Sagespring Wealth Partners LLC Has $33.57 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Sagespring Wealth Partners LLC lifted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 11.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 176,427 shares of the e-commerce giant’s stock after purchasing an additional 18,023 shares during the quarter. Amazon.com accounts for approximately 0.3% of Sagespring Wealth Partners LLC’s investment portfolio, making the stock its 29th largest holding. Sagespring Wealth Partners LLC’s holdings in Amazon.com were worth $33,567,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Cable Hill Partners LLC lifted its holdings in Amazon.com by 0.5% during the 4th quarter. Cable Hill Partners LLC now owns 9,588 shares of the e-commerce giant’s stock worth $2,104,000 after buying an additional 44 shares in the last quarter. Northern Capital Management Inc. boosted its position in shares of Amazon.com by 0.6% during the 4th quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant’s stock worth $1,613,000 after acquiring an additional 45 shares in the last quarter. White Wing Wealth Management increased its stake in Amazon.com by 2.4% in the fourth quarter. White Wing Wealth Management now owns 1,972 shares of the e-commerce giant’s stock valued at $433,000 after purchasing an additional 47 shares during the last quarter. Balanced Wealth Group LLC lifted its position in shares of Amazon.com by 1.6% during the 4th quarter. Balanced Wealth Group LLC now owns 2,966 shares of the e-commerce giant’s stock worth $705,000 after buying an additional 48 shares during the last quarter. Finally, ETF Store Inc. boosted its stake in Amazon.com by 2.1% in the fourth quarter. ETF Store Inc. now owns 2,378 shares of the e-commerce giant’s stock valued at $522,000 after acquiring an additional 48 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors.

Amazon.com Stock Up 1.5%

Shares of Amazon.com stock opened at $223.13 on Friday. The business’s fifty day moving average price is $205.76 and its two-hundred day moving average price is $208.76. The company has a market capitalization of $2.37 trillion, a P/E ratio of 36.34, a PEG ratio of 1.66 and a beta of 1.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 0.84. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, topping the consensus estimate of $1.38 by $0.21. The firm had revenue of $155.67 billion for the quarter, compared to analysts’ expectations of $154.96 billion. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. Amazon.com’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 earnings per share. As a group, research analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Moffett Nathanson increased their price target on shares of Amazon.com from $250.00 to $253.00 and gave the stock a “buy” rating in a research note on Tuesday, June 24th. Citigroup reissued a “buy” rating on shares of Amazon.com in a research note on Monday, June 2nd. UBS Group restated a “buy” rating on shares of Amazon.com in a research report on Tuesday, May 6th. Wall Street Zen downgraded Amazon.com from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $195.00 price target (down from $275.00) on shares of Amazon.com in a research note on Monday, April 21st. Three investment analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $245.60.

Insider Activity at Amazon.com

In other Amazon.com news, SVP David Zapolsky sold 13,570 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $202.41, for a total value of $2,746,703.70. Following the completion of the sale, the senior vice president owned 47,030 shares in the company, valued at $9,519,342.30. This represents a 22.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Shelley Reynolds sold 2,695 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $200.79, for a total transaction of $541,129.05. Following the transaction, the vice president owned 119,780 shares in the company, valued at approximately $24,050,626.20. This trade represents a 2.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,426,963 shares of company stock valued at $757,297,707 over the last ninety days. Company insiders own 9.70% of the company’s stock.

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.