Assetmark Inc. Raises Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Assetmark Inc. increased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 7.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,484,324 shares of the e-commerce giant’s stock after purchasing an additional 101,666 shares during the period. Amazon.com makes up about 0.8% of Assetmark Inc.’s investment portfolio, making the stock its 28th largest position. Assetmark Inc.’s holdings in Amazon.com were worth $276,574,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of AMZN. PayPay Securities Corp lifted its holdings 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 worth $32,000 after acquiring an additional 64 shares during the last quarter. Hoese & Co LLP bought a new stake in Amazon.com in the third quarter worth about $37,000. Bull Oak Capital LLC bought a new position in shares of Amazon.com during the third quarter valued at approximately $45,000. Values First Advisors Inc. bought a new stake in shares of Amazon.com during the third quarter worth $56,000. Finally, Christopher J. Hasenberg Inc grew 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 worth $58,000 after purchasing an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Down 4.6 %

Shares of NASDAQ AMZN opened at $220.52 on Thursday. The stock has a market cap of $2.32 trillion, a PE ratio of 47.22, a P/E/G ratio of 1.54 and a beta of 1.16. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. Amazon.com, Inc. has a 12-month low of $144.05 and a 12-month high of $233.00. The company has a 50-day moving average of $204.37 and a 200 day moving average of $190.75.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating the consensus estimate of $1.14 by $0.29. The firm 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 business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 earnings per share. As a group, sell-side analysts predict that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Insider Activity

In other news, SVP David Zapolsky sold 2,190 shares of the stock in a transaction that occurred on 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 sale, the senior vice president now owns 62,420 shares of the company’s stock, valued at $12,171,900. This represents a 3.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the sale, the director now directly owns 24,912 shares in the company, valued at approximately $4,958,982.72. The trade was a 4.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,034,534 shares of company stock valued at $1,253,883,872. 10.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Morgan Stanley raised their target price on shares of Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Truist Financial upped their target price on Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Redburn Atlantic raised their price target on Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $236.00 price objective on shares of Amazon.com in a research note on Tuesday, December 3rd. Finally, Oppenheimer raised their target price on shares of Amazon.com from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $242.00.

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.