Resurgent Financial Advisors LLC Decreases Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Resurgent Financial Advisors LLC reduced its position in Amazon.com, Inc. (NASDAQ:AMZN) by 0.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,838 shares of the e-commerce giant’s stock after selling 145 shares during the period. Amazon.com accounts for about 1.7% of Resurgent Financial Advisors LLC’s investment portfolio, making the stock its 11th biggest position. Resurgent Financial Advisors LLC’s holdings in Amazon.com were worth $2,951,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AMZN. Icon Wealth Advisors LLC raised its position in Amazon.com by 20.5% during the third 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. PayPay Securities Corp grew its stake in shares of Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after buying an additional 64 shares during the last quarter. Hoese & Co LLP bought a new position in shares of Amazon.com during the third quarter valued at approximately $37,000. Bull Oak Capital LLC bought a new position in shares of Amazon.com during the third quarter valued at approximately $45,000. Finally, Values First Advisors Inc. bought a new position in shares of Amazon.com during the third quarter valued at approximately $56,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Piper Sandler upped their target price on Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Tigress Financial upped their target price on Amazon.com from $245.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Robert W. Baird upped their target price on Amazon.com from $220.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Morgan Stanley upped their target price on Amazon.com from $210.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Finally, TD Cowen upped their target price on Amazon.com from $240.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Two analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $243.67.

Amazon.com Stock Performance

Shares of AMZN opened at $218.94 on Friday. Amazon.com, Inc. has a 12 month low of $149.91 and a 12 month high of $233.00. The stock has a fifty day moving average price of $216.20 and a 200-day moving average price of $195.41. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The firm has a market cap of $2.30 trillion, a PE ratio of 46.88, a P/E/G 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, beating the consensus estimate of $1.14 by $0.29. The firm had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.85 EPS. Equities research analysts predict that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the transaction, the director now owns 24,912 shares in the company, valued at $4,958,982.72. This trade represents a 4.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jonathan Rubinstein sold 4,351 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $229.85, for a total value of $1,000,077.35. Following the completion of the transaction, the director now owns 88,203 shares of the company’s stock, valued at $20,273,459.55. This trade represents a 4.70 % 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 in the last 90 days. Insiders own 10.80% of the company’s stock.

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.