Coerente Capital Management grew its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 0.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 130,029 shares of the e-commerce giant’s stock after acquiring an additional 568 shares during the period. Amazon.com makes up 5.3% of Coerente Capital Management’s investment portfolio, making the stock its 5th largest position. Coerente Capital Management’s holdings in Amazon.com were worth $28,527,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the company. Accordant Advisory Group Inc increased its stake in Amazon.com by 400.0% during the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock worth $27,000 after purchasing an additional 100 shares in the last quarter. Icon Wealth Advisors LLC increased its stake in Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after buying an additional 25,581 shares during the last quarter. Hoese & Co LLP bought a new stake in Amazon.com during the 3rd quarter worth about $37,000. Bull Oak Capital LLC acquired a new position in shares of Amazon.com during the 3rd quarter worth about $45,000. Finally, Values First Advisors Inc. bought a new position in shares of Amazon.com in the 3rd quarter valued at about $56,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on AMZN. Morgan Stanley upped their target price on Amazon.com from $230.00 to $280.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Wells Fargo & Company dropped their price objective on Amazon.com from $212.00 to $207.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Roth Mkm raised their target price on shares of Amazon.com from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Moffett Nathanson upped their price target on shares of Amazon.com from $235.00 to $248.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Raymond James increased their price target on shares of Amazon.com from $260.00 to $275.00 in a research note on Monday, February 10th. Two research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $260.74.
Amazon.com Stock Performance
NASDAQ AMZN opened at $216.58 on Monday. The firm’s 50 day simple moving average is $227.88 and its 200 day simple moving average is $204.55. The firm has a market capitalization of $2.30 trillion, a price-to-earnings ratio of 39.16, a P/E/G ratio of 1.54 and a beta of 1.15. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52.
Amazon.com (NASDAQ:AMZN – Get Free Report) last released its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. As a group, research analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.
Insider Activity at Amazon.com
In other news, CEO Douglas J. Herrington sold 27,500 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $230.27, for a total value 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 approximately $114,459,618.09. This represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan Rubinstein sold 4,351 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the completion of the sale, the director now owns 88,203 shares in the company, valued at approximately $20,273,459.55. The trade was a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,852 shares of company stock valued at $9,324,151 over the last ninety days. 10.80% of the stock is owned by corporate insiders.
Amazon.com 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.
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