $125.00 and set a “buy” rating for the company in a research note on Wednesday, January 18th. UBS Group increased their price target on Amazon.com from $118.00 to $127.00 in a research note on Friday, February 3rd. Finally, Benchmark increased their price target on Amazon.com from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 3rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and forty-one have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.87.

Insider Transactions at Amazon.com

In other news, CEO Douglas J. Herrington sold 7,456 shares of the business’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $94.90, for a total value of $707,574.40. Following the transaction, the chief executive officer now owns 564,298 shares in the company, valued at approximately $53,551,880.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Douglas J. Herrington sold 7,456 shares of Amazon.com stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $94.90, for a total value of $707,574.40. Following the sale, the chief executive officer now owns 564,298 shares of the company’s stock, valued at approximately $53,551,880.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew R. Jassy sold 23,874 shares of Amazon.com stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $99.15, for a total transaction of $2,367,107.10. Following the completion of the sale, the chief executive officer now directly owns 1,964,506 shares in the company, valued at approximately $194,780,769.90. The disclosure for this sale can be found here. Insiders have sold 67,394 shares of company stock worth $6,619,426 in the last 90 days. Insiders own 12.70% of the company’s stock.

Amazon.com Company Profile

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Amazon.com, Inc is a multinational technology company, which engages in the provision of online retail shopping services. It operates through the following segments: North America, International, and Amazon Web Services (AWS). The North America segment is involved in the retail sales of consumer products including from sellers and subscriptions through North America-focused online and physical stores.