Parisi Gray Wealth Management Grows Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Parisi Gray Wealth Management increased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 0.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,501 shares of the e-commerce giant’s stock after buying an additional 94 shares during the quarter. Amazon.com accounts for about 1.3% of Parisi Gray Wealth Management’s investment portfolio, making the stock its 24th largest position. Parisi Gray Wealth Management’s holdings in Amazon.com were worth $3,820,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Amazon.com by 1.9% in the first quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after buying an additional 14,724,687 shares during the period. Capital Research Global Investors lifted its holdings in Amazon.com by 8.5% during 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 purchasing an additional 6,810,145 shares in the last quarter. Legal & General Group Plc lifted its holdings in Amazon.com by 1.5% during the second quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock valued at $13,466,933,000 after purchasing an additional 1,042,177 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Amazon.com by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock worth $13,091,909,000 after purchasing an additional 289,532 shares during the period. Finally, Jennison Associates LLC increased its stake in shares of Amazon.com by 0.5% in the first quarter. Jennison Associates LLC now owns 56,666,183 shares of the e-commerce giant’s stock worth $10,221,446,000 after purchasing an additional 295,132 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AMZN. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $230.00 target price on shares of Amazon.com in a report on Monday, October 7th. Sanford C. Bernstein upped their price objective on Amazon.com from $225.00 to $235.00 and gave the stock an “outperform” rating in a research note on Friday. Loop Capital lifted their target price on Amazon.com from $750.00 to $800.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. TD Securities upped their price target on Amazon.com from $225.00 to $245.00 in a research note on Wednesday, July 10th. Finally, JMP Securities increased their price objective on shares of Amazon.com from $265.00 to $285.00 and gave the company a “market outperform” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $246.02.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $197.93 on Friday. 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 stock’s fifty day moving average is $184.82 and its two-hundred day moving average is $183.76. Amazon.com, Inc. has a 52 week low of $136.47 and a 52 week high of $201.20. The company has a market capitalization of $2.08 trillion, a PE ratio of 42.38, a price-to-earnings-growth ratio of 1.46 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The firm had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. During the same period in the prior year, the business posted $0.85 earnings per share. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, analysts expect that Amazon.com, Inc. will post 4.84 earnings per share for the current year.

Insider Transactions at Amazon.com

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 value of $2,628,000.00. Following the completion of the sale, the chief financial officer now owns 49,000 shares in the company, valued at approximately $8,820,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the transaction, the senior vice president now directly owns 62,420 shares in the company, valued at $12,171,900. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian T. Olsavsky sold 14,600 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the completion of the sale, the chief financial officer now owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,855 shares of company stock valued at $9,215,048. 10.80% of the stock is currently owned by company insiders.

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.