Prosperity Consulting Group LLC Has $9.24 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Prosperity Consulting Group LLC lowered its position in Amazon.com, Inc. (NASDAQ:AMZN) by 14.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 47,795 shares of the e-commerce giant’s stock after selling 8,177 shares during the period. Amazon.com accounts for 1.3% of Prosperity Consulting Group LLC’s portfolio, making the stock its 13th largest holding. Prosperity Consulting Group LLC’s holdings in Amazon.com were worth $9,236,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Amazon.com by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after purchasing an additional 14,724,687 shares during the period. Swedbank AB acquired a new stake in shares of Amazon.com in the 1st quarter valued at $2,239,757,000. Capital World Investors raised its stake in shares of Amazon.com by 64.6% in the first quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock valued at $5,295,899,000 after acquiring an additional 11,524,463 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Amazon.com by 8.5% in the first quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock valued at $15,689,968,000 after buying an additional 6,810,145 shares in the last quarter. Finally, Global Assets Advisory LLC grew its stake in shares of Amazon.com by 30,350.2% during the first quarter. Global Assets Advisory LLC now owns 6,531,569 shares of the e-commerce giant’s stock valued at $1,178,164,000 after purchasing an additional 6,510,119 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on AMZN shares. TD Securities lifted their price target on shares of Amazon.com from $225.00 to $245.00 in a research report on Wednesday, July 10th. Evercore ISI reiterated an “outperform” rating and set a $240.00 target price on shares of Amazon.com in a report on Friday. Wells Fargo & Company lowered shares of Amazon.com from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $225.00 to $183.00 in a research note on Monday, October 7th. Robert W. Baird boosted their target price on shares of Amazon.com from $210.00 to $213.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. Finally, Truist Financial upped their price objective on shares of Amazon.com from $230.00 to $265.00 and gave the company a “buy” rating in a report on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $224.00.

Insider Activity at Amazon.com

In other news, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $189.25, for a total value of $662,375.00. Following the transaction, the chief executive officer now owns 503,753 shares in the company, valued at $95,335,255.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other 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 completion of the transaction, the chief executive officer now directly owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $189.25, for a total value of $662,375.00. Following the completion of the sale, the chief executive officer now owns 503,753 shares in the company, valued at $95,335,255.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,355 shares of company stock valued at $9,877,423. 10.80% of the stock is owned by corporate insiders.

Amazon.com Trading Down 0.7 %

NASDAQ AMZN opened at $187.54 on Tuesday. The business’s 50-day moving average price is $180.11 and its two-hundred day moving average price is $183.24. 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 12 month low of $118.35 and a 12 month high of $201.20. The firm has a market capitalization of $1.95 trillion, a PE ratio of 52.53, a price-to-earnings-growth ratio of 1.38 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The firm had revenue of $147.98 billion during the quarter, compared to the consensus estimate of $148.63 billion. On average, analysts expect that Amazon.com, Inc. will post 4.85 EPS for the current year.

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.