Amazon.com, Inc. (NASDAQ:AMZN) Shares Bought by Pursue Wealth Partners LLC

Pursue Wealth Partners LLC raised its position in Amazon.com, Inc. (NASDAQ:AMZN) by 4.9% during the second quarter, HoldingsChannel.com reports. The firm owned 27,117 shares of the e-commerce giant’s stock after buying an additional 1,275 shares during the quarter. Amazon.com comprises 2.9% of Pursue Wealth Partners LLC’s investment portfolio, making the stock its 13th biggest position. Pursue Wealth Partners LLC’s holdings in Amazon.com were worth $5,240,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. GPM Growth Investors Inc. purchased a new stake in Amazon.com during the 2nd quarter worth $10,269,000. Belpointe Asset Management LLC lifted its stake in shares of Amazon.com by 8.2% during the second quarter. Belpointe Asset Management LLC now owns 127,119 shares of the e-commerce giant’s stock worth $24,566,000 after purchasing an additional 9,663 shares in the last quarter. Consolidated Planning Corp boosted its position in shares of Amazon.com by 4.8% in the second quarter. Consolidated Planning Corp now owns 37,603 shares of the e-commerce giant’s stock worth $7,267,000 after buying an additional 1,725 shares during the period. Index Fund Advisors Inc. grew its stake in shares of Amazon.com by 4.3% in the second quarter. Index Fund Advisors Inc. now owns 14,833 shares of the e-commerce giant’s stock valued at $2,866,000 after buying an additional 613 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in shares of Amazon.com by 28.2% in the second quarter. Larson Financial Group LLC now owns 74,608 shares of the e-commerce giant’s stock valued at $14,418,000 after buying an additional 16,390 shares in the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMZN has been the subject of a number of analyst reports. Morgan Stanley restated an “overweight” rating and issued a $210.00 price target on shares of Amazon.com in a report on Thursday. The Goldman Sachs Group decreased their target price on shares of Amazon.com from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $230.00 price target on shares of Amazon.com in a report on Monday. TD Securities boosted their price objective on shares of Amazon.com from $225.00 to $245.00 in a report on Wednesday, July 10th. Finally, Robert W. Baird upped their price objective on shares of Amazon.com from $210.00 to $213.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. One equities research 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. According to data from MarketBeat.com, Amazon.com currently has an average rating of “Buy” and an average price target of $223.65.

Amazon.com Stock Performance

Shares of AMZN stock opened at $181.96 on Friday. Amazon.com, Inc. has a 12-month low of $118.35 and a 12-month high of $201.20. 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 firm has a market capitalization of $1.89 trillion, a price-to-earnings ratio of 50.97, a price-to-earnings-growth ratio of 1.46 and a beta of 1.14. The business has a 50 day simple moving average of $179.09 and a 200 day simple moving average of $182.82.

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

Insider Buying and Selling at Amazon.com

In other news, insider Jeffrey P. Bezos sold 1,228,993 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $200.36, for a total value of $246,241,037.48. Following the completion of the sale, the insider now directly owns 930,696,284 shares of the company’s stock, valued at approximately $186,474,307,462.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related 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 transaction, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at $8,820,000. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jeffrey P. Bezos sold 1,228,993 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $200.36, for a total transaction of $246,241,037.48. Following the completion of the sale, the insider now owns 930,696,284 shares in the company, valued at $186,474,307,462.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,549,744 shares of company stock valued at $309,400,324. Company insiders own 10.80% of the company’s stock.

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.