Elk River Wealth Management LLC Buys 558 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Elk River Wealth Management LLC lifted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 77,182 shares of the e-commerce giant’s stock after acquiring an additional 558 shares during the period. Amazon.com comprises 2.6% of Elk River Wealth Management LLC’s investment portfolio, making the stock its 12th largest position. Elk River Wealth Management LLC’s holdings in Amazon.com were worth $14,381,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Amazon.com by 0.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,847,177 shares of the e-commerce giant’s stock worth $550,217,000 after purchasing an additional 14,766 shares during the last quarter. GAMMA Investing LLC boosted its position in Amazon.com by 19.2% during the 3rd quarter. GAMMA Investing LLC now owns 119,205 shares of the e-commerce giant’s stock worth $22,211,000 after buying an additional 19,231 shares during the period. Stonekeep Investments LLC bought a new stake in Amazon.com during the 2nd quarter worth approximately $2,588,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in Amazon.com by 164.1% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,053,958 shares of the e-commerce giant’s stock valued at $203,677,000 after acquiring an additional 654,908 shares during the period. Finally, Rockport Wealth LLC raised its stake in shares of Amazon.com by 2,240.6% during the second quarter. Rockport Wealth LLC now owns 76,749 shares of the e-commerce giant’s stock valued at $14,832,000 after acquiring an additional 73,470 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $206.84 on Tuesday. The company has a 50 day moving average of $187.83 and a 200 day moving average of $184.71. 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 stock has a market cap of $2.17 trillion, a P/E ratio of 44.29, a P/E/G ratio of 1.40 and a beta of 1.14. Amazon.com, Inc. has a 12 month low of $139.52 and a 12 month high of $212.25.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The business had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 EPS. As a group, sell-side analysts forecast that Amazon.com, Inc. will post 5.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jonathan Rubinstein sold 5,004 shares of Amazon.com stock in a transaction on Friday, November 1st. The shares were sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the completion of the sale, the director now directly owns 99,396 shares of the company’s stock, valued at approximately $19,864,290.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Amazon.com news, Director Jonathan Rubinstein sold 5,004 shares of Amazon.com stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the transaction, the director now directly owns 99,396 shares of the company’s stock, valued at approximately $19,864,290.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP David Zapolsky sold 2,190 shares of the stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the transaction, the senior vice president now directly owns 62,420 shares in the company, valued at approximately $12,171,900. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,859 shares of company stock valued at $10,215,097 in the last quarter. Corporate insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on AMZN shares. BMO Capital Markets reissued an “outperform” rating and issued a $236.00 price objective (up previously from $230.00) on shares of Amazon.com in a research note on Friday, November 1st. JMP Securities increased their price target on Amazon.com from $265.00 to $285.00 and gave the company a “market outperform” rating in a research note on Friday, November 1st. Evercore ISI upped their target price on Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Stifel Nicolaus raised their price target on shares of Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Rosenblatt Securities upped their price objective on shares of Amazon.com from $221.00 to $236.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and an average target price of $234.55.

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.