Summit Financial Strategies Inc. Raises Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Summit Financial Strategies Inc. increased its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 13.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,821 shares of the e-commerce giant’s stock after buying an additional 1,078 shares during the period. Summit Financial Strategies Inc.’s holdings in Amazon.com were worth $1,644,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Orin Green Financial LLC increased its stake in shares of Amazon.com by 68.6% during the third quarter. Orin Green Financial LLC now owns 7,395 shares of the e-commerce giant’s stock valued at $1,378,000 after buying an additional 3,010 shares during the period. Greater Midwest Financial Group LLC grew its holdings in Amazon.com by 0.3% during the 3rd quarter. Greater Midwest Financial Group LLC now owns 54,724 shares of the e-commerce giant’s stock worth $10,197,000 after acquiring an additional 145 shares in the last quarter. Sassicaia Capital Advisers LLC purchased a new position in Amazon.com during the 3rd quarter valued at about $279,000. Naviter Wealth LLC raised its holdings in shares of Amazon.com by 4.6% in the 3rd quarter. Naviter Wealth LLC now owns 52,149 shares of the e-commerce giant’s stock valued at $9,717,000 after purchasing an additional 2,316 shares in the last quarter. Finally, Mezzasalma Advisors LLC lifted its position in shares of Amazon.com by 2.6% in the 3rd quarter. Mezzasalma Advisors LLC now owns 58,799 shares of the e-commerce giant’s stock worth $10,956,000 after purchasing an additional 1,470 shares during the period. Institutional investors own 72.20% of the company’s stock.

Insiders Place Their Bets

In related news, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $206.75, for a total transaction of $619,497,843.50. Following the completion of the transaction, the insider now owns 914,420,614 shares in the company, valued at $189,056,461,944.50. This represents a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian T. Olsavsky sold 14,600 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the completion of the transaction, the chief financial officer now directly owns 49,000 shares in the company, valued at $8,820,000. This represents a 22.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,053,349 shares of company stock worth $1,256,503,289. 10.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on AMZN shares. Stifel Nicolaus lifted their price objective on shares of Amazon.com from $224.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 1st. Robert W. Baird lifted their price target on Amazon.com from $213.00 to $220.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Rosenblatt Securities upped their price objective on Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft lifted their target price on Amazon.com from $225.00 to $232.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Monness Crespi & Hardt increased their price target on shares of Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $235.45.

Amazon.com Stock Performance

AMZN opened at $202.61 on Friday. The stock has a market cap of $2.13 trillion, a P/E ratio of 43.39, a P/E/G ratio of 1.44 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The firm has a fifty day moving average price of $191.16 and a 200 day moving average price of $185.69. Amazon.com, Inc. has a 1 year low of $139.52 and a 1 year high of $215.90.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. During the same quarter in the prior year, the firm posted $0.85 earnings per share. The company’s revenue was up 11.0% compared to the same quarter last year. Equities research analysts anticipate that Amazon.com, Inc. will post 5.27 earnings per share for the current year.

About Amazon.com

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.