Keyvantage Wealth LLC Makes New Investment in Amazon.com, Inc. (NASDAQ:AMZN)

Keyvantage Wealth LLC bought a new position in Amazon.com, Inc. (NASDAQ:AMZN) during the 4th quarter, Holdings Channel.com reports. The fund bought 12,466 shares of the e-commerce giant’s stock, valued at approximately $2,735,000. Amazon.com accounts for about 2.0% of Keyvantage Wealth LLC’s investment portfolio, making the stock its 14th largest holding.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in Amazon.com by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock worth $180,637,081,000 after purchasing an additional 17,635,391 shares during the last quarter. FMR LLC boosted its position in Amazon.com by 0.5% in the fourth quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant’s stock worth $72,061,766,000 after purchasing an additional 1,725,664 shares during the last quarter. Geode Capital Management LLC boosted its position in Amazon.com by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant’s stock worth $44,837,256,000 after purchasing an additional 5,015,380 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Amazon.com by 2.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 182,813,905 shares of the e-commerce giant’s stock worth $40,107,544,000 after purchasing an additional 4,087,933 shares during the last quarter. Finally, Norges Bank purchased a new position in Amazon.com in the fourth quarter worth about $27,266,582,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on AMZN. Telsey Advisory Group reissued an “outperform” rating and issued a $235.00 target price on shares of Amazon.com in a research report on Friday, May 2nd. Piper Sandler reaffirmed an “overweight” rating and set a $212.00 price objective (down from $215.00) on shares of Amazon.com in a research report on Friday, May 2nd. Royal Bank of Canada lowered their price objective on Amazon.com from $235.00 to $230.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Oppenheimer lowered their price objective on Amazon.com from $260.00 to $220.00 and set an “outperform” rating on the stock in a research report on Monday, April 28th. Finally, Evercore ISI lowered their price objective on Amazon.com from $270.00 to $260.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and forty-four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.09.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $205.59 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The stock’s 50 day simple moving average is $189.33 and its two-hundred day simple moving average is $208.61. The company has a market cap of $2.18 trillion, a price-to-earnings ratio of 37.18, a PEG ratio of 1.50 and a beta of 1.30.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $154.96 billion. During the same quarter in the previous year, the company posted $0.98 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. As a group, equities analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $220.65, for a total transaction of $4,585,989.60. Following the transaction, the chief executive officer now owns 2,118,886 shares of the company’s stock, valued at approximately $467,532,195.90. The trade was a 0.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Keith Brian Alexander sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $210.68, for a total value of $210,680.00. Following the transaction, the director now directly owns 5,465 shares in the company, valued at approximately $1,151,366.20. This represents a 15.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 80,798 shares of company stock valued at $17,696,733 in the last quarter. 9.70% of the stock is currently owned by insiders.

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.