Steele Capital Management Inc. Invests $10.31 Million in Amazon.com, Inc. (NASDAQ:AMZN)

Steele Capital Management Inc. purchased a new position in shares of Amazon.com, Inc. (NASDAQ:AMZNFree Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 67,828 shares of the e-commerce giant’s stock, valued at approximately $10,306,000.

A number of other large investors have also modified their holdings of AMZN. Socha Financial Group LLC increased its position in shares of Amazon.com by 3.3% during the fourth quarter. Socha Financial Group LLC now owns 1,991 shares of the e-commerce giant’s stock worth $303,000 after purchasing an additional 63 shares in the last quarter. Lake Hills Wealth Management LLC increased its position in shares of Amazon.com by 0.8% during the fourth quarter. Lake Hills Wealth Management LLC now owns 7,985 shares of the e-commerce giant’s stock worth $1,213,000 after purchasing an additional 65 shares in the last quarter. Veery Capital LLC increased its position in shares of Amazon.com by 1.1% during the fourth quarter. Veery Capital LLC now owns 5,890 shares of the e-commerce giant’s stock worth $895,000 after purchasing an additional 66 shares in the last quarter. Bellwether Advisors LLC increased its position in shares of Amazon.com by 2.3% during the fourth quarter. Bellwether Advisors LLC now owns 2,936 shares of the e-commerce giant’s stock worth $446,000 after purchasing an additional 66 shares in the last quarter. Finally, StrategIQ Financial Group LLC increased its position in shares of Amazon.com by 0.3% during the fourth quarter. StrategIQ Financial Group LLC now owns 23,259 shares of the e-commerce giant’s stock worth $3,534,000 after purchasing an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Activity at Amazon.com

In related news, CEO Andrew R. Jassy sold 50,000 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $180.00, for a total value of $9,000,000.00. Following the completion of the transaction, the chief executive officer now owns 1,994,182 shares of the company’s stock, valued at $358,952,760. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Amazon.com news, CEO Andrew R. Jassy sold 50,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $180.00, for a total transaction of $9,000,000.00. Following the transaction, the chief executive officer now owns 1,994,182 shares of the company’s stock, valued at approximately $358,952,760. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jonathan Rubinstein sold 5,264 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $190.00, for a total value of $1,000,160.00. Following the transaction, the director now directly owns 104,400 shares in the company, valued at approximately $19,836,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,320 shares of company stock valued at $12,722,720. Insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AMZN. Bank of America boosted their price target on Amazon.com from $185.00 to $204.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Oppenheimer upped their target price on Amazon.com from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Barclays upped their target price on Amazon.com from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Royal Bank of Canada upped their target price on Amazon.com from $180.00 to $215.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Finally, Truist Financial upped their target price on Amazon.com from $216.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a hold rating, forty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Amazon.com presently has a consensus rating of “Buy” and an average price target of $211.62.

View Our Latest Analysis on AMZN

Amazon.com Price Performance

AMZN stock opened at $183.15 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.87 and a current ratio of 1.07. Amazon.com, Inc. has a 1 year low of $113.78 and a 1 year high of $191.70. The firm has a market cap of $1.91 trillion, a P/E ratio of 51.30, a price-to-earnings-growth ratio of 1.34 and a beta of 1.15. The stock has a 50-day simple moving average of $181.73 and a 200-day simple moving average of $165.54.

Amazon.com (NASDAQ:AMZNGet Free Report) last posted its earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.15. Amazon.com had a return on equity of 19.86% and a net margin of 6.38%. The business had revenue of $143.31 billion during the quarter, compared to analyst estimates of $142.65 billion. During the same quarter last year, the firm earned $0.31 earnings per share. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, equities analysts predict that Amazon.com, Inc. will post 4.67 earnings per share for the current fiscal year.

Amazon.com Profile

(Free Report)

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.

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

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