Morris Financial Concepts Inc. Acquires 502 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Morris Financial Concepts Inc. raised its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 45.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,613 shares of the e-commerce giant’s stock after buying an additional 502 shares during the quarter. Morris Financial Concepts Inc.’s holdings in Amazon.com were worth $354,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Accordant Advisory Group Inc lifted its stake in shares of Amazon.com by 400.0% in the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock valued at $27,000 after purchasing an additional 100 shares during the period. Icon Wealth Advisors LLC lifted its stake in shares of Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after purchasing an additional 25,581 shares during the period. Bull Oak Capital LLC purchased a new position in shares of Amazon.com in the 3rd quarter valued at approximately $45,000. Quattro Financial Advisors LLC lifted its stake in shares of Amazon.com by 23.8% in the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock valued at $51,000 after purchasing an additional 45 shares during the period. Finally, Values First Advisors Inc. purchased a new position in shares of Amazon.com in the 3rd quarter valued at approximately $56,000. 72.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP Shelley Reynolds sold 8,833 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $222.47, for a total value of $1,965,077.51. Following the sale, the vice president now directly owns 119,780 shares in the company, valued at approximately $26,647,456.60. The trade was a 6.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David Zapolsky sold 19,212 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $217.50, for a total value of $4,178,610.00. Following the completion of the sale, the senior vice president now owns 49,950 shares in the company, valued at $10,864,125. This represents a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 102,298 shares of company stock worth $22,871,828. Corporate insiders own 10.80% of the company’s stock.

Amazon.com Price Performance

Shares of Amazon.com stock opened at $196.59 on Wednesday. The stock’s 50-day simple moving average is $223.12 and its 200-day simple moving average is $207.25. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52. The company has a market capitalization of $2.08 trillion, a price-to-earnings ratio of 35.55, a PEG ratio of 1.50 and a beta of 1.19. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. As a group, analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on AMZN. JMP Securities restated a “market outperform” rating and issued a $285.00 target price on shares of Amazon.com in a research note on Friday, February 7th. TD Cowen lifted their price objective on Amazon.com from $240.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. HSBC lifted their price objective on Amazon.com from $225.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. lifted their price objective on Amazon.com from $250.00 to $280.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, Piper Sandler restated an “overweight” rating and issued a $265.00 price target (up previously from $225.00) on shares of Amazon.com in a research note on Friday, February 7th. Two investment analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued 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 $260.65.

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.