Cardinal Point Capital Management ULC Purchases 699 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Cardinal Point Capital Management ULC grew its position in Amazon.com, Inc. (NASDAQ:AMZN) by 25.9% during the second quarter, HoldingsChannel.com reports. The fund owned 3,401 shares of the e-commerce giant’s stock after acquiring an additional 699 shares during the quarter. Cardinal Point Capital Management ULC’s holdings in Amazon.com were worth $657,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AMZN. Alterna Wealth Management Inc. increased its holdings in shares of Amazon.com by 38.3% in the 2nd quarter. Alterna Wealth Management Inc. now owns 11,686 shares of the e-commerce giant’s stock worth $2,258,000 after buying an additional 3,238 shares during the last quarter. Atlas Private Wealth Advisors lifted its holdings in shares of Amazon.com by 99.5% in the 2nd quarter. Atlas Private Wealth Advisors now owns 22,332 shares of the e-commerce giant’s stock valued at $4,316,000 after acquiring an additional 11,138 shares during the last quarter. Twelve Points Wealth Management LLC grew its position in Amazon.com by 6.0% in the second quarter. Twelve Points Wealth Management LLC now owns 5,154 shares of the e-commerce giant’s stock worth $996,000 after acquiring an additional 292 shares in the last quarter. Optimum Investment Advisors increased its stake in Amazon.com by 3.4% during the second quarter. Optimum Investment Advisors now owns 17,410 shares of the e-commerce giant’s stock worth $3,364,000 after acquiring an additional 570 shares during the last quarter. Finally, Wolff Wiese Magana LLC raised its position in Amazon.com by 7.4% during the second quarter. Wolff Wiese Magana LLC now owns 11,897 shares of the e-commerce giant’s stock valued at $2,299,000 after purchasing an additional 815 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Amazon.com

In other Amazon.com news, VP Shelley Reynolds sold 3,791 shares of Amazon.com stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total value of $686,322.64. Following the transaction, the vice president now directly owns 121,461 shares of the company’s stock, valued at $21,989,299.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Jeffrey P. Bezos sold 1,228,993 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $200.36, for a total value of $246,241,037.48. Following the completion of the transaction, the insider now directly owns 930,696,284 shares of the company’s stock, valued at approximately $186,474,307,462.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Shelley Reynolds sold 3,791 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total transaction of $686,322.64. Following the sale, the vice president now directly owns 121,461 shares in the company, valued at approximately $21,989,299.44. The disclosure for this sale can be found here. Insiders sold 6,107,817 shares of company stock valued at $1,221,241,837 over the last 90 days. Insiders own 10.80% of the company’s stock.

Amazon.com Trading Up 0.5 %

Shares of NASDAQ AMZN opened at $177.04 on Friday. Amazon.com, Inc. has a 1-year low of $118.35 and a 1-year high of $201.20. The business has a fifty day moving average price of $183.78 and a 200 day moving average price of $180.98. The stock has a market capitalization of $1.84 trillion, a P/E ratio of 49.59, a price-to-earnings-growth ratio of 1.32 and a beta of 1.15. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, beating the consensus estimate of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 22.35%. The business had revenue of $147.98 billion during the quarter, compared to analyst estimates of $148.63 billion. Equities research analysts expect that Amazon.com, Inc. will post 4.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AMZN has been the subject of a number of recent research reports. Oppenheimer lifted their target price on Amazon.com from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Wedbush reaffirmed an “outperform” rating and set a $225.00 price objective on shares of Amazon.com in a research note on Friday, August 2nd. TD Securities increased their target price on shares of Amazon.com from $225.00 to $245.00 in a research note on Wednesday, July 10th. Bank of America lowered their target price on shares of Amazon.com from $220.00 to $210.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, Barclays upped their price target on shares of Amazon.com from $220.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating, forty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $221.69.

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.