Gateway Wealth Partners LLC Acquires 480 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Gateway Wealth Partners LLC grew its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 2.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,213 shares of the e-commerce giant’s stock after purchasing an additional 480 shares during the quarter. Amazon.com makes up approximately 1.0% of Gateway Wealth Partners LLC’s holdings, making the stock its 22nd biggest holding. Gateway Wealth Partners LLC’s holdings in Amazon.com were worth $3,766,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of AMZN. China Universal Asset Management Co. Ltd. boosted its stake in Amazon.com by 18.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 211,442 shares of the e-commerce giant’s stock worth $39,398,000 after acquiring an additional 32,591 shares during the last quarter. Boston Financial Mangement LLC boosted its stake in Amazon.com by 0.6% during the 3rd quarter. Boston Financial Mangement LLC now owns 198,777 shares of the e-commerce giant’s stock worth $37,038,000 after acquiring an additional 1,190 shares during the last quarter. abrdn plc boosted its stake in Amazon.com by 8.8% during the 3rd quarter. abrdn plc now owns 8,627,429 shares of the e-commerce giant’s stock worth $1,602,329,000 after acquiring an additional 695,846 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. boosted its stake in Amazon.com by 248.2% during the 3rd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 5,258 shares of the e-commerce giant’s stock worth $980,000 after acquiring an additional 3,748 shares during the last quarter. Finally, Smith Group Asset Management LLC boosted its stake in Amazon.com by 29.7% during the 3rd quarter. Smith Group Asset Management LLC now owns 24,428 shares of the e-commerce giant’s stock worth $4,552,000 after acquiring an additional 5,595 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on AMZN shares. JPMorgan Chase & Co. raised their target price on shares of Amazon.com from $230.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. The Goldman Sachs Group raised their target price on shares of Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Benchmark raised their target price on shares of Amazon.com from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Wells Fargo & Company restated an “equal weight” rating and set a $197.00 target price on shares of Amazon.com in a report on Wednesday, November 20th. Finally, Scotiabank raised their target price on shares of Amazon.com from $245.00 to $246.00 and gave the stock a “sector outperform” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Amazon.com currently has an average rating of “Moderate Buy” and a consensus price target of $236.20.

Insider Activity

In related news, CEO Matthew S. Garman sold 15,260 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $200.19, for a total value of $3,054,899.40. Following the completion of the transaction, the chief executive officer now owns 349,261 shares of the company’s stock, valued at $69,918,559.59. The trade was a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the transaction, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. This trade represents a 3.39 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,026,683 shares of company stock valued at $1,252,148,795. 10.80% of the stock is owned by company insiders.

Amazon.com Trading Up 1.3 %

AMZN stock opened at $213.44 on Wednesday. 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 company has a fifty day moving average price of $195.51 and a two-hundred day moving average price of $187.34. Amazon.com, Inc. has a one year low of $142.81 and a one year high of $215.90. The stock has a market cap of $2.24 trillion, a price-to-earnings ratio of 45.70, a price-to-earnings-growth ratio of 1.41 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The company had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. Amazon.com’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.85 earnings per share. Equities analysts anticipate that Amazon.com, Inc. will post 5.29 EPS for the current year.

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.