Moran Wealth Management LLC Buys 49,515 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Moran Wealth Management LLC raised its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 254.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 68,976 shares of the e-commerce giant’s stock after buying an additional 49,515 shares during the quarter. Moran Wealth Management LLC’s holdings in Amazon.com were worth $13,123,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Prudent Man Investment Management Inc. acquired a new position in shares of Amazon.com during the fourth quarter worth $27,000. LSV Asset Management purchased a new position in Amazon.com during the 4th quarter worth $35,000. Perritt Capital Management Inc increased 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 valued at $42,000 after buying an additional 80 shares in the last quarter. Inlight Wealth Management LLC purchased a new stake in Amazon.com in the first quarter valued at about $40,000. Finally, Capitol Family Office Inc. acquired a new stake in Amazon.com in the first quarter worth about $42,000. 72.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AMZN shares. JMP Securities upped their price objective on shares of Amazon.com from $250.00 to $285.00 and gave the company a “market outperform” rating in a report on Thursday, July 10th. Rosenblatt Securities upped their price target on shares of Amazon.com from $287.00 to $288.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. The Goldman Sachs Group decreased their price target on shares of Amazon.com from $255.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Royal Bank Of Canada lowered their price objective on shares of Amazon.com from $235.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Finally, Cantor Fitzgerald raised their target price on Amazon.com from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Three research analysts have rated the stock with a hold rating, forty-five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Amazon.com currently has an average rating of “Moderate Buy” and a consensus target price of $249.42.

Amazon.com Stock Up 0.3%

Shares of NASDAQ AMZN opened at $226.35 on Wednesday. The firm has a market cap of $2.40 trillion, a price-to-earnings ratio of 36.86, a price-to-earnings-growth ratio of 1.69 and a beta of 1.33. The company’s 50-day simple moving average is $211.52 and its 200-day simple moving average is $208.50. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.17. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week 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 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.21. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The firm had revenue of $155.67 billion for the quarter, compared to analyst estimates of $154.96 billion. During the same period last year, the company posted $0.98 EPS. Amazon.com’s quarterly revenue was up 8.6% compared to the same quarter last year. Equities analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Activity

In related news, CEO Andrew R. Jassy sold 19,872 shares of the business’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $201.30, for a total transaction of $4,000,233.60. Following the completion of the sale, the chief executive officer directly owned 2,148,694 shares in the company, valued at approximately $432,532,102.20. The trade was a 0.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey P. Bezos sold 4,273,237 shares of Amazon.com stock in a transaction on Friday, July 11th. The stock was sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the sale, the insider directly owned 897,722,088 shares in the company, valued at approximately $201,816,902,603.28. This trade represents a 0.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,602,037 shares of company stock worth $3,044,172,641 over the last quarter. 10.80% 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.