Verity Asset Management Inc. Invests $836,000 in Amazon.com, Inc. (NASDAQ:AMZN)

Verity Asset Management Inc. acquired a new position in Amazon.com, Inc. (NASDAQ:AMZN) in the third quarter, HoldingsChannel reports. The firm acquired 7,398 shares of the e-commerce giant’s stock, valued at approximately $836,000.

A number of other hedge funds have also recently made changes to their positions in the business. Kavar Capital Partners Group LLC increased its stake in shares of Amazon.com by 7.6% in the first quarter. Kavar Capital Partners Group LLC now owns 1,121 shares of the e-commerce giant’s stock worth $3,654,000 after buying an additional 79 shares during the period. IFM Investors Pty Ltd increased its position in Amazon.com by 21.8% during the 1st quarter. IFM Investors Pty Ltd now owns 72,911 shares of the e-commerce giant’s stock valued at $237,686,000 after purchasing an additional 13,060 shares during the period. Ironwood Wealth Management LLC. increased its position in Amazon.com by 0.8% during the 1st quarter. Ironwood Wealth Management LLC. now owns 1,810 shares of the e-commerce giant’s stock valued at $5,901,000 after purchasing an additional 15 shares during the period. Markel Corp increased its position in Amazon.com by 0.6% during the 1st quarter. Markel Corp now owns 99,068 shares of the e-commerce giant’s stock valued at $322,956,000 after purchasing an additional 550 shares during the period. Finally, Leelyn Smith LLC increased its position in Amazon.com by 24.8% during the 1st quarter. Leelyn Smith LLC now owns 2,721 shares of the e-commerce giant’s stock valued at $8,870,000 after purchasing an additional 540 shares during the period. 57.64% of the stock is currently owned by institutional investors.

Amazon.com Trading Up 2.7 %

Amazon.com stock opened at $94.88 on Wednesday. The firm has a 50 day moving average of $96.20 and a 200 day moving average of $101.99. The firm has a market capitalization of $972.26 billion, a price-to-earnings ratio of -351.41, a P/E/G ratio of 3.74 and a beta of 1.25. Amazon.com, Inc. has a 12-month low of $81.43 and a 12-month high of $170.83. The company has a current ratio of 0.94, a quick ratio of 0.72 and a debt-to-equity ratio of 0.46.

Amazon.com (NASDAQ:AMZN – Get Rating) last released its earnings results on Thursday, February 2nd. The e-commerce giant reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $149.20 billion during the quarter, compared to analysts’ expectations of $145.72 billion. During the same period in the prior year, the company posted $1.39 earnings per share. The company’s revenue was up 8.6% compared to the same quarter last year. As a group, research analysts predict that Amazon.com, Inc. will post 1.34 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on AMZN shares. Robert W. Baird boosted their price objective on shares of Amazon.com from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. Wolfe Research upped their target price on shares of Amazon.com from $115.00 to $130.00 in a research report on Friday, February 3rd. Cowen upped their target price on shares of Amazon.com from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. Wells Fargo & Company reduced their target price on shares of Amazon.com from $155.00 to $145.00 in a research report on Friday, February 3rd. Finally, Piper Sandler upped their target price on shares of Amazon.com from $119.00 to $123.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-one have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $144.87.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, VP Shelley Reynolds sold 3,500 shares of the stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $94.91, for a total transaction of $332,185.00. Following the completion of the sale, the vice president now directly owns 119,780 shares of the company’s stock, valued at approximately $11,368,319.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Amazon.com news, VP Shelley Reynolds sold 3,500 shares of the stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $94.91, for a total transaction of $332,185.00. Following the completion of the sale, the vice president now directly owns 119,780 shares of the company’s stock, valued at approximately $11,368,319.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Douglas J. Herrington sold 4,000 shares of the stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $93.80, for a total value of $375,200.00. Following the transaction, the chief executive officer now owns 560,298 shares of the company’s stock, valued at $52,555,952.40. The disclosure for this sale can be found here. Insiders sold a total of 71,394 shares of company stock valued at $6,994,626 in the last three months. 12.70% of the stock is currently owned by corporate insiders.

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.