Frisch Financial Group Inc. Acquires 2,831 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Frisch Financial Group Inc. lifted its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 10.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,957 shares of the e-commerce giant’s stock after buying an additional 2,831 shares during the period. Amazon.com makes up approximately 1.7% of Frisch Financial Group Inc.’s holdings, making the stock its 19th largest holding. Frisch Financial Group Inc.’s holdings in Amazon.com were worth $5,582,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of AMZN. Clarity Asset Management Inc. lifted its position in Amazon.com by 150.0% in the third quarter. Clarity Asset Management Inc. now owns 750 shares of the e-commerce giant’s stock valued at $140,000 after purchasing an additional 450 shares during the last quarter. Brophy Wealth Management LLC purchased a new position in shares of Amazon.com in the third quarter worth $3,836,000. Vestcor Inc raised its holdings in Amazon.com by 1.9% during the 3rd quarter. Vestcor Inc now owns 264,712 shares of the e-commerce giant’s stock valued at $49,324,000 after buying an additional 4,844 shares during the last quarter. High Falls Advisors Inc boosted its position in Amazon.com by 5.4% during the 3rd quarter. High Falls Advisors Inc now owns 4,445 shares of the e-commerce giant’s stock valued at $828,000 after buying an additional 226 shares during the period. Finally, Conway Capital Management Inc. bought a new stake in Amazon.com in the 3rd quarter worth $24,703,000. Institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Down 0.3 %

Shares of NASDAQ:AMZN opened at $217.76 on Wednesday. The business has a 50-day moving average price of $217.02 and a 200 day moving average price of $195.74. Amazon.com, Inc. has a 12-month low of $149.91 and a 12-month high of $233.00. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $2.29 trillion, a price-to-earnings ratio of 46.63, a PEG ratio of 1.54 and a beta of 1.14.

Amazon.com (NASDAQ:AMZNGet Free Report) last posted its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.29. The firm had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. Amazon.com’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 EPS. Sell-side analysts expect that Amazon.com, Inc. will post 5.29 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on AMZN shares. Cantor Fitzgerald restated an “overweight” rating and set a $230.00 price target on shares of Amazon.com in a report on Monday, October 7th. HSBC upped their target price on Amazon.com from $225.00 to $270.00 and gave the company a “buy” rating in a report on Monday. TD Cowen lifted their price target on shares of Amazon.com from $240.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Rosenblatt Securities upped their price objective on shares of Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Royal Bank of Canada lifted their target price on shares of Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $245.65.

Read Our Latest Research Report on AMZN

Insider Transactions at Amazon.com

In related news, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $208.85, for a total value of $625,790,203.70. Following the completion of the sale, the insider now owns 917,416,976 shares in the company, valued at $191,602,535,437.60. This represents a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the sale, the director now directly owns 24,912 shares of the company’s stock, valued at $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,032,344 shares of company stock valued at $1,253,456,822. Insiders own 10.80% of the company’s stock.

Amazon.com Profile

(Free Report)

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.

Further Reading

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

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