NewEdge Advisors LLC Purchases 64,585 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

NewEdge Advisors LLC increased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 5.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,247,668 shares of the e-commerce giant’s stock after purchasing an additional 64,585 shares during the period. Amazon.com accounts for 1.6% of NewEdge Advisors LLC’s investment portfolio, making the stock its 6th largest holding. NewEdge Advisors LLC’s holdings in Amazon.com were worth $273,726,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Accordant Advisory Group Inc boosted its position in shares of Amazon.com by 400.0% in the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock valued at $27,000 after acquiring an additional 100 shares during the period. Prudent Man Investment Management Inc. bought a new stake in shares of Amazon.com in the fourth quarter valued at about $27,000. LSV Asset Management bought a new stake in shares of Amazon.com in the fourth quarter valued at about $35,000. Perritt Capital Management Inc boosted its position in shares of Amazon.com by 72.7% in the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock valued at $42,000 after acquiring an additional 80 shares during the period. Finally, Quattro Financial Advisors LLC boosted its position in shares of 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 acquiring an additional 45 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Trading Up 8.1%

Shares of Amazon.com stock opened at $208.64 on Tuesday. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52. The stock’s 50-day simple moving average is $188.50 and its 200 day simple moving average is $208.25. The stock has a market capitalization of $2.21 trillion, a P/E ratio of 37.73, a P/E/G ratio of 1.50 and a beta of 1.30. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.21. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. The business had revenue of $155.67 billion for the quarter, compared to analysts’ expectations of $154.96 billion. During the same period in the previous year, the business posted $0.98 EPS. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, research analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current year.

Wall Street Analysts Forecast Growth

AMZN has been the subject of several recent analyst reports. StockNews.com cut shares of Amazon.com from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. Canaccord Genuity Group reaffirmed a “buy” rating on shares of Amazon.com in a research report on Thursday, February 13th. Jefferies Financial Group cut their price objective on shares of Amazon.com from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Benchmark reaffirmed a “buy” rating and set a $260.00 price objective on shares of Amazon.com in a research report on Friday, May 2nd. Finally, HSBC upped their price objective on shares of Amazon.com from $225.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Four investment analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $244.09.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 27,500 shares of Amazon.com stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total transaction of $6,332,425.00. Following the completion of the transaction, the chief executive officer now owns 497,067 shares of the company’s stock, valued at $114,459,618.09. The trade was a 5.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Shelley Reynolds sold 8,833 shares of Amazon.com stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $222.47, for a total value of $1,965,077.51. Following the transaction, the vice president now directly owns 119,780 shares of the company’s stock, valued at $26,647,456.60. The trade was a 6.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 107,298 shares of company stock valued at $23,818,478 in the last quarter. 9.70% of the stock is currently owned by corporate insiders.

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.