Prasad Wealth Partners LLC Buys Shares of 39,902 Amazon.com, Inc. (NASDAQ:AMZN)

Prasad Wealth Partners LLC purchased a new stake in Amazon.com, Inc. (NASDAQ:AMZN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 39,902 shares of the e-commerce giant’s stock, valued at approximately $8,754,000. Amazon.com comprises 2.8% of Prasad Wealth Partners LLC’s portfolio, making the stock its 10th biggest position.

A number of other hedge funds have also modified their holdings of the company. BankPlus Trust Department acquired a new position in Amazon.com during the fourth quarter valued at approximately $3,974,000. W.G. Shaheen & Associates DBA Whitney & Co raised its holdings in Amazon.com by 1.4% in the fourth quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 134,266 shares of the e-commerce giant’s stock worth $29,457,000 after purchasing an additional 1,862 shares during the period. Edge Capital Group LLC boosted its position in shares of Amazon.com by 2.2% during the fourth quarter. Edge Capital Group LLC now owns 53,478 shares of the e-commerce giant’s stock worth $11,733,000 after purchasing an additional 1,152 shares in the last quarter. Wealthstream Advisors Inc. grew its holdings in shares of Amazon.com by 6.3% in the 4th quarter. Wealthstream Advisors Inc. now owns 13,261 shares of the e-commerce giant’s stock valued at $2,909,000 after buying an additional 787 shares during the period. Finally, Crestwood Advisors Group LLC increased its position in shares of Amazon.com by 2.3% in the 4th quarter. Crestwood Advisors Group LLC now owns 942,338 shares of the e-commerce giant’s stock valued at $206,740,000 after buying an additional 21,314 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 5,501 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $228.44, for a total transaction of $1,256,648.44. Following the sale, the chief executive officer now owns 505,318 shares of the company’s stock, valued at $115,434,843.92. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Shelley Reynolds sold 8,833 shares of Amazon.com stock in a transaction on Friday, February 21st. The shares were sold at an average price of $222.47, for a total value of $1,965,077.51. Following the completion of the transaction, the vice president now directly owns 119,780 shares of the company’s stock, valued at $26,647,456.60. This represents a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 102,298 shares of company stock valued at $22,871,828. Insiders own 10.80% of the company’s stock.

Amazon.com Stock Performance

NASDAQ AMZN opened at $201.13 on Thursday. The stock has a market cap of $2.13 trillion, a PE ratio of 36.37, a P/E/G ratio of 1.50 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06. The firm has a 50-day moving average of $217.91 and a 200-day moving average of $208.80. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. On average, sell-side analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. HSBC lifted their target price on Amazon.com from $225.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Maxim Group raised their price target on Amazon.com from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Rosenblatt Securities boosted their price objective on Amazon.com from $236.00 to $287.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Mizuho raised their target price on shares of Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $285.00 price target 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 issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $260.65.

Amazon.com 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.