VERITY Wealth Advisors Increases Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

VERITY Wealth Advisors increased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 15.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,220 shares of the e-commerce giant’s stock after buying an additional 300 shares during the period. VERITY Wealth Advisors’ holdings in Amazon.com were worth $400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cooksen Wealth LLC purchased a new position in Amazon.com in the 4th quarter valued at $30,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Amazon.com by 45.0% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 277 shares of the e-commerce giant’s stock valued at $42,000 after purchasing an additional 86 shares in the last quarter. Strid Group LLC purchased a new position in Amazon.com in the 4th quarter valued at $43,000. Clarity Asset Management Inc. purchased a new position in Amazon.com in the 4th quarter valued at $46,000. Finally, Bruce G. Allen Investments LLC purchased a new position in Amazon.com in the 4th quarter valued at $57,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on AMZN shares. Maxim Group decreased their price objective on Amazon.com from $318.00 to $238.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. The Goldman Sachs Group raised their target price on Amazon.com from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Robert W. Baird raised their target price on Amazon.com from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Loop Capital raised their target price on Amazon.com from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $225.00 target price on shares of Amazon.com in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a hold rating, forty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Amazon.com currently has an average rating of “Buy” and a consensus target price of $213.82.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $177.29, for a total transaction of $620,515.00. Following the completion of the sale, the chief executive officer now owns 523,253 shares in the company, valued at $92,767,524.37. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $177.29, for a total transaction of $620,515.00. Following the transaction, the chief executive officer now owns 523,253 shares of the company’s stock, valued at $92,767,524.37. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $181.38, for a total value of $90,690.00. Following the transaction, the chief executive officer now directly owns 130,600 shares in the company, valued at approximately $23,688,228. The disclosure for this sale can be found here. Insiders sold a total of 65,338 shares of company stock worth $11,894,344 over the last 90 days. 10.80% of the stock is owned by insiders.

Amazon.com Stock Performance

Shares of AMZN opened at $182.81 on Thursday. The stock has a 50-day simple moving average of $182.78 and a 200-day simple moving average of $170.96. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.87 and a current ratio of 1.07. The stock has a market capitalization of $1.90 trillion, a PE ratio of 51.21, a PEG ratio of 1.32 and a beta of 1.14. Amazon.com, Inc. has a 1 year low of $118.35 and a 1 year high of $191.70.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.15. The firm had revenue of $143.31 billion during the quarter, compared to analysts’ expectations of $142.65 billion. Amazon.com had a return on equity of 19.86% and a net margin of 6.38%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 earnings per share. On average, analysts predict that Amazon.com, Inc. will post 4.72 earnings per share for the current fiscal year.

Amazon.com Company 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.