Global Wealth Strategies & Associates Increases Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Global Wealth Strategies & Associates raised its position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 30.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,751 shares of the e-commerce giant's stock after buying an additional 1,587 shares during the period. Amazon.com comprises about 0.4% of Global Wealth Strategies & Associates' portfolio, making the stock its 20th largest holding. Global Wealth Strategies & Associates' holdings in Amazon.com were worth $1,284,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Momentous Wealth Management Inc. purchased a new stake in shares of Amazon.com in the fourth quarter valued at approximately $749,000. Segall Bryant & Hamill LLC boosted its stake in Amazon.com by 14.3% during the fourth quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant's stock worth $69,572,000 after buying an additional 39,696 shares during the last quarter. Evergreen Capital Management LLC grew its holdings in Amazon.com by 0.5% in the 4th quarter. Evergreen Capital Management LLC now owns 242,550 shares of the e-commerce giant's stock valued at $53,213,000 after buying an additional 1,198 shares in the last quarter. Bearing Point Capital LLC acquired a new stake in shares of Amazon.com in the 4th quarter worth $12,014,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Amazon.com by 173.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,461,573 shares of the e-commerce giant's stock worth $759,434,000 after acquiring an additional 2,196,353 shares during the period. Institutional investors and hedge funds own 72.20% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on AMZN shares. Phillip Securities downgraded shares of Amazon.com from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, February 10th. Piper Sandler reiterated an "overweight" rating and issued a $212.00 price objective (down from $215.00) on shares of Amazon.com in a research report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft reduced their target price on Amazon.com from $287.00 to $206.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Westpark Capital restated a "buy" rating and issued a $280.00 price objective on shares of Amazon.com in a report on Friday, May 2nd. Finally, Barclays lowered their target price on shares of Amazon.com from $265.00 to $240.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company. According to MarketBeat, Amazon.com presently has an average rating of "Moderate Buy" and a consensus price target of $244.89.

Insider Transactions at Amazon.com

In related news, VP Shelley Reynolds sold 2,695 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $200.79, for a total value of $541,129.05. Following the completion of the sale, the vice president now owns 119,780 shares in the company, valued at $24,050,626.20. This trade represents a 2.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas J. Herrington sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $187.99, for a total value of $469,975.00. Following the transaction, the chief executive officer now owns 509,474 shares in the company, valued at $95,776,017.26. The trade was a 0.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold 102,037 shares of company stock worth $20,531,075 over the last 90 days. 9.70% of the stock is currently owned by insiders.

Amazon.com Stock Performance

Amazon.com stock traded up $0.63 during midday trading on Tuesday, hitting $217.61. 31,226,326 shares of the company's stock were exchanged, compared to its average volume of 45,016,777. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06. The stock has a market cap of $2.31 trillion, a price-to-earnings ratio of 39.35, a price-to-earnings-growth ratio of 1.50 and a beta of 1.33. Amazon.com, Inc. has a 12-month low of $151.61 and a 12-month high of $242.52. The firm's 50 day simple moving average is $192.26 and its 200 day simple moving average is $208.96.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.21. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. The firm had revenue of $155.67 billion for the quarter, compared to analysts' expectations of $154.96 billion. During the same quarter in the previous year, the firm posted $0.98 EPS. The firm's revenue for the quarter was up 8.6% on a year-over-year basis. Equities research analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current year.

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.