Root Financial Partners LLC Acquires New Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Oct 28th, 2023

Root Financial Partners LLC acquired a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,003 shares of the e-commerce giant’s stock, valued at approximately $261,000.

Several other large investors also recently added to or reduced their stakes in AMZN. Laurel Wealth Planning LLC lifted its stake 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 purchasing an additional 304 shares during the last quarter. Sanctuary Wealth Management L.L.C. bought a new stake in Amazon.com during the fourth quarter worth about $37,000. Swaine & Leidel Wealth Services LLC bought a new stake in Amazon.com during the first quarter worth about $38,000. Atlantic Private Wealth LLC bought a new stake in Amazon.com during the first quarter worth about $43,000. Finally, Goodwin Investment Advisory lifted its stake 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 purchasing an additional 380 shares during the last quarter. Institutional investors own 57.96% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AMZN shares. Citigroup lifted their price target on Amazon.com from $145.00 to $167.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. BNP Paribas raised Amazon.com from an “underperform” rating to a “neutral” rating and set a $140.00 price target for the company in a research note on Friday, August 4th. Rosenblatt Securities lifted their price objective on Amazon.com from $184.00 to $185.00 and gave the stock a “buy” rating in a report on Friday. Piper Sandler lifted their price objective on Amazon.com from $175.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, August 24th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $175.00 price objective on shares of Amazon.com in a report on Tuesday, October 17th. Three research analysts have rated the stock with a hold rating and forty-eight have given a buy rating to the stock. Based on data from MarketBeat.com, Amazon.com presently has an average rating of “Moderate Buy” and a consensus price target of $165.70.

Read Our Latest Stock Analysis on AMZN

Insider Activity at Amazon.com

In related news, VP Shelley Reynolds sold 3,100 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $133.87, for a total value of $414,997.00. Following the transaction, the vice president now directly owns 119,780 shares of the company’s stock, valued at approximately $16,034,948.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Shelley Reynolds sold 3,100 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $133.87, for a total value of $414,997.00. Following the transaction, the vice president now directly owns 119,780 shares of the company’s stock, valued at approximately $16,034,948.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Douglas J. Herrington sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $133.55, for a total value of $534,200.00. Following the completion of the transaction, the chief executive officer now directly owns 560,301 shares in the company, valued at $74,828,198.55. 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 $55,208,288. 12.30% of the stock is owned by corporate insiders.

Amazon.com Stock Performance

Shares of AMZN opened at $127.74 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.95 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average price is $132.39 and its 200-day moving average price is $125.38. Amazon.com, Inc. has a 52 week low of $81.43 and a 52 week high of $145.86. The stock has a market cap of $1.32 trillion, a P/E ratio of 100.58, a P/E/G ratio of 1.84 and a beta of 1.24.

Amazon.com (NASDAQ:AMZN – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The e-commerce giant reported $0.63 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 firm had revenue of $134.38 billion for the quarter, compared to analysts’ expectations of $131.54 billion. Equities research analysts anticipate that Amazon.com, Inc. will post 2.24 earnings per share for the current fiscal year.

About Amazon.com

(Free Report)

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.