Means Investment CO. Inc. Boosts Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Means Investment CO. Inc. grew its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 0.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 239,524 shares of the e-commerce giant’s stock after acquiring an additional 827 shares during the quarter. Amazon.com accounts for approximately 5.0% of Means Investment CO. Inc.’s investment portfolio, making the stock its 7th biggest position. Means Investment CO. Inc.’s holdings in Amazon.com were worth $44,631,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. New Century Financial Group LLC raised its stake in Amazon.com by 24.5% in the 3rd quarter. New Century Financial Group LLC now owns 16,771 shares of the e-commerce giant’s stock worth $3,125,000 after purchasing an additional 3,298 shares in the last quarter. Powers Advisory Group LLC increased its holdings in shares of Amazon.com by 2.2% during the third quarter. Powers Advisory Group LLC now owns 5,487 shares of the e-commerce giant’s stock worth $1,022,000 after purchasing an additional 120 shares during the period. Resonant Capital Advisors LLC raised its position in shares of Amazon.com by 4.2% in the third quarter. Resonant Capital Advisors LLC now owns 43,459 shares of the e-commerce giant’s stock valued at $8,098,000 after buying an additional 1,745 shares in the last quarter. Veracity Capital LLC boosted its stake in shares of Amazon.com by 1.3% in the third quarter. Veracity Capital LLC now owns 20,297 shares of the e-commerce giant’s stock valued at $3,782,000 after buying an additional 269 shares during the period. Finally, Verde Capital Management grew its position in Amazon.com by 5.1% during the third quarter. Verde Capital Management now owns 16,011 shares of the e-commerce giant’s stock worth $2,983,000 after buying an additional 781 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Stock Performance

AMZN stock opened at $202.88 on Thursday. The firm has a market cap of $2.13 trillion, a PE ratio of 43.44, a price-to-earnings-growth ratio of 1.36 and a beta of 1.14. 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 50-day moving average price of $192.56 and a 200-day moving average price of $186.18. Amazon.com, Inc. has a 1-year low of $141.50 and a 1-year high of $215.90.

Amazon.com (NASDAQ:AMZN) last issued 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 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 revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 earnings per share. As a group, equities research analysts expect that Amazon.com, Inc. will post 5.27 earnings per share for the current year.

Insider Activity at Amazon.com

In other news, insider Jeffrey P. Bezos sold 2,996,362 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the completion of the sale, the insider now owns 917,416,976 shares in the company, valued at $191,602,535,437.60. The trade was a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jonathan Rubinstein sold 4,766 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $209.85, for a total value of $1,000,145.10. Following the completion of the transaction, the director now owns 94,630 shares in the company, valued at approximately $19,858,105.50. This represents a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,011,423 shares of company stock worth $1,249,093,896 in the last quarter. Company insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AMZN shares. Benchmark upped their target price on Amazon.com from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Piper Sandler upped their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Wells Fargo & Company reissued an “equal weight” rating and issued a $197.00 target price on shares of Amazon.com in a report on Wednesday. Susquehanna upped their price target on shares of Amazon.com from $220.00 to $230.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Finally, Monness Crespi & Hardt lifted their price objective on shares of Amazon.com from $225.00 to $245.00 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.77.

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.