Amazon.com, Inc. (NASDAQ:AMZN) Stake Raised by Sheets Smith Wealth Management

Sheets Smith Wealth Management raised its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.7% in the 4th quarter, Holdings Channel reports. The firm owned 95,591 shares of the e-commerce giant’s stock after purchasing an additional 653 shares during the quarter. Amazon.com accounts for 2.6% of Sheets Smith Wealth Management’s holdings, making the stock its 4th biggest holding. Sheets Smith Wealth Management’s holdings in Amazon.com were worth $20,972,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Hoese & Co LLP purchased a new stake in shares of Amazon.com in the 3rd quarter worth $37,000. Bull Oak Capital LLC bought a new position in Amazon.com in the third quarter worth approximately $45,000. Values First Advisors Inc. purchased a new stake in Amazon.com during the third quarter worth $56,000. IFS Advisors LLC boosted its position in Amazon.com by 1,625.0% during the 4th quarter. IFS Advisors LLC now owns 345 shares of the e-commerce giant’s stock valued at $76,000 after acquiring an additional 325 shares in the last quarter. Finally, West Financial Advisors LLC bought a new position in Amazon.com in the fourth quarter worth about $88,000. 72.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AMZN. TD Cowen lifted their price target on shares of Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Scotiabank upped their target price on Amazon.com from $246.00 to $306.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. BMO Capital Markets reiterated an “outperform” rating and issued a $236.00 price target on shares of Amazon.com in a research note on Tuesday, December 3rd. Moffett Nathanson boosted their price target on Amazon.com from $235.00 to $248.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Barclays increased their price objective on shares of Amazon.com from $235.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Amazon.com has a consensus rating of “Moderate Buy” and a consensus target price of $260.20.

Insiders Place Their Bets

In related news, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $210.00, for a total value of $735,000.00. Following the sale, the chief executive officer now owns 524,567 shares of the company’s stock, valued at $110,159,070. This trade represents a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jonathan Rubinstein sold 4,351 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the transaction, the director now owns 88,203 shares of the company’s stock, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,026,212 shares of company stock worth $625,666,424 in the last ninety days. 10.80% of the stock is owned by corporate insiders.

Amazon.com Trading Down 4.1 %

AMZN opened at $229.15 on Friday. The company’s 50 day simple moving average is $226.51 and its two-hundred day simple moving average is $200.30. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The firm has a market capitalization of $2.41 trillion, a price-to-earnings ratio of 49.07, a price-to-earnings-growth ratio of 1.35 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. Analysts expect that Amazon.com, Inc. will post 5.3 EPS for the current fiscal year.

Amazon.com Profile

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.