AlphaStar Capital Management LLC Raises Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

AlphaStar Capital Management LLC grew its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 15.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,959 shares of the e-commerce giant’s stock after buying an additional 4,088 shares during the period. AlphaStar Capital Management LLC’s holdings in Amazon.com were worth $5,790,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. GUNN & Co INVESTMENT MANAGEMENT INC. lifted its holdings in shares of Amazon.com by 291.8% in the 4th quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 28,995 shares of the e-commerce giant’s stock worth $4,406,000 after acquiring an additional 21,595 shares during the last quarter. Crew Capital Management Ltd. lifted its holdings in shares of Amazon.com by 2.4% in the 4th quarter. Crew Capital Management Ltd. now owns 3,874 shares of the e-commerce giant’s stock worth $589,000 after acquiring an additional 91 shares during the last quarter. Fernwood Investment Management LLC lifted its holdings in shares of Amazon.com by 0.4% in the 4th quarter. Fernwood Investment Management LLC now owns 47,110 shares of the e-commerce giant’s stock worth $6,992,000 after acquiring an additional 180 shares during the last quarter. Steele Capital Management Inc. bought a new stake in shares of Amazon.com in the 4th quarter worth about $10,306,000. Finally, LWM Advisory Services LLC lifted its holdings in shares of Amazon.com by 2.5% in the 4th quarter. LWM Advisory Services LLC now owns 16,665 shares of the e-commerce giant’s stock worth $2,532,000 after acquiring an additional 413 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Stock Performance

AMZN opened at $186.43 on Thursday. The stock has a market cap of $1.94 trillion, a PE ratio of 52.22, a P/E/G ratio of 1.39 and a beta of 1.14. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. Amazon.com, Inc. has a 1 year low of $118.35 and a 1 year high of $201.20. The stock’s 50 day simple moving average is $178.71 and its 200-day simple moving average is $181.83.

Amazon.com (NASDAQ:AMZN) last released 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 analysts’ expectations of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. Sell-side analysts forecast that Amazon.com, Inc. will post 4.86 EPS for the current year.

Insiders Place Their Bets

In other Amazon.com news, VP Shelley Reynolds sold 3,791 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total value of $686,322.64. Following the transaction, the vice president now owns 121,461 shares of the company’s stock, valued at $21,989,299.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Jeffrey P. Bezos sold 1,228,993 shares of the business’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $200.36, for a total transaction of $246,241,037.48. Following the completion of the sale, the insider now owns 930,696,284 shares in the company, valued at $186,474,307,462.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Shelley Reynolds sold 3,791 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the sale, the vice president now owns 121,461 shares in the company, valued at $21,989,299.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,104,317 shares of company stock valued at $1,220,621,322. 10.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Amazon.com from $240.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Truist Financial lifted their price objective on shares of Amazon.com from $220.00 to $230.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Cantor Fitzgerald assumed coverage on shares of Amazon.com in a report on Thursday, September 5th. They set an “overweight” rating and a $230.00 price objective for the company. Tigress Financial lifted their price objective on shares of Amazon.com from $210.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Finally, Stifel Nicolaus decreased their price objective on shares of Amazon.com from $228.00 to $224.00 and set a “buy” rating for the company in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating, forty have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $222.49.

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.