Farther Finance Advisors LLC Increases Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Farther Finance Advisors LLC increased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 13.4% during the third quarter, Holdings Channel.com reports. The firm owned 150,089 shares of the e-commerce giant’s stock after acquiring an additional 17,758 shares during the quarter. Amazon.com accounts for 1.0% of Farther Finance Advisors LLC’s investment portfolio, making the stock its 13th largest holding. Farther Finance Advisors LLC’s holdings in Amazon.com were worth $27,967,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in AMZN. Meridian Investment Counsel Inc. boosted its position in Amazon.com by 1.8% in the second quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock worth $594,000 after purchasing an additional 55 shares during the last quarter. O Connor Financial Group LLC lifted its stake in shares of Amazon.com by 2.2% during the 3rd quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock valued at $473,000 after buying an additional 55 shares in the last quarter. Cherrydale Wealth Management LLC boosted its stake in shares of Amazon.com by 0.7% in the third quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock worth $1,396,000 after acquiring an additional 55 shares during the period. Mason & Associates Inc grew its position in shares of Amazon.com by 0.4% during the second quarter. Mason & Associates Inc now owns 13,427 shares of the e-commerce giant’s stock worth $2,595,000 after purchasing an additional 57 shares in the last quarter. Finally, West Wealth Group LLC raised its stake in Amazon.com by 0.4% during the 2nd quarter. West Wealth Group LLC now owns 13,144 shares of the e-commerce giant’s stock valued at $2,540,000 after purchasing an additional 57 shares during the period. 72.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on AMZN. Piper Sandler upped their price target on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. BMO Capital Markets restated an “outperform” rating and set a $236.00 target price on shares of Amazon.com in a research report on Tuesday, December 3rd. JMP Securities lifted their price target on shares of Amazon.com from $265.00 to $285.00 and gave the company a “market outperform” rating in a report on Friday, November 1st. Robert W. Baird increased their price objective on shares of Amazon.com from $213.00 to $220.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Maxim Group raised their price objective on Amazon.com from $251.00 to $260.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $236.20.

Amazon.com Price Performance

Shares of AMZN opened at $227.03 on Monday. The stock has a market capitalization of $2.39 trillion, a PE ratio of 48.61, a PEG ratio of 1.46 and a beta of 1.16. The company has a 50 day moving average price of $197.39 and a 200-day moving average price of $188.15. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. Amazon.com, Inc. has a fifty-two week low of $143.64 and a fifty-two week high of $227.15.

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

Insider Buying and Selling

In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the sale, the senior vice president now owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. This trade represents a 3.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan Rubinstein sold 5,004 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the transaction, the director now owns 99,396 shares in the company, valued at approximately $19,864,290.60. This trade represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,030,183 shares of company stock worth $1,252,883,795 in the last 90 days. 10.80% of the stock is owned by corporate insiders.

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.