Turtle Creek Wealth Advisors LLC Increases Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Turtle Creek Wealth Advisors LLC increased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 10.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 23,373 shares of the e-commerce giant’s stock after purchasing an additional 2,153 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in Amazon.com were worth $4,517,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in AMZN. Cooksen Wealth LLC purchased a new stake in shares of Amazon.com in the 4th quarter valued at approximately $30,000. Christopher J. Hasenberg Inc increased its position in shares of Amazon.com by 650.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after purchasing an additional 260 shares during the last quarter. Clarity Asset Management Inc. purchased a new stake in shares of Amazon.com in the 4th quarter valued at approximately $46,000. Steph & Co. purchased a new stake in shares of Amazon.com in the 1st quarter valued at approximately $65,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of Amazon.com in the 1st quarter valued at approximately $69,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Stock Performance

Shares of AMZN opened at $187.97 on Friday. The company has a 50-day simple moving average of $178.92 and a 200-day simple moving average of $182.64. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $1.97 trillion, a PE ratio of 52.65, a P/E/G ratio of 1.46 and a beta of 1.14. Amazon.com, Inc. has a 52-week low of $118.35 and a 52-week high of $201.20.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The business had revenue of $147.98 billion during the quarter, compared to the consensus estimate of $148.63 billion. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. Equities research analysts predict that Amazon.com, Inc. will post 4.86 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $195.99, for a total value of $685,965.00. Following the completion of the transaction, the chief executive officer now owns 519,753 shares in the company, valued at approximately $101,866,390.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Amazon.com news, VP Shelley Reynolds sold 3,791 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the transaction, the vice president now directly owns 121,461 shares in the company, valued at approximately $21,989,299.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $195.99, for a total transaction of $685,965.00. Following the transaction, the chief executive officer now owns 519,753 shares of the company’s stock, valued at $101,866,390.47. The disclosure for this sale can be found here. Insiders sold 6,101,797 shares of company stock worth $1,220,129,922 in the last 90 days. 10.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $210.00 price objective on shares of Amazon.com in a research report on Thursday, September 12th. Morgan Stanley lowered their target price on shares of Amazon.com from $240.00 to $210.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Piper Sandler lowered their target price on shares of Amazon.com from $220.00 to $215.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Bank of America lowered their target price on shares of Amazon.com from $220.00 to $210.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, The Goldman Sachs Group lowered their target price on shares of Amazon.com from $250.00 to $230.00 and set a “buy” rating for the company in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $222.84.

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.