Clientfirst Wealth Management LLC acquired a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,620 shares of the e-commerce giant’s stock, valued at approximately $218,000. Amazon.com accounts for about 0.3% of Clientfirst Wealth Management LLC’s investment portfolio, making the stock its 28th largest holding.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in AMZN. Vanguard Group Inc. grew its holdings in shares of Amazon.com by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 701,550,877 shares of the e-commerce giant’s stock valued at $79,275,249,000 after buying an additional 12,456,995 shares during the period. State Street Corp grew its stake in Amazon.com by 1.0% in the third quarter. State Street Corp now owns 329,849,003 shares of the e-commerce giant’s stock valued at $37,272,937,000 after acquiring an additional 3,121,516 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Amazon.com by 1,838.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock valued at $33,134,481,000 after acquiring an additional 295,880,050 shares during the period. FMR LLC increased its holdings in shares of Amazon.com by 1,792.4% in the second quarter. FMR LLC now owns 286,047,356 shares of the e-commerce giant’s stock worth $30,381,089,000 after acquiring an additional 270,931,640 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Amazon.com by 2.3% during the first quarter. Geode Capital Management LLC now owns 165,309,180 shares of the e-commerce giant’s stock worth $17,031,683,000 after purchasing an additional 3,774,390 shares during the period. Institutional investors own 57.96% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on AMZN. JMP Securities increased their target price on Amazon.com from $140.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Rosenblatt Securities raised shares of Amazon.com from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $111.00 to $184.00 in a research report on Friday, August 4th. Needham & Company LLC restated a “buy” rating and set a $160.00 price objective on shares of Amazon.com in a report on Thursday, September 28th. TD Cowen increased their target price on Amazon.com from $150.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Finally, Canaccord Genuity Group boosted their price target on Amazon.com from $160.00 to $170.00 and gave the company a “buy” rating in a report on Friday, August 4th. Three equities research analysts have rated the stock with a hold rating and forty-eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $161.30.
Amazon.com Stock Performance
NASDAQ AMZN opened at $129.48 on Wednesday. Amazon.com, Inc. has a 12-month low of $81.43 and a 12-month high of $145.86. The firm has a 50-day moving average price of $134.49 and a two-hundred day moving average price of $123.46. The company has a market capitalization of $1.34 trillion, a P/E ratio of 101.95, a P/E/G ratio of 1.69 and a beta of 1.24. The company has a quick ratio of 0.70, a current ratio of 0.95 and a debt-to-equity ratio of 0.37.
Amazon.com (NASDAQ:AMZN – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The e-commerce giant reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.29. Amazon.com had a return on equity of 9.14% and a net margin of 2.43%. The business had revenue of $134.38 billion for the quarter, compared to the consensus estimate of $131.54 billion. Analysts anticipate that Amazon.com, Inc. will post 2.23 earnings per share for the current year.
Insider Transactions at Amazon.com
In related news, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $126.64, for a total transaction of $63,320.00. Following the completion of the sale, the chief executive officer now owns 105,520 shares of the company’s stock, valued at $13,363,052.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Amazon Com Inc sold 1,177,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $19.50, for a total transaction of $22,951,500.00. Following the completion of the transaction, the insider now owns 12,741,445 shares of the company’s stock, valued at approximately $248,458,177.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam Selipsky sold 500 shares of the firm’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $126.64, for a total value of $63,320.00. Following the completion of the sale, the chief executive officer now directly owns 105,520 shares in the company, valued at $13,363,052.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,408,645 shares of company stock valued at $55,207,763. 12.30% of the stock is owned by corporate insiders.
Amazon.com Company Profile
Amazon.com, Inc engages in the retail sale of consumer products and subscriptions through online and physical stores in North America and internationally. It operates through three segments: North America, International, and Amazon Web Services (AWS). The company's products offered through its stores include merchandise and content purchased for resale; and products offered by third-party sellers.
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