Financial Solutions Advisory Group Inc. Invests $1.87 Million in Amazon.com, Inc. $AMZN

Financial Solutions Advisory Group Inc. acquired a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 8,963 shares of the e-commerce giant’s stock, valued at approximately $1,867,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AMZN. MilWealth Group LLC lifted its holdings in shares of Amazon.com by 79.0% during the 4th quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant’s stock valued at $41,000 after purchasing an additional 79 shares during the last quarter. Lifetime Wealth Management P.C. acquired a new stake in shares of Amazon.com in the 4th quarter worth $45,000. Elkhorn Partners Limited Partnership grew its stake in Amazon.com by 900.0% during the 4th quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant’s stock worth $46,000 after buying an additional 180 shares during the last quarter. Fairway Wealth LLC grew its stake in Amazon.com by 95.6% during the 4th quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant’s stock worth $51,000 after buying an additional 108 shares during the last quarter. Finally, Prudent Man Investment Management Inc. increased its position in Amazon.com by 87.7% during the 4th quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant’s stock valued at $53,000 after buying an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on AMZN. BNP Paribas Exane increased their price target on Amazon.com from $320.00 to $345.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. BMO Capital Markets restated an “outperform” rating and set a $360.00 price target (up from $355.00) on shares of Amazon.com in a research note on Tuesday, July 28th. Telsey Advisory Group set a $335.00 price objective on shares of Amazon.com and gave the company an “outperform” rating in a report on Friday, July 31st. DZ Bank increased their price objective on shares of Amazon.com from $295.00 to $320.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $300.00 target price on shares of Amazon.com in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, fifty-six have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Amazon.com presently has an average rating of “Moderate Buy” and an average price target of $322.56.

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Amazon.com News Roundup

Here are the key news stories impacting Amazon.com this week:

Amazon.com Trading Down 0.8%

Shares of NASDAQ:AMZN opened at $265.13 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.03 and a debt-to-equity ratio of 0.23. Amazon.com, Inc. has a 52-week low of $196.00 and a 52-week high of $287.20. The stock has a market cap of $2.86 trillion, a price-to-earnings ratio of 21.33, a PEG ratio of 1.78 and a beta of 1.45. The business has a 50-day moving average price of $247.57 and a 200-day moving average price of $238.49.

Amazon.com (NASDAQ:AMZNGet Free Report) last issued its quarterly earnings results on Thursday, July 30th. The e-commerce giant reported $5.75 earnings per share for the quarter, topping the consensus estimate of $1.82 by $3.93. Amazon.com had a net margin of 17.44% and a return on equity of 18.00%. The company had revenue of $200.61 billion for the quarter, compared to the consensus estimate of $197.03 billion. During the same quarter in the prior year, the company earned $1.68 EPS. Amazon.com’s quarterly revenue was up 19.6% on a year-over-year basis. Equities analysts predict that Amazon.com, Inc. will post 8.05 EPS for the current year.

Insider Buying and Selling at Amazon.com

In related news, CEO Douglas J. Herrington sold 1,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $278.39, for a total transaction of $278,390.00. Following the completion of the transaction, the chief executive officer owned 483,527 shares of the company’s stock, valued at $134,609,081.53. This trade represents a 0.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP David Zapolsky sold 9,270 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $268.53, for a total transaction of $2,489,273.10. Following the transaction, the senior vice president owned 41,190 shares of the company’s stock, valued at $11,060,750.70. This represents a 18.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 62,650 shares of company stock worth $16,535,457. Corporate insiders own 8.90% of the company’s stock.

About Amazon.com

(Free Report)

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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