Long Island Wealth Management Inc. Takes $221,000 Position in Amazon.com, Inc. (NASDAQ:AMZN)

Long Island Wealth Management Inc. bought a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,009 shares of the e-commerce giant’s stock, valued at approximately $221,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Prudent Man Investment Management Inc. purchased a new position in Amazon.com during the 4th quarter worth approximately $27,000. Accordant Advisory Group Inc lifted its stake in shares of Amazon.com by 400.0% in the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock valued at $27,000 after purchasing an additional 100 shares during the last quarter. LSV Asset Management acquired a new stake in shares of Amazon.com in the 4th quarter valued at $35,000. Perritt Capital Management Inc lifted its position in Amazon.com by 72.7% during the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock worth $42,000 after acquiring an additional 80 shares during the last quarter. Finally, Compass Planning Associates Inc acquired a new position in Amazon.com during the 4th quarter worth $51,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on AMZN. Cantor Fitzgerald upped their price objective on shares of Amazon.com from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Westpark Capital reissued a “buy” rating and set a $280.00 price target on shares of Amazon.com in a research note on Friday, May 2nd. Piper Sandler restated an “overweight” rating and issued a $212.00 price objective (down from $215.00) on shares of Amazon.com in a report on Friday, May 2nd. Telsey Advisory Group restated an “outperform” rating and set a $235.00 price objective on shares of Amazon.com in a report on Friday, May 2nd. Finally, Canaccord Genuity Group reaffirmed a “buy” rating on shares of Amazon.com in a research report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the stock. Based on data from MarketBeat, Amazon.com currently has an average rating of “Moderate Buy” and a consensus price target of $244.09.

Insider Activity

In related news, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $220.65, for a total transaction of $4,585,989.60. Following the completion of the sale, the chief executive officer now owns 2,118,886 shares in the company, valued at approximately $467,532,195.90. This trade represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Brian T. Olsavsky sold 14,620 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $223.14, for a total transaction of $3,262,306.80. Following the transaction, the chief financial officer now owns 49,000 shares of the company’s stock, valued at $10,933,860. This represents a 22.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 80,081 shares of company stock worth $17,421,044 over the last quarter. Insiders own 9.70% of the company’s stock.

Amazon.com Trading Up 0.3%

NASDAQ:AMZN opened at $206.16 on Tuesday. The firm’s fifty day moving average is $189.48 and its 200-day moving average is $208.82. 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, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52. The firm has a market cap of $2.19 trillion, a P/E ratio of 37.28, a P/E/G ratio of 1.50 and a beta of 1.30.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.21. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. The business had revenue of $155.67 billion for the quarter, compared to analyst estimates of $154.96 billion. During the same period in the prior year, the firm earned $0.98 earnings per share. Amazon.com’s revenue was up 8.6% on a year-over-year basis. Equities analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

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.