Drive Wealth Management LLC Boosts Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Drive Wealth Management LLC raised its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,618 shares of the e-commerce giant’s stock after buying an additional 491 shares during the quarter. Amazon.com comprises 1.5% of Drive Wealth Management LLC’s portfolio, making the stock its 13th biggest holding. Drive Wealth Management LLC’s holdings in Amazon.com were worth $5,530,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Cooksen Wealth LLC purchased a new position in shares of Amazon.com in the 4th quarter worth approximately $30,000. Clarity Asset Management Inc. bought a new stake in shares of Amazon.com during the fourth quarter worth $46,000. Christopher J. Hasenberg Inc lifted its holdings in Amazon.com by 650.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after buying an additional 260 shares in the last quarter. Steph & Co. purchased a new stake in Amazon.com in the 1st quarter valued at about $65,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in Amazon.com in the first quarter worth approximately $69,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Truist Financial lifted their target price on Amazon.com from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Benchmark reaffirmed a “buy” rating and set a $200.00 price objective on shares of Amazon.com in a research report on Friday, August 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $230.00 price objective on shares of Amazon.com in a research note on Monday, September 23rd. Morgan Stanley decreased their price target on Amazon.com from $240.00 to $210.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Finally, Barclays upped their price objective 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 equities research analyst has rated the stock with a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $222.84.

Amazon.com Trading Down 1.7 %

Shares of AMZN opened at $187.97 on Monday. The stock has a market cap of $1.96 trillion, a PE ratio of 52.65, a P/E/G ratio of 1.46 and a beta of 1.14. Amazon.com, Inc. has a 12 month low of $118.35 and a 12 month high of $201.20. The stock’s 50-day moving average is $178.92 and its two-hundred day moving average is $182.68. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88.

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

Insider Buying and Selling

In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the completion of the transaction, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the sale, the chief executive officer now owns 2,056,534 shares in the company, valued at $371,759,651.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Shelley Reynolds sold 3,791 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 121,461 shares of the company’s stock, valued at $21,989,299.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,098,297 shares of company stock worth $1,219,443,957. Insiders own 10.80% of the company’s stock.

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.