Center For Asset Management LLC Increases Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Center For Asset Management LLC lifted its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 12.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,289 shares of the e-commerce giant’s stock after buying an additional 1,370 shares during the quarter. Amazon.com makes up about 1.4% of Center For Asset Management LLC’s portfolio, making the stock its 17th biggest position. Center For Asset Management LLC’s holdings in Amazon.com were worth $2,375,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Garrison Point Advisors LLC grew its holdings in shares of Amazon.com by 0.3% during the first quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock valued at $3,675,000 after buying an additional 55 shares during the last quarter. Meridian Investment Counsel Inc. raised its stake in Amazon.com by 1.8% in the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock worth $594,000 after acquiring an additional 55 shares during the last quarter. Ridgecrest Wealth Partners LLC lifted its position in Amazon.com by 0.7% during the 1st quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock worth $1,399,000 after acquiring an additional 56 shares during the period. Stordahl Capital Management Inc. grew its stake in Amazon.com by 2.1% during the 1st quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock valued at $498,000 after purchasing an additional 56 shares during the last quarter. Finally, Lutz Financial Services LLC grew its stake in Amazon.com by 1.9% during the 1st quarter. Lutz Financial Services LLC now owns 3,053 shares of the e-commerce giant’s stock valued at $551,000 after purchasing an additional 57 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Amazon.com news, CFO Brian T. Olsavsky sold 14,600 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the completion of the sale, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Amazon.com news, VP Shelley Reynolds sold 3,791 shares of Amazon.com 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 transaction, the vice president now owns 121,461 shares of the company’s stock, valued at $21,989,299.44. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Brian T. Olsavsky sold 14,600 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the completion of the sale, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at $8,820,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,104,317 shares of company stock worth $1,220,621,322. Corporate insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AMZN shares. JPMorgan Chase & Co. lowered their price target on shares of Amazon.com from $240.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Roth Mkm lifted their price target on Amazon.com from $210.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Rosenblatt Securities raised their price objective on shares of Amazon.com from $220.00 to $221.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Evercore ISI boosted their target price on shares of Amazon.com from $225.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Wolfe Research assumed coverage on shares of Amazon.com in a report on Tuesday, July 16th. They set an “outperform” rating and a $250.00 price target on the stock. One investment analyst has rated the stock with a hold rating, forty have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $222.84.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $191.60 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88. The company has a market cap of $1.99 trillion, a price-to-earnings ratio of 53.67, a price-to-earnings-growth ratio of 1.39 and a beta of 1.14. The stock’s 50-day moving average is $178.54 and its two-hundred day moving average is $182.10. Amazon.com, Inc. has a 1-year low of $118.35 and a 1-year high of $201.20.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, topping the consensus estimate of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The company had revenue of $147.98 billion during the quarter, compared to analysts’ expectations of $148.63 billion. Analysts forecast that Amazon.com, Inc. will post 4.86 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.