Tumwater Wealth Management LLC Acquires New Position in Amazon.com, Inc. (NASDAQ:AMZN)

Tumwater Wealth Management LLC bought a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the 4th quarter, Holdings Channel reports. The firm bought 986 shares of the e-commerce giant’s stock, valued at approximately $216,000. Amazon.com makes up 0.1% of Tumwater Wealth Management LLC’s investment portfolio, making the stock its 29th biggest position.

A number of other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp raised its holdings in Amazon.com by 3.3% during the third quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock worth $66,926,008,000 after purchasing an additional 11,370,309 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Amazon.com by 3.4% in the third quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock valued at $37,116,341,000 after buying an additional 6,545,944 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Amazon.com by 0.8% during the 4th quarter. Bank of New York Mellon Corp now owns 67,092,427 shares of the e-commerce giant’s stock worth $14,719,407,000 after buying an additional 545,292 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Amazon.com by 4.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 59,638,207 shares of the e-commerce giant’s stock worth $13,084,026,000 after buying an additional 2,330,113 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Amazon.com by 3.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,833,954 shares of the e-commerce giant’s stock valued at $10,776,201,000 after acquiring an additional 1,984,592 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Shelley Reynolds sold 8,833 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $222.47, for a total value of $1,965,077.51. Following the completion of the sale, the vice president now directly owns 119,780 shares of the company’s stock, valued at $26,647,456.60. The trade was a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $220.65, for a total value of $4,585,989.60. Following the completion of 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 104,798 shares of company stock worth $23,341,803. Insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. HSBC increased their price target on shares of Amazon.com from $225.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Wells Fargo & Company dropped their price objective on Amazon.com from $207.00 to $203.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 25th. Maxim Group upped their target price on shares of Amazon.com from $260.00 to $280.00 and gave the company a “buy” rating in a report on Friday, February 7th. Truist Financial decreased their price target on shares of Amazon.com from $265.00 to $230.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Finally, Oppenheimer boosted their price objective on shares of Amazon.com from $230.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Two research analysts have rated the stock with a hold rating, forty-four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Amazon.com has an average rating of “Moderate Buy” and a consensus target price of $252.73.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $174.33 on Thursday. The firm has a 50-day moving average of $200.86 and a two-hundred day moving average of $208.06. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. The stock has a market cap of $1.85 trillion, a P/E ratio of 31.52, a PEG ratio of 1.50 and a beta of 1.39. 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 data on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. On average, research analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

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.