McGrath & Associates Inc. Invests $347,000 in Amazon.com, Inc. (NASDAQ:AMZN)

McGrath & Associates Inc. purchased a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 1,580 shares of the e-commerce giant’s stock, valued at approximately $347,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Accordant Advisory Group Inc increased its holdings 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 in the last quarter. Compass Planning Associates Inc acquired a new position in Amazon.com during the fourth quarter worth about $51,000. Quattro Financial Advisors LLC increased its holdings in Amazon.com by 23.8% in the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock valued at $51,000 after buying an additional 45 shares in the last quarter. Iron Horse Wealth Management LLC lifted its position in shares of Amazon.com by 64.4% during the 4th quarter. Iron Horse Wealth Management LLC now owns 286 shares of the e-commerce giant’s stock valued at $63,000 after acquiring an additional 112 shares during the period. Finally, Sycomore Asset Management boosted its stake in shares of Amazon.com by 100.0% during the 4th quarter. Sycomore Asset Management now owns 300 shares of the e-commerce giant’s stock worth $66,000 after acquiring an additional 150 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. TD Cowen lifted their price objective on Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Loop Capital boosted their price objective on shares of Amazon.com from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Cantor Fitzgerald restated an “overweight” rating and set a $270.00 target price on shares of Amazon.com in a report on Friday, February 7th. Wolfe Research upped their price target on shares of Amazon.com from $250.00 to $270.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, Benchmark raised their price objective on shares of Amazon.com from $215.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $260.65.

Amazon.com Trading Down 4.3 %

AMZN opened at $192.72 on Monday. The firm’s 50 day moving average is $216.86 and its 200-day moving average is $209.25. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $2.04 trillion, a P/E ratio of 34.85, a P/E/G ratio of 1.50 and a beta of 1.19.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results 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%. Analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Douglas J. Herrington sold 27,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $230.27, for a total transaction of $6,332,425.00. Following the completion of the sale, the chief executive officer now owns 497,067 shares of the company’s stock, valued at approximately $114,459,618.09. This trade represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP David Zapolsky sold 19,212 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $217.50, for a total transaction of $4,178,610.00. Following the transaction, the senior vice president now owns 49,950 shares in the company, valued at $10,864,125. This trade represents a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 102,298 shares of company stock worth $22,871,828. 10.80% of the stock is currently owned by corporate insiders.

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.