Blodgett Wealth Advisors LLC decreased its position in Amazon.com, Inc. (NASDAQ:AMZN) by 0.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,881 shares of the e-commerce giant’s stock after selling 219 shares during the period. Amazon.com comprises 4.3% of Blodgett Wealth Advisors LLC’s portfolio, making the stock its 6th largest holding. Blodgett Wealth Advisors LLC’s holdings in Amazon.com were worth $4,156,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Laurel Wealth Planning LLC boosted its holdings in Amazon.com by 1,900.0% during the second quarter. Laurel Wealth Planning LLC now owns 320 shares of the e-commerce giant’s stock worth $34,000 after buying an additional 304 shares in the last quarter. Sanctuary Wealth Management L.L.C. purchased a new stake in Amazon.com during the fourth quarter worth about $37,000. Swaine & Leidel Wealth Services LLC purchased a new stake in Amazon.com during the first quarter worth about $38,000. Atlantic Private Wealth LLC purchased a new stake in Amazon.com during the first quarter worth about $43,000. Finally, Goodwin Investment Advisory boosted its holdings in Amazon.com by 1,225.8% during the second quarter. Goodwin Investment Advisory now owns 411 shares of the e-commerce giant’s stock worth $44,000 after buying an additional 380 shares in the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts recently commented on AMZN shares. JMP Securities reissued a “market outperform” rating and set a $175.00 price objective on shares of Amazon.com in a report on Monday, October 16th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $175.00 target price on shares of Amazon.com in a research report on Tuesday, October 17th. StockNews.com cut shares of Amazon.com from a “buy” rating to a “hold” rating in a research report on Tuesday. BNP Paribas upgraded shares of Amazon.com from an “underperform” rating to a “neutral” rating and set a $140.00 target price for the company in a research report on Friday, August 4th. Finally, Susquehanna lifted their target price on shares of Amazon.com from $150.00 to $185.00 and gave the stock a “positive” rating in a research report on Friday, August 4th. Three research analysts have rated the stock with a hold rating and forty-eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $165.21.
Amazon.com Price Performance
Shares of AMZN stock opened at $119.57 on Friday. The company has a market capitalization of $1.23 trillion, a PE ratio of 94.15, a price-to-earnings-growth ratio of 1.95 and a beta of 1.24. The firm has a fifty day simple moving average of $132.39 and a 200-day simple moving average of $125.38. The company has a current ratio of 0.95, a quick ratio of 0.70 and a debt-to-equity ratio of 0.37. Amazon.com, Inc. has a twelve month low of $81.43 and a twelve month high of $145.86.
Amazon.com (NASDAQ:AMZN – Get Free Report) last announced its earnings results on Thursday, August 3rd. The e-commerce giant reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.29. The business had revenue of $134.38 billion during the quarter, compared to the consensus estimate of $131.54 billion. Amazon.com had a net margin of 2.43% and a return on equity of 9.14%. Equities research analysts anticipate that Amazon.com, Inc. will post 2.24 earnings per share for the current fiscal year.
Insider Activity
In other news, major shareholder Amazon Com Inc sold 1,177,000 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $19.50, for a total value of $22,951,500.00. Following the completion of the transaction, the insider now directly owns 12,741,445 shares in the company, valued at $248,458,177.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Amazon Com Inc sold 1,177,000 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $19.50, for a total value of $22,951,500.00. Following the sale, the insider now directly owns 12,741,445 shares of the company’s stock, valued at $248,458,177.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $138.48, for a total transaction of $69,240.00. Following the completion of the sale, the chief executive officer now directly owns 106,520 shares in the company, valued at $14,750,889.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,408,645 shares of company stock worth $55,208,288. 12.30% of the stock is currently owned by company 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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