Palo Alto Wealth Advisors LLC Buys 4,545 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Palo Alto Wealth Advisors LLC increased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 53.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,010 shares of the e-commerce giant’s stock after buying an additional 4,545 shares during the period. Amazon.com accounts for about 1.0% of Palo Alto Wealth Advisors LLC’s investment portfolio, making the stock its 13th biggest holding. Palo Alto Wealth Advisors LLC’s holdings in Amazon.com were worth $2,460,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. PayPay Securities Corp grew 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 valued at $32,000 after acquiring an additional 64 shares in the last quarter. Hoese & Co LLP bought a new stake in shares of Amazon.com during the 3rd quarter worth about $37,000. Bull Oak Capital LLC bought a new position in shares of Amazon.com during the third quarter worth approximately $45,000. Values First Advisors Inc. bought a new stake in shares of Amazon.com in the third quarter valued at about $56,000. Finally, Christopher J. Hasenberg Inc increased its holdings in shares of Amazon.com by 650.0% during 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 period. 72.20% of the stock is currently owned by institutional investors.

Insider Transactions at Amazon.com

In related news, Director Jonathan Rubinstein sold 4,351 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the completion of the transaction, the director now owns 88,203 shares in the company, valued at approximately $20,273,459.55. The trade was a 4.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the business’s stock in a transaction on 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 directly owns 914,420,614 shares of the company’s stock, valued at $189,056,461,944.50. This trade represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,032,344 shares of company stock worth $1,253,456,822 over the last 90 days. 10.80% of the stock is owned by insiders.

Amazon.com Trading Up 1.8 %

Shares of Amazon.com stock opened at $229.05 on Thursday. Amazon.com, Inc. has a 52-week low of $144.05 and a 52-week high of $233.00. The firm has a market capitalization of $2.41 trillion, a PE ratio of 49.05, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. 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’s fifty day moving average price is $207.40 and its two-hundred day moving average price is $192.05.

Amazon.com (NASDAQ:AMZN) last issued its 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 company had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.85 EPS. On average, analysts expect that Amazon.com, Inc. will post 5.29 EPS for the current year.

Wall Street Analyst Weigh In

AMZN has been the topic of a number of recent analyst reports. BMO Capital Markets reissued an “outperform” rating and issued a $236.00 price objective on shares of Amazon.com in a research note on Tuesday, December 3rd. Royal Bank of Canada increased their price target on Amazon.com from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Truist Financial upped their price objective on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 1st. Evercore ISI raised their price target on shares of Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Scotiabank increased their price target on Amazon.com from $245.00 to $246.00 and gave the company a “sector outperform” rating in a research 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, Amazon.com presently has an average rating of “Moderate Buy” and an average target price of $243.00.

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.