Primoris Wealth Advisors LLC Has $5.59 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Primoris Wealth Advisors LLC raised its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 15.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 28,903 shares of the e-commerce giant’s stock after purchasing an additional 3,772 shares during the quarter. Amazon.com accounts for about 4.5% of Primoris Wealth Advisors LLC’s investment portfolio, making the stock its 2nd biggest position. Primoris Wealth Advisors LLC’s holdings in Amazon.com were worth $5,586,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. USA Financial Formulas increased its position in shares of Amazon.com by 626.2% during the fourth quarter. USA Financial Formulas now owns 19,941 shares of the e-commerce giant’s stock valued at $3,030,000 after purchasing an additional 17,195 shares during the period. Forum Financial Management LP lifted its position in Amazon.com by 9.9% in the fourth quarter. Forum Financial Management LP now owns 97,849 shares of the e-commerce giant’s stock worth $14,867,000 after purchasing an additional 8,796 shares during the period. Ieq Capital LLC increased its holdings in Amazon.com by 3.1% in the 4th quarter. Ieq Capital LLC now owns 1,086,664 shares of the e-commerce giant’s stock valued at $165,108,000 after buying an additional 33,010 shares during the period. Checchi Capital Advisers LLC raised its stake in shares of Amazon.com by 5.1% in the 4th quarter. Checchi Capital Advisers LLC now owns 77,469 shares of the e-commerce giant’s stock valued at $11,771,000 after buying an additional 3,794 shares in the last quarter. Finally, Wambolt & Associates LLC lifted its holdings in shares of Amazon.com by 2.4% during the 4th quarter. Wambolt & Associates LLC now owns 7,616 shares of the e-commerce giant’s stock worth $1,157,000 after acquiring an additional 178 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Benchmark reissued a “buy” rating and issued a $200.00 target price on shares of Amazon.com in a research note on Friday, August 2nd. Piper Sandler dropped their target price on Amazon.com from $220.00 to $215.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Morgan Stanley decreased their price target on Amazon.com from $240.00 to $210.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Truist Financial increased their price objective on Amazon.com from $230.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Itau BBA Securities lowered shares of Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 target price on the stock. in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $223.65.

Amazon.com Trading Down 0.9 %

Shares of NASDAQ AMZN opened at $186.33 on Tuesday. Amazon.com, Inc. has a twelve month low of $118.35 and a twelve month high of $201.20. The stock has a market cap of $1.94 trillion, a price-to-earnings ratio of 52.19, a P/E/G ratio of 1.46 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The company’s fifty day moving average is $179.00 and its 200-day moving average is $182.74.

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 the consensus estimate of $1.05 by $0.18. The business had revenue of $147.98 billion during the quarter, compared to analyst estimates of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. Equities research analysts predict that Amazon.com, Inc. will post 4.86 EPS for the current year.

Insider Activity at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 3,085,116 shares of the stock in a transaction on Friday, July 5th. The shares were sold at an average price of $200.07, for a total value of $617,239,158.12. Following the completion of the sale, the insider now owns 931,925,277 shares in the company, valued at $186,450,290,169.39. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Brian T. Olsavsky sold 14,600 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the transaction, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffrey P. Bezos sold 3,085,116 shares of Amazon.com stock in a transaction on 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 transaction, the insider now directly owns 931,925,277 shares of the company’s stock, valued at $186,450,290,169.39. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,634,860 shares of company stock valued at $926,639,482. Insiders own 10.80% of the company’s stock.

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.