Balentine LLC Has $5.40 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Balentine LLC increased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 260.3% in the third quarter, HoldingsChannel reports. The firm owned 28,971 shares of the e-commerce giant’s stock after purchasing an additional 20,931 shares during the period. Amazon.com makes up approximately 0.2% of Balentine LLC’s investment portfolio, making the stock its 23rd biggest holding. Balentine LLC’s holdings in Amazon.com were worth $5,398,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. PayPay Securities Corp boosted its stake in shares of Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after purchasing an additional 64 shares during the last quarter. Hoese & Co LLP bought a new position in Amazon.com in the third quarter valued at approximately $37,000. Bull Oak Capital LLC bought a new position in Amazon.com in the third quarter valued at approximately $45,000. Christopher J. Hasenberg Inc raised its holdings in shares of Amazon.com by 650.0% in the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after purchasing an additional 260 shares during the last quarter. Finally, Values First Advisors Inc. acquired a new stake in shares of Amazon.com in the third quarter valued at approximately $56,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AMZN. Cantor Fitzgerald restated an “overweight” rating and set a $230.00 target price on shares of Amazon.com in a report on Monday, October 7th. DA Davidson reissued a “buy” rating and set a $235.00 target price on shares of Amazon.com in a research note on Thursday, October 10th. Maxim Group upped their price objective on Amazon.com from $251.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. raised their price target 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. Finally, Susquehanna raised their price target on shares of Amazon.com from $220.00 to $230.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $238.87.

Amazon.com Stock Performance

NASDAQ AMZN opened at $227.46 on Friday. The stock has a market capitalization of $2.39 trillion, a PE ratio of 48.71, a P/E/G ratio of 1.54 and a beta of 1.16. The business has a 50 day simple moving average of $201.65 and a two-hundred day simple moving average of $189.67. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. Amazon.com, Inc. has a 1-year low of $144.05 and a 1-year high of $231.20.

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

Insider Activity at Amazon.com

In other Amazon.com news, 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 completion of the sale, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at $12,171,900. The trade was a 3.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com stock in a transaction on Monday, December 9th. The shares were sold at an average price of $229.85, for a total value of $1,000,077.35. Following the sale, the director now directly owns 88,203 shares of the company’s stock, valued at approximately $20,273,459.55. This trade represents a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,034,534 shares of company stock worth $1,253,883,872 in the last quarter. 10.80% of the stock is owned by company 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.