BNC Wealth Management LLC Increases Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

BNC Wealth Management LLC grew its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 32.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,682 shares of the e-commerce giant's stock after purchasing an additional 29,978 shares during the quarter. Amazon.com makes up about 8.4% of BNC Wealth Management LLC's holdings, making the stock its largest position. BNC Wealth Management LLC's holdings in Amazon.com were worth $23,341,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of AMZN. Prudent Man Investment Management Inc. bought a new stake in Amazon.com during the fourth quarter worth $27,000. LSV Asset Management bought a new stake in Amazon.com during the fourth quarter worth $35,000. Perritt Capital Management Inc lifted its holdings in Amazon.com by 72.7% during the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock worth $42,000 after acquiring an additional 80 shares during the period. Compass Planning Associates Inc bought a new stake in Amazon.com during the fourth quarter worth $51,000. Finally, Halbert Hargrove Global Advisors LLC bought a new stake in Amazon.com during the fourth quarter worth $54,000. Institutional investors own 72.20% of the company's stock.

Amazon.com Price Performance

NASDAQ:AMZN opened at $223.30 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 0.84. The firm has a market cap of $2.37 trillion, a price-to-earnings ratio of 36.37, a price-to-earnings-growth ratio of 1.68 and a beta of 1.34. The company has a 50 day moving average price of $202.26 and a 200-day moving average price of $208.72. 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 announced its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.21. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The company 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 company posted $0.98 EPS. The firm's quarterly revenue was up 8.6% on a year-over-year basis. Equities research analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AMZN. Piper Sandler reissued an "overweight" rating and issued a $212.00 target price (down from $215.00) on shares of Amazon.com in a research report on Friday, May 2nd. Royal Bank Of Canada decreased their target price on Amazon.com from $235.00 to $230.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Jefferies Financial Group decreased their target price on Amazon.com from $250.00 to $240.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Citizens Jmp decreased their target price on Amazon.com from $285.00 to $240.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Finally, DA Davidson decreased their target price on Amazon.com from $280.00 to $230.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating, forty-five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $245.81.

Insiders Place Their Bets

In related news, CEO Andrew R. Jassy sold 19,872 shares of the company'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 value of $4,000,233.60. Following the completion of the transaction, the chief executive officer now directly owns 2,148,694 shares of the company's stock, valued at $432,532,102.20. This represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $204.98, for a total value of $512,450.00. Following the completion of the sale, the chief executive officer now directly owns 517,050 shares of the company's stock, valued at $105,984,909. The trade was a 0.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 102,037 shares of company stock worth $20,531,075 over the last three months. Company insiders own 10.80% of the company's stock.

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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