Sharp Financial Services LLC Purchases New Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Sharp Financial Services LLC bought a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,470 shares of the e-commerce giant’s stock, valued at approximately $477,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cooksen Wealth LLC purchased a new position in shares of Amazon.com in the 4th quarter valued at approximately $30,000. Strid Group LLC purchased a new stake in shares of Amazon.com during the fourth quarter valued at approximately $43,000. Harbor Investment Advisory LLC increased its position in shares of Amazon.com by 0.7% during the fourth quarter. Harbor Investment Advisory LLC now owns 299,959 shares of the e-commerce giant’s stock valued at $46,000 after acquiring an additional 1,988 shares in the last quarter. Clarity Asset Management Inc. bought a new position in Amazon.com in the 4th quarter valued at approximately $46,000. Finally, Steph & Co. purchased a new stake in Amazon.com during the 1st quarter valued at $65,000. Institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Performance

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

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

Wall Street Analysts Forecast Growth

AMZN has been the subject of a number of recent analyst reports. UBS Group boosted their target price on Amazon.com from $217.00 to $224.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Truist Financial raised their price target on Amazon.com from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Rosenblatt Securities increased their target price on Amazon.com from $220.00 to $221.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Evercore ISI upped their price target on shares of Amazon.com from $220.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $225.00 target price on shares of Amazon.com in a report on Wednesday, July 31st. One 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $221.36.

Insiders Place Their Bets

In related news, VP Shelley Reynolds sold 3,791 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the sale, the vice president now directly owns 121,461 shares of the company’s stock, valued at approximately $21,989,299.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the vice president now owns 121,461 shares in the company, valued at $21,989,299.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $177.29, for a total transaction 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 valued at $1,221,241,837 over the last three months. 10.80% of the stock is owned by company insiders.

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.