Global Trust Asset Management LLC Increases Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Global Trust Asset Management LLC lifted its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 22.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,198 shares of the e-commerce giant’s stock after purchasing an additional 3,456 shares during the quarter. Amazon.com comprises about 1.3% of Global Trust Asset Management LLC’s portfolio, making the stock its 15th largest holding. Global Trust Asset Management LLC’s holdings in Amazon.com were worth $3,577,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMZN. Garrison Point Advisors LLC raised its holdings in Amazon.com by 0.3% in the 1st quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock valued at $3,675,000 after buying an additional 55 shares during the period. Meridian Investment Counsel Inc. increased its stake in Amazon.com by 1.8% during the second quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock worth $594,000 after purchasing an additional 55 shares during the period. O Connor Financial Group LLC increased its stake in Amazon.com by 2.2% during the third quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock worth $473,000 after purchasing an additional 55 shares during the period. Cherrydale Wealth Management LLC increased its stake in Amazon.com by 0.7% during the third quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock worth $1,396,000 after purchasing an additional 55 shares during the period. Finally, Mason & Associates Inc increased its stake in Amazon.com by 0.4% during the second quarter. Mason & Associates Inc now owns 13,427 shares of the e-commerce giant’s stock worth $2,595,000 after purchasing an additional 57 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMZN has been the topic of a number of recent research reports. Scotiabank boosted their price target on shares of Amazon.com from $245.00 to $246.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Amazon.com from $225.00 to $232.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Truist Financial boosted their price target on shares of Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Moffett Nathanson boosted their price target on shares of Amazon.com from $235.00 to $248.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Roth Mkm boosted their price objective on Amazon.com from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Amazon.com currently has an average rating of “Moderate Buy” and a consensus target price of $236.20.

Insider Activity

In other news, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction dated 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 approximately $191,602,535,437.60. This represents a 0.33 % decrease in their position. 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 company’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the sale, the senior vice president now owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. This trade represents a 3.39 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,026,683 shares of company stock worth $1,252,148,795. 10.80% of the stock is owned by corporate insiders.

Amazon.com Stock Down 1.0 %

Shares of Amazon.com stock opened at $205.74 on Thursday. The stock’s fifty day moving average is $194.14 and its 200-day moving average is $186.66. The firm has a market capitalization of $2.16 trillion, a PE ratio of 44.06, a price-to-earnings-growth ratio of 1.35 and a beta of 1.14. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Amazon.com, Inc. has a 12-month low of $142.81 and a 12-month high of $215.90.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. During the same quarter in the previous year, the company posted $0.85 earnings per share. Amazon.com’s revenue for the quarter was up 11.0% compared to the same quarter last year. Equities analysts anticipate that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

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.