Spectrum Planning & Advisory Services Inc. Invests $1.84 Million in Amazon.com, Inc. (NASDAQ:AMZN)

Spectrum Planning & Advisory Services Inc. bought a new position in Amazon.com, Inc. (NASDAQ:AMZN) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 9,280 shares of the e-commerce giant’s stock, valued at approximately $1,836,000. Amazon.com accounts for approximately 1.8% of Spectrum Planning & Advisory Services Inc.’s portfolio, making the stock its 16th largest holding.

Several other large investors have also recently modified their holdings of AMZN. DecisionPoint Financial LLC increased its stake in shares of Amazon.com by 221.9% in the fourth quarter. DecisionPoint Financial LLC now owns 3,219 shares of the e-commerce giant’s stock worth $489,000 after purchasing an additional 2,219 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in Amazon.com by 0.8% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,210,725 shares of the e-commerce giant’s stock valued at $183,958,000 after acquiring an additional 9,082 shares in the last quarter. Telos Capital Management Inc. grew its stake in Amazon.com by 0.8% during the fourth quarter. Telos Capital Management Inc. now owns 94,854 shares of the e-commerce giant’s stock valued at $14,412,000 after acquiring an additional 784 shares in the last quarter. Archer Investment Corp grew its stake in Amazon.com by 2.3% during the fourth quarter. Archer Investment Corp now owns 13,268 shares of the e-commerce giant’s stock valued at $2,016,000 after acquiring an additional 300 shares in the last quarter. Finally, Oakworth Capital Inc. grew its stake in Amazon.com by 4.4% during the fourth quarter. Oakworth Capital Inc. now owns 21,684 shares of the e-commerce giant’s stock valued at $3,295,000 after acquiring an additional 910 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $215.00 price objective on shares of Amazon.com in a research note on Friday, August 2nd. The Goldman Sachs Group reduced their price objective on shares of Amazon.com from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Truist Financial boosted their price objective on shares of Amazon.com from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Robert W. Baird lifted their target price on shares of Amazon.com from $210.00 to $213.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. Finally, Rosenblatt Securities lifted their target price on shares of Amazon.com from $220.00 to $221.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating, forty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $222.31.

Insider Transactions at Amazon.com

In other news, VP Shelley Reynolds sold 3,791 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total value of $686,322.64. Following the sale, the vice president now directly owns 121,461 shares of the company’s stock, valued at approximately $21,989,299.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Shelley Reynolds sold 3,791 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total value of $686,322.64. Following the sale, the vice president now directly owns 121,461 shares of the company’s stock, valued at approximately $21,989,299.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey P. Bezos sold 3,085,116 shares of the company’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $200.07, for a total transaction of $617,239,158.12. Following the completion of the sale, the insider now directly owns 931,925,277 shares in the company, valued at $186,450,290,169.39. The disclosure for this sale can be found here. Insiders have sold 6,104,317 shares of company stock valued at $1,220,621,322 in the last three months. 10.80% of the stock is currently owned by company insiders.

Amazon.com Stock Down 1.7 %

Shares of Amazon.com stock opened at $173.33 on Thursday. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. The company’s fifty day simple moving average is $181.93 and its two-hundred day simple moving average is $181.20. The company has a market cap of $1.80 trillion, a P/E ratio of 48.55, a PEG ratio of 1.34 and a beta of 1.15. Amazon.com, Inc. has a 12-month low of $118.35 and a 12-month high of $201.20.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The business had revenue of $147.98 billion for the quarter, compared to the consensus estimate of $148.63 billion. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. Research analysts anticipate that Amazon.com, Inc. will post 4.86 EPS for the current 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.