Amazon.com, Inc. (NASDAQ:AMZN) Shares Acquired by Galvin Gaustad & Stein LLC

Galvin Gaustad & Stein LLC raised its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 13.6% in the third quarter, Holdings Channel reports. The institutional investor owned 139,285 shares of the e-commerce giant’s stock after buying an additional 16,727 shares during the quarter. Amazon.com accounts for about 2.3% of Galvin Gaustad & Stein LLC’s portfolio, making the stock its 8th biggest holding. Galvin Gaustad & Stein LLC’s holdings in Amazon.com were worth $25,953,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of AMZN. Meridian Investment Counsel Inc. raised its holdings in Amazon.com by 1.8% during the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock worth $594,000 after purchasing an additional 55 shares during the last quarter. O Connor Financial Group LLC raised its stake in shares of Amazon.com by 2.2% during the third quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock worth $473,000 after buying an additional 55 shares during the last quarter. Cherrydale Wealth Management LLC lifted its holdings in Amazon.com by 0.7% in the third quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock valued at $1,396,000 after buying an additional 55 shares during the period. Cedar Point Capital Partners LLC boosted its stake in Amazon.com by 4.4% in the third quarter. Cedar Point Capital Partners LLC now owns 1,324 shares of the e-commerce giant’s stock valued at $247,000 after acquiring an additional 56 shares during the last quarter. Finally, Mason & Associates Inc grew its holdings in Amazon.com by 0.4% during the 2nd quarter. Mason & Associates Inc now owns 13,427 shares of the e-commerce giant’s stock worth $2,595,000 after acquiring an additional 57 shares during the period. 72.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AMZN has been the topic of a number of analyst reports. Benchmark increased their price target on Amazon.com from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. increased their target price on Amazon.com from $230.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Roth Mkm boosted their target price on Amazon.com from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Needham & Company LLC reiterated a “buy” rating and issued a $250.00 price target on shares of Amazon.com in a research report on Tuesday, December 10th. Finally, Piper Sandler boosted their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $240.67.

Amazon.com Stock Performance

Shares of NASDAQ AMZN opened at $231.15 on Wednesday. The stock has a market capitalization of $2.43 trillion, a PE ratio of 49.50, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. Amazon.com, Inc. has a 52 week low of $144.05 and a 52 week high of $233.00. The stock has a 50 day moving average price of $203.67 and a 200 day moving average price of $190.54. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same period last year, the business earned $0.85 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. Analysts predict that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Jonathan Rubinstein sold 4,351 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $229.85, for a total value of $1,000,077.35. Following the transaction, the director now directly owns 88,203 shares of the company’s stock, valued at $20,273,459.55. This represents a 4.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas J. Herrington sold 5,502 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $205.81, for a total transaction of $1,132,366.62. Following the sale, the chief executive officer now owns 518,911 shares of the company’s stock, valued at approximately $106,797,072.91. This represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,034,534 shares of company stock valued at $1,253,883,872 in the last quarter. Company 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.