Envestnet Asset Management Inc. Has $2.41 Billion Position in Amazon.com, Inc. (NASDAQ:AMZN)

Envestnet Asset Management Inc. grew its position in Amazon.com, Inc. (NASDAQ:AMZN) by 2.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,493,482 shares of the e-commerce giant’s stock after purchasing an additional 307,111 shares during the period. Amazon.com makes up approximately 0.8% of Envestnet Asset Management Inc.’s investment portfolio, making the stock its 18th largest holding. Envestnet Asset Management Inc. owned 0.12% of Amazon.com worth $2,414,365,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in AMZN. Cooksen Wealth LLC bought a new stake in Amazon.com in the fourth quarter valued at approximately $30,000. PayPay Securities Corp boosted its holdings in Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after purchasing an additional 64 shares during the period. Christopher J. Hasenberg Inc raised its holdings in Amazon.com by 650.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after acquiring an additional 260 shares in the last quarter. Steph & Co. bought a new stake in Amazon.com during the first quarter worth about $65,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in Amazon.com in the first quarter valued at approximately $69,000. 72.20% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the transaction, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP David Zapolsky sold 2,190 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the transaction, the senior vice president now directly owns 62,420 shares in the company, valued at $12,171,900. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,355 shares of company stock valued at $9,877,423 in the last quarter. Insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and set a $215.00 price target on shares of Amazon.com in a report on Thursday, October 10th. Cantor Fitzgerald restated an “overweight” rating and issued a $230.00 target price on shares of Amazon.com in a report on Monday, October 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $215.00 price target on shares of Amazon.com in a research note on Friday, August 2nd. Piper Sandler cut their target price on Amazon.com from $220.00 to $215.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, Morgan Stanley reissued an “overweight” rating and set a $210.00 price objective on shares of Amazon.com in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $224.00.

Amazon.com Stock Performance

NASDAQ AMZN opened at $187.54 on Tuesday. The company has a fifty day moving average of $180.11 and a 200-day moving average of $183.24. Amazon.com, Inc. has a 52-week low of $118.35 and a 52-week high of $201.20. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. The company has a market capitalization of $1.95 trillion, a P/E ratio of 52.53, a P/E/G ratio of 1.38 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $148.63 billion. As a group, equities research analysts predict that Amazon.com, Inc. will post 4.85 EPS for the current fiscal year.

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.