Inlet Private Wealth LLC Purchases 1,295 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Inlet Private Wealth LLC increased its position in Amazon.com, Inc. (NASDAQ:AMZN) by 19.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,849 shares of the e-commerce giant’s stock after buying an additional 1,295 shares during the period. Inlet Private Wealth LLC’s holdings in Amazon.com were worth $1,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. PayPay Securities Corp grew its holdings in Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after buying an additional 64 shares during the last quarter. Hoese & Co LLP acquired a new position in shares of Amazon.com during the third quarter worth approximately $37,000. Christopher J. Hasenberg Inc grew its stake in shares of Amazon.com by 650.0% in the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after acquiring an additional 260 shares during the last quarter. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of Amazon.com in the first quarter worth $69,000. Finally, Innealta Capital LLC bought a new position in Amazon.com during the second quarter worth $77,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insiders Place Their Bets

In other news, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 62,420 shares in the company, valued at $12,171,900. The trade was a 3.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the transaction, the chief executive officer now owns 2,056,534 shares in the company, valued at $371,759,651.18. This represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,053,349 shares of company stock valued at $1,256,503,289. 10.80% of the stock is currently owned by insiders.

Amazon.com Stock Performance

AMZN stock opened at $202.61 on Friday. The company has a 50 day moving average price of $191.16 and a 200 day moving average price of $185.69. Amazon.com, Inc. has a fifty-two week low of $139.52 and a fifty-two week high of $215.90. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The stock has a market capitalization of $2.13 trillion, a PE ratio of 43.39, a price-to-earnings-growth ratio of 1.44 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last released 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 company had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.85 earnings per share. Analysts forecast that Amazon.com, Inc. will post 5.27 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AMZN shares. Maxim Group increased their price target on shares of Amazon.com from $251.00 to $260.00 and gave the company a “buy” rating in a report on Friday, November 1st. Monness Crespi & Hardt lifted their target price on Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. The Goldman Sachs Group boosted their price target on Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Bank of America lifted their price objective on Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Jefferies Financial Group upped their target price on Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $235.45.

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.