Lodestone Wealth Management LLC Boosts Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Lodestone Wealth Management LLC lifted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 8.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 10,049 shares of the e-commerce giant’s stock after purchasing an additional 762 shares during the period. Lodestone Wealth Management LLC’s holdings in Amazon.com were worth $1,872,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AMZN. PayPay Securities Corp boosted 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 worth $32,000 after buying an additional 64 shares during the last quarter. Hoese & Co LLP acquired a new stake in Amazon.com in the 3rd quarter worth about $37,000. Bull Oak Capital LLC acquired a new stake in Amazon.com in the 3rd quarter worth about $45,000. Values First Advisors Inc. acquired a new stake in Amazon.com in the 3rd quarter worth about $56,000. Finally, Christopher J. Hasenberg Inc boosted its holdings in Amazon.com by 650.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after buying an additional 260 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Stock Down 0.5 %

Amazon.com stock opened at $225.04 on Wednesday. Amazon.com, Inc. has a twelve month low of $143.64 and a twelve month high of $230.08. The stock’s fifty day simple moving average is $198.19 and its 200-day simple moving average is $188.47. 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 firm has a market capitalization of $2.37 trillion, a P/E ratio of 48.19, a P/E/G ratio of 1.52 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data 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. 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 analyst estimates of $157.28 billion. During the same quarter in the prior year, the company earned $0.85 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. As a group, equities analysts expect that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AMZN. Morgan Stanley lifted their price objective on Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Rosenblatt Securities boosted their target price on Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Wedbush boosted their target price on Amazon.com from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Maxim Group boosted their target price on Amazon.com from $251.00 to $260.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Susquehanna boosted their target price on Amazon.com from $220.00 to $230.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $237.42.

Insider Buying and Selling

In related news, SVP David Zapolsky sold 2,190 shares of the business’s 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 completion of the transaction, the senior vice president now owns 62,420 shares in the company, valued at approximately $12,171,900. The trade was a 3.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $210.00, for a total transaction of $735,000.00. Following the transaction, the chief executive officer now owns 524,567 shares of the company’s stock, valued at approximately $110,159,070. The trade was a 0.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,030,183 shares of company stock worth $1,252,883,795. Corporate insiders own 10.80% of the company’s stock.

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.