World Equity Group Inc. Buys 309 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

World Equity Group Inc. increased its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,084 shares of the e-commerce giant’s stock after buying an additional 309 shares during the quarter. Amazon.com makes up 1.4% of World Equity Group Inc.’s holdings, making the stock its 10th biggest position. World Equity Group Inc.’s holdings in Amazon.com were worth $6,600,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in AMZN. Rench Wealth Management Inc. increased its stake in shares of Amazon.com by 7.9% during the 3rd quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock worth $9,392,000 after purchasing an additional 3,703 shares during the last quarter. Blankinship & Foster LLC grew its holdings in Amazon.com by 216.4% during the third quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant’s stock worth $1,291,000 after purchasing an additional 4,740 shares during the period. Umpqua Bank increased its position in Amazon.com by 0.4% during the third quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock worth $6,544,000 after buying an additional 137 shares during the last quarter. One Wealth Capital Management LLC bought a new stake in Amazon.com in the fourth quarter valued at approximately $4,270,000. Finally, Floyd Financial Group LLC bought a new stake in Amazon.com in the fourth quarter valued at approximately $4,494,000. 72.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AMZN. TD Cowen boosted their target price on Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Barclays lifted their price objective on shares of Amazon.com from $235.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Telsey Advisory Group reissued an “outperform” rating and issued a $275.00 price objective on shares of Amazon.com in a research report on Friday, February 7th. Piper Sandler reaffirmed an “overweight” rating and set a $265.00 target price (up previously from $225.00) on shares of Amazon.com in a report on Friday, February 7th. Finally, Royal Bank of Canada increased their price target on shares of Amazon.com from $255.00 to $265.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned 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 a consensus price target of $260.65.

Insider Activity at Amazon.com

In related news, CEO Douglas J. Herrington sold 5,501 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $228.44, for a total value of $1,256,648.44. Following the sale, the chief executive officer now owns 505,318 shares of the company’s stock, valued at $115,434,843.92. The trade was a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP David Zapolsky sold 19,212 shares of Amazon.com stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $217.50, for a total value of $4,178,610.00. Following the transaction, the senior vice president now directly owns 49,950 shares in the company, valued at $10,864,125. The trade was a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 102,298 shares of company stock worth $22,871,828 in the last quarter. 10.80% of the stock is owned by insiders.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $205.71 on Wednesday. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $242.52. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. The company has a market cap of $2.18 trillion, a price-to-earnings ratio of 37.20, a PEG ratio of 1.50 and a beta of 1.19. The firm has a 50 day simple moving average of $218.36 and a 200 day simple moving average of $208.86.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. Research analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Amazon.com 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.