Magnolia Private Wealth LLC Acquires New Position in Amazon.com, Inc. (NASDAQ:AMZN)

Magnolia Private Wealth LLC bought a new position in Amazon.com, Inc. (NASDAQ:AMZN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,889 shares of the e-commerce giant’s stock, valued at approximately $634,000.

Other institutional investors also recently bought and sold shares of the company. Parnassus Investments LLC increased its stake in shares of Amazon.com by 82,457.3% during the 3rd quarter. Parnassus Investments LLC now owns 11,405,294 shares of the e-commerce giant’s stock valued at $2,125,148,000 after acquiring an additional 11,391,479 shares during the last quarter. State Street Corp grew its holdings in Amazon.com by 3.3% in the third quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock valued at $66,926,008,000 after purchasing an additional 11,370,309 shares during the period. Geode Capital Management LLC increased its position in Amazon.com by 3.4% during the third quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock worth $37,116,341,000 after purchasing an additional 6,545,944 shares during the last quarter. Strategic Financial Concepts LLC raised its stake in Amazon.com by 23,742.9% during the fourth quarter. Strategic Financial Concepts LLC now owns 5,102,618 shares of the e-commerce giant’s stock worth $1,119,463,000 after purchasing an additional 5,081,217 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Amazon.com in the 3rd quarter valued at $492,144,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Price Performance

Shares of AMZN opened at $192.72 on Friday. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month 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 stock has a fifty day moving average price of $216.86 and a 200 day moving average price of $208.87. The company has a market cap of $2.04 trillion, a P/E ratio of 34.85, a PEG ratio of 1.50 and a beta of 1.19.

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on AMZN shares. Rosenblatt Securities increased their target price on Amazon.com from $236.00 to $287.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Piper Sandler restated an “overweight” rating and issued a $265.00 price objective (up from $225.00) on shares of Amazon.com in a report on Friday, February 7th. Wells Fargo & Company reduced their price objective on Amazon.com from $207.00 to $203.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 25th. Jefferies Financial Group increased their target price on shares of Amazon.com from $235.00 to $275.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, Benchmark lifted their price target on shares of Amazon.com from $215.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Two analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $260.65.

Insider Buying and Selling at Amazon.com

In other news, CEO Douglas J. Herrington sold 27,500 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total value of $6,332,425.00. Following the completion of the transaction, the chief executive officer now owns 497,067 shares of the company’s stock, valued at approximately $114,459,618.09. This represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $220.65, for a total value of $4,585,989.60. Following the transaction, the chief executive officer now directly owns 2,118,886 shares in the company, valued at $467,532,195.90. This trade represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 102,298 shares of company stock worth $22,871,828. 10.80% of the stock is owned by company insiders.

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.