Kings Path Partners LLC Buys New Position in Amazon.com, Inc. (NASDAQ:AMZN)

Kings Path Partners LLC purchased a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,000 shares of the e-commerce giant’s stock, valued at approximately $193,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. TFB Advisors LLC boosted its holdings in shares of Amazon.com by 9.8% during the 2nd quarter. TFB Advisors LLC now owns 24,494 shares of the e-commerce giant’s stock worth $4,733,000 after buying an additional 2,179 shares in the last quarter. Moloney Securities Asset Management LLC boosted its holdings in shares of Amazon.com by 18.2% during the 2nd quarter. Moloney Securities Asset Management LLC now owns 66,452 shares of the e-commerce giant’s stock worth $12,842,000 after buying an additional 10,236 shares in the last quarter. Adero Partners LLC boosted its holdings in shares of Amazon.com by 0.3% during the 2nd quarter. Adero Partners LLC now owns 21,107 shares of the e-commerce giant’s stock worth $4,079,000 after buying an additional 65 shares in the last quarter. WMG Financial Advisors LLC boosted its holdings in shares of Amazon.com by 22.5% during the 2nd quarter. WMG Financial Advisors LLC now owns 7,228 shares of the e-commerce giant’s stock worth $1,397,000 after buying an additional 1,326 shares in the last quarter. Finally, Hobart Private Capital LLC bought a new position in shares of Amazon.com during the 2nd quarter worth approximately $208,000. 72.20% of the stock is currently owned by institutional investors.

Amazon.com Trading Up 0.0 %

Shares of AMZN opened at $193.96 on Wednesday. The business has a 50-day moving average of $178.59 and a 200 day moving average of $182.35. Amazon.com, Inc. has a fifty-two week low of $118.35 and a fifty-two week high of $201.20. The firm has a market cap of $2.02 trillion, a P/E ratio of 54.33, a price-to-earnings-growth ratio of 1.39 and a beta of 1.14. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.18. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. The company had revenue of $147.98 billion during the quarter, compared to analyst estimates of $148.63 billion. As a group, research analysts forecast that Amazon.com, Inc. will post 4.86 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AMZN. Cantor Fitzgerald reiterated an “overweight” rating and issued a $230.00 target price on shares of Amazon.com in a report on Monday. Morgan Stanley cut their target price on Amazon.com from $240.00 to $210.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Barclays increased their target price on Amazon.com from $220.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Wedbush reiterated an “outperform” rating and issued a $225.00 target price on shares of Amazon.com in a report on Friday, August 2nd. Finally, Truist Financial increased their target price on Amazon.com from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. One investment analyst has rated the stock with a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $222.84.

Insiders Place Their Bets

In other Amazon.com news, CFO Brian T. Olsavsky sold 14,600 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total value of $2,628,000.00. Following the completion of the transaction, the chief financial officer now owns 49,000 shares in the company, valued at approximately $8,820,000. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the sale, the chief executive officer now owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Brian T. Olsavsky sold 14,600 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the sale, the chief financial officer now owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. The disclosure for this sale can be found here. Insiders sold a total of 6,104,317 shares of company stock worth $1,220,621,322 in the last quarter. 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.