Circle Wealth Management LLC Boosts Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Circle Wealth Management LLC grew its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 287,562 shares of the e-commerce giant’s stock after acquiring an additional 3,908 shares during the period. Amazon.com accounts for approximately 1.2% of Circle Wealth Management LLC’s portfolio, making the stock its 12th largest holding. Circle Wealth Management LLC’s holdings in Amazon.com were worth $53,581,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Icon Wealth Advisors LLC increased its holdings in shares of Amazon.com by 20.5% in the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after purchasing an additional 25,581 shares during the period. PayPay Securities Corp increased its holdings in shares of Amazon.com by 64.6% in the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares during the period. Hoese & Co LLP bought a new position in shares of Amazon.com in the third quarter worth $37,000. Bull Oak Capital LLC bought a new position in shares of Amazon.com in the third quarter worth $45,000. Finally, Values First Advisors Inc. bought a new position in shares of Amazon.com in the third quarter worth $56,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insiders Place Their Bets

In other Amazon.com news, Director Jonathan Rubinstein sold 5,004 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the completion of the transaction, the director now owns 99,396 shares of the company’s stock, valued at approximately $19,864,290.60. This trade represents a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the transaction, the director now directly owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,032,344 shares of company stock worth $1,253,456,822 over the last three months. Company insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on AMZN. Maxim Group upped their price target on shares of Amazon.com from $251.00 to $260.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Evercore ISI upped their price target on shares of Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft upped their price target on shares of Amazon.com from $225.00 to $232.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Redburn Atlantic increased their target price on Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Truist Financial increased their target price on Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $243.67.

Amazon.com Stock Performance

Shares of AMZN opened at $222.13 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. Amazon.com, Inc. has a one year low of $148.21 and a one year high of $233.00. The company has a 50-day simple moving average of $215.07 and a two-hundred day simple moving average of $194.92. The firm has a market capitalization of $2.34 trillion, a PE ratio of 47.57, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14.

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