Keystone Financial Services Boosts Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Keystone Financial Services raised its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 23.0% during the third quarter, HoldingsChannel.com reports. The firm owned 1,596 shares of the e-commerce giant’s stock after buying an additional 298 shares during the period. Keystone Financial Services’ holdings in Amazon.com were worth $297,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PayPay Securities Corp raised its stake in Amazon.com by 64.6% during the second 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 in the last quarter. Hoese & Co LLP acquired a new stake in shares of Amazon.com during the 3rd quarter valued at approximately $37,000. Bull Oak Capital LLC bought a new position in Amazon.com during the third quarter worth $45,000. Values First Advisors Inc. acquired a new position in Amazon.com in the third quarter worth $56,000. Finally, Christopher J. Hasenberg Inc increased its stake in Amazon.com by 650.0% during the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after purchasing an additional 260 shares during the last quarter. 72.20% of the stock is currently 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. Truist Financial raised their price target on shares of Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. BMO Capital Markets reissued an “outperform” rating and issued a $236.00 target price on shares of Amazon.com in a report on Tuesday, December 3rd. Loop Capital lifted their target price on Amazon.com from $225.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. JMP Securities reiterated a “market outperform” rating and set a $285.00 price target on shares of Amazon.com in a research report on Monday, December 16th. Finally, Needham & Company LLC restated a “buy” rating and set a $250.00 price objective on shares of Amazon.com in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Amazon.com currently has a consensus rating of “Moderate Buy” and an average target price of $243.00.

Amazon.com Stock Performance

Shares of NASDAQ AMZN opened at $224.92 on Friday. Amazon.com, Inc. has a 52-week low of $144.05 and a 52-week high of $233.00. The stock has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 48.16, a PEG ratio of 1.54 and a beta of 1.16. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The stock’s fifty day simple moving average is $205.83 and its 200 day simple moving average is $191.38.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm 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 earned $0.85 EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP David Zapolsky sold 2,190 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the sale, the senior vice president now owns 62,420 shares of the company’s stock, valued at $12,171,900. This trade represents a 3.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com stock in a transaction on Monday, December 9th. The shares were sold at an average price of $229.85, for a total value of $1,000,077.35. Following the transaction, the director now owns 88,203 shares in the company, valued at $20,273,459.55. This represents a 4.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,034,534 shares of company stock valued at $1,253,883,872. Company insiders own 10.80% of the company’s stock.

Amazon.com Company 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.