Amazon.com, Inc. (NASDAQ:AMZN) is Lake Street Private Wealth LLC’s 7th Largest Position

Lake Street Private Wealth LLC reduced its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,622 shares of the e-commerce giant’s stock after selling 290 shares during the quarter. Amazon.com comprises 2.2% of Lake Street Private Wealth LLC’s investment portfolio, making the stock its 7th biggest position. Lake Street Private Wealth LLC’s holdings in Amazon.com were worth $13,739,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Icon Wealth Advisors LLC boosted its holdings in shares of Amazon.com by 20.5% in the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after acquiring an additional 25,581 shares during the period. Hoese & Co LLP purchased a new stake in Amazon.com during the 3rd quarter worth about $37,000. Bull Oak Capital LLC bought a new position in Amazon.com in the 3rd quarter worth about $45,000. Values First Advisors Inc. purchased a new position in Amazon.com during the 3rd quarter valued at about $56,000. Finally, IFS Advisors LLC increased its position in shares of Amazon.com by 1,625.0% during the fourth quarter. IFS Advisors LLC now owns 345 shares of the e-commerce giant’s stock valued at $76,000 after buying an additional 325 shares during the period. 72.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AMZN. Bank of America upped their target price on shares of Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Tigress Financial increased their price target on shares of Amazon.com from $245.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Wells Fargo & Company lifted their price objective on shares of Amazon.com from $197.00 to $212.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 14th. Roth Mkm increased their target price on Amazon.com from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Monness Crespi & Hardt increased their price objective on Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $250.33.

Insiders Place Their Bets

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the transaction, the director now directly owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jonathan Rubinstein sold 4,351 shares of the 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 sale, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,027,340 shares of company stock valued at $1,252,456,773. 10.80% of the stock is currently owned by corporate insiders.

Amazon.com Price Performance

Shares of AMZN opened at $237.68 on Friday. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $241.77. The firm’s 50-day simple moving average is $223.02 and its two-hundred day simple moving average is $198.55. The stock has a market cap of $2.50 trillion, a PE ratio of 50.90, a price-to-earnings-growth ratio of 1.35 and a beta of 1.14. 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 (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping 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 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 prior year, the business posted $0.85 EPS. Analysts anticipate that Amazon.com, Inc. will post 5.3 earnings per share for the current fiscal year.

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.