Beta Wealth Group Inc. Has $6.80 Million Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Beta Wealth Group Inc. lowered its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 1.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 36,493 shares of the e-commerce giant’s stock after selling 616 shares during the quarter. Amazon.com comprises about 3.1% of Beta Wealth Group Inc.’s investment portfolio, making the stock its 8th largest position. Beta Wealth Group Inc.’s holdings in Amazon.com were worth $6,800,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in AMZN. Meridian Investment Counsel Inc. lifted its position in shares of Amazon.com by 1.8% in the second 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 in the last quarter. O Connor Financial Group LLC lifted its position in Amazon.com by 2.2% during the 3rd 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 in the last quarter. Cherrydale Wealth Management LLC boosted its stake in shares of Amazon.com by 0.7% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock worth $1,396,000 after buying an additional 55 shares during the last quarter. Cedar Point Capital Partners LLC grew its holdings in shares of Amazon.com by 4.4% in the 3rd 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 in the last quarter. Finally, Mason & Associates Inc raised its holdings in Amazon.com by 0.4% during the second 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 in the last quarter. Institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Performance

Amazon.com stock opened at $220.52 on Thursday. Amazon.com, Inc. has a 1-year low of $144.05 and a 1-year high of $233.00. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $2.32 trillion, a PE ratio of 47.22, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The firm’s 50 day simple moving average is $204.37 and its 200 day simple moving average is $190.75.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The company had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. During the same quarter in the previous year, the firm earned $0.85 earnings per share. Amazon.com’s revenue was up 11.0% on a year-over-year basis. As a group, analysts expect that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AMZN. JMP Securities restated a “market outperform” rating and issued a $285.00 price target on shares of Amazon.com in a research note on Monday. Royal Bank of Canada boosted their target price on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Scotiabank increased their price target on shares of Amazon.com from $245.00 to $246.00 and gave the company a “sector outperform” rating in a research note on Friday, November 1st. TD Cowen raised their target price on shares of Amazon.com from $240.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Rosenblatt Securities lifted their target price on Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $242.00.

Insider Buying and Selling at Amazon.com

In other news, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the transaction, the senior vice president now owns 62,420 shares in the company, valued at approximately $12,171,900. The trade was a 3.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $229.85, for a total value of $1,000,077.35. Following the completion of the transaction, the director now directly owns 88,203 shares in the company, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,034,534 shares of company stock worth $1,253,883,872 over the last ninety days. 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.