Newport Capital Group LLC Takes $411,000 Position in Amazon.com, Inc. (NASDAQ:AMZN)

Newport Capital Group LLC purchased a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,125 shares of the e-commerce giant’s stock, valued at approximately $411,000.

Several other institutional investors also recently added to or reduced their stakes in AMZN. Prentice Wealth Management LLC grew its stake in shares of Amazon.com by 4.6% in the 1st quarter. Prentice Wealth Management LLC now owns 9,856 shares of the e-commerce giant’s stock valued at $1,778,000 after purchasing an additional 436 shares during the last quarter. Security National Bank increased its stake in Amazon.com by 0.7% in the 1st quarter. Security National Bank now owns 73,164 shares of the e-commerce giant’s stock valued at $13,197,000 after buying an additional 533 shares during the period. Arkfeld Wealth Strategies L.L.C. raised its position in Amazon.com by 3.5% during the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 98,998 shares of the e-commerce giant’s stock worth $18,409,000 after buying an additional 3,376 shares during the last quarter. West Paces Advisors Inc. lifted its stake in shares of Amazon.com by 8.7% in the 1st quarter. West Paces Advisors Inc. now owns 9,485 shares of the e-commerce giant’s stock worth $1,711,000 after acquiring an additional 758 shares during the period. Finally, Ayalon Insurance Comp Ltd. boosted its holdings in shares of Amazon.com by 9.0% in the first quarter. Ayalon Insurance Comp Ltd. now owns 14,518 shares of the e-commerce giant’s stock valued at $2,619,000 after acquiring an additional 1,198 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Wolfe Research assumed coverage on shares of Amazon.com in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $250.00 price objective for the company. Itau BBA Securities cut Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 price objective for the company. in a research report on Friday, August 2nd. Maxim Group boosted their target price on shares of Amazon.com from $238.00 to $251.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Bank of America reduced their price objective on shares of Amazon.com from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Finally, Piper Sandler lowered their target price on shares of Amazon.com from $220.00 to $215.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Amazon.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.78.

Insider Transactions at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $189.25, for a total value of $662,375.00. Following the completion of the sale, the chief executive officer now owns 503,753 shares of the company’s stock, valued at $95,335,255.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $189.25, for a total value of $662,375.00. Following the completion of the transaction, the chief executive officer now directly owns 503,753 shares in the company, valued at approximately $95,335,255.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the sale, the senior vice president now directly owns 62,420 shares in the company, valued at $12,171,900. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,355 shares of company stock valued at $9,877,423 over the last quarter. Company insiders own 10.80% of the company’s stock.

Amazon.com Trading Up 0.8 %

NASDAQ AMZN opened at $187.83 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. Amazon.com, Inc. has a one year low of $118.35 and a one year high of $201.20. The company’s 50 day moving average price is $183.50 and its 200 day moving average price is $183.54. The firm has a market capitalization of $1.95 trillion, a price-to-earnings ratio of 52.61, a PEG ratio of 1.38 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, beating 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 business had revenue of $147.98 billion for the quarter, compared to analyst estimates of $148.63 billion. On average, sell-side analysts predict that Amazon.com, Inc. will post 4.85 EPS for the current 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.