Elite Financial Inc. Invests $698,000 in Amazon.com, Inc. (NASDAQ:AMZN)

Elite Financial Inc. purchased a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,182 shares of the e-commerce giant's stock, valued at approximately $698,000. Amazon.com comprises about 0.4% of Elite Financial Inc.'s investment portfolio, making the stock its 27th largest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMZN. Vanguard Group Inc. increased its stake in shares of Amazon.com by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock valued at $180,637,081,000 after purchasing an additional 17,635,391 shares during the last quarter. FMR LLC lifted its stake in shares of Amazon.com by 0.5% in the fourth quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant's stock worth $72,061,766,000 after acquiring an additional 1,725,664 shares during the period. Geode Capital Management LLC increased its position in shares of Amazon.com by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant's stock worth $44,837,256,000 after buying an additional 5,015,380 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Amazon.com by 2.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 182,813,905 shares of the e-commerce giant's stock valued at $40,107,544,000 after purchasing an additional 4,087,933 shares in the last quarter. Finally, Norges Bank acquired a new stake in Amazon.com in the fourth quarter worth $27,266,582,000. 72.20% of the stock is owned by institutional investors.

Amazon.com Price Performance

Amazon.com stock opened at $213.57 on Friday. The firm has a market capitalization of $2.27 trillion, a P/E ratio of 38.62, a PEG ratio of 1.50 and a beta of 1.33. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. The business has a 50-day moving average of $191.84 and a 200-day moving average of $208.75.

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on AMZN shares. Wall Street Zen downgraded shares of Amazon.com from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Oppenheimer lowered their target price on shares of Amazon.com from $260.00 to $220.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. Truist Financial cut their price objective on Amazon.com from $265.00 to $230.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Wedbush reaffirmed an "outperform" rating and set a $235.00 price target (up previously from $225.00) on shares of Amazon.com in a research note on Friday, May 2nd. Finally, Loop Capital lifted their price objective on Amazon.com from $275.00 to $285.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Four equities research analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $244.89.

Insider Buying and Selling

In other news, Director Keith Brian Alexander sold 1,000 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $210.68, for a total value of $210,680.00. Following the completion of the sale, the director now owns 5,465 shares in the company, valued at $1,151,366.20. This represents a 15.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $204.98, for a total transaction of $512,450.00. Following the transaction, the chief executive officer now owns 517,050 shares of the company's stock, valued at approximately $105,984,909. The trade was a 0.48% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 102,037 shares of company stock valued at $20,531,075. 9.70% of the stock is owned by company insiders.

Amazon.com Company 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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