Northeast Financial Group Inc. Has $2.48 Million Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Northeast Financial Group Inc. grew its position in Amazon.com, Inc. (NASDAQ:AMZN) by 66.7% during the second quarter, HoldingsChannel reports. The firm owned 12,827 shares of the e-commerce giant’s stock after buying an additional 5,131 shares during the quarter. Amazon.com comprises approximately 1.1% of Northeast Financial Group Inc.’s holdings, making the stock its 21st biggest position. Northeast Financial Group Inc.’s holdings in Amazon.com were worth $2,479,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of AMZN. Cooksen Wealth LLC acquired a new position in Amazon.com during the 4th quarter worth $30,000. Strid Group LLC bought a new position in shares of Amazon.com in the fourth quarter worth about $43,000. Harbor Investment Advisory LLC lifted its position in shares of Amazon.com by 0.7% during the 4th quarter. Harbor Investment Advisory LLC now owns 299,959 shares of the e-commerce giant’s stock worth $46,000 after purchasing an additional 1,988 shares during the last quarter. Clarity Asset Management Inc. bought a new stake in Amazon.com during the 4th quarter valued at approximately $46,000. Finally, Steph & Co. acquired a new stake in Amazon.com in the 1st quarter valued at approximately $65,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Stock Down 0.9 %

Shares of NASDAQ AMZN opened at $175.50 on Tuesday. Amazon.com, Inc. has a 12-month low of $118.35 and a 12-month high of $201.20. The firm’s 50-day simple moving average is $183.61 and its 200 day simple moving average is $181.09. The company has a quick ratio of 0.87, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. The company has a market cap of $1.83 trillion, a price-to-earnings ratio of 49.16, a price-to-earnings-growth ratio of 1.32 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 22.35%. The company had revenue of $147.98 billion during the quarter, compared to the consensus estimate of $148.63 billion. On average, research analysts expect that Amazon.com, Inc. will post 4.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Amazon.com news, VP Shelley Reynolds sold 3,791 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total value of $686,322.64. Following the transaction, the vice president now directly owns 121,461 shares in the company, valued at approximately $21,989,299.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Shelley Reynolds sold 3,791 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total value of $686,322.64. Following the transaction, the vice president now owns 121,461 shares in the company, valued at $21,989,299.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $177.29, for a total value of $620,515.00. Following the sale, the chief executive officer now directly owns 523,253 shares of the company’s stock, valued at $92,767,524.37. The disclosure for this sale can be found here. Insiders sold 6,107,817 shares of company stock worth $1,221,241,837 in the last quarter. Insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Monness Crespi & Hardt increased their price objective on Amazon.com from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Itau BBA Securities downgraded shares of Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 price target for the company. in a report on Friday, August 2nd. Roth Mkm boosted their price objective on shares of Amazon.com from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Loop Capital upped their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Finally, Wedbush reissued an “outperform” rating and set a $225.00 target price on shares of Amazon.com in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $221.36.

About Amazon.com

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.