Shum Financial Group Inc. Invests $2.11 Million in Amazon.com, Inc. (NASDAQ:AMZN)

Shum Financial Group Inc. acquired a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the 3rd quarter, HoldingsChannel reports. The firm acquired 10,570 shares of the e-commerce giant’s stock, valued at approximately $2,109,000. Amazon.com accounts for approximately 1.8% of Shum Financial Group Inc.’s portfolio, making the stock its 18th largest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMZN. Foundations Investment Advisors LLC lifted its position in shares of Amazon.com by 9.7% during the 3rd quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock worth $34,395,000 after buying an additional 16,392 shares during the last quarter. Umpqua Bank raised its stake in Amazon.com by 0.4% during the third quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock worth $6,544,000 after acquiring an additional 137 shares in the last quarter. Washington Trust Advisors Inc. lifted its holdings in shares of Amazon.com by 0.4% in the third quarter. Washington Trust Advisors Inc. now owns 225,254 shares of the e-commerce giant’s stock worth $41,972,000 after acquiring an additional 982 shares during the last quarter. BayBridge Capital Group LLC boosted its stake in shares of Amazon.com by 51.8% in the 3rd quarter. BayBridge Capital Group LLC now owns 14,368 shares of the e-commerce giant’s stock valued at $2,677,000 after purchasing an additional 4,905 shares in the last quarter. Finally, Zhang Financial LLC grew its holdings in shares of Amazon.com by 12.9% during the 3rd quarter. Zhang Financial LLC now owns 51,091 shares of the e-commerce giant’s stock valued at $9,520,000 after purchasing an additional 5,828 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Jeffrey P. Bezos sold 2,996,362 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $208.85, for a total value of $625,790,203.70. Following the completion of the sale, the insider now directly owns 917,416,976 shares of the company’s stock, valued at $191,602,535,437.60. This represents a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Douglas J. Herrington sold 5,502 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $205.81, for a total value of $1,132,366.62. Following the completion of the transaction, the chief executive officer now owns 518,911 shares in the company, valued at $106,797,072.91. This represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,032,344 shares of company stock worth $1,253,456,822. Insiders own 10.80% of the company’s stock.

Amazon.com Stock Up 1.5 %

AMZN stock opened at $227.61 on Tuesday. The stock’s 50 day simple moving average is $213.85 and its 200 day simple moving average is $194.50. The company has a market cap of $2.39 trillion, a P/E ratio of 48.74, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. Amazon.com, Inc. has a fifty-two week low of $146.15 and a fifty-two week high of $233.00.

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

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Oppenheimer increased their price objective on shares of Amazon.com from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Morgan Stanley increased their price target on Amazon.com from $210.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. TD Cowen boosted their price objective on Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Pivotal Research assumed coverage on Amazon.com in a research report on Friday, October 11th. They issued a “buy” rating and a $260.00 target price for the company. Finally, Piper Sandler boosted their price target on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $243.67.

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.