Amazon.com, Inc. (NASDAQ:AMZN) Shares Acquired by Gateway Wealth Partners LLC

Key Points

• Gateway Wealth Partners LLC increased its stake in Amazon.com by 16.7%, now owning 24,808 shares valued at approximately $4.72 million.
• Insider sales included CEO Douglas J. Herrington selling 2,500 shares for $542,500 and Jeffrey P. Bezos selling over 2.6 million shares valued at about $609 million.
• Amazon's recent quarterly earnings showed an EPS of $1.68, surpassing estimates, with revenue of $167.70 billion, up 13.3% year-over-year.

Gateway Wealth Partners LLC raised its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 16.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,808 shares of the e-commerce giant's stock after purchasing an additional 3,551 shares during the period. Amazon.com accounts for about 1.1% of Gateway Wealth Partners LLC's holdings, making the stock its 22nd biggest position. Gateway Wealth Partners LLC's holdings in Amazon.com were worth $4,720,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC purchased a new stake in shares of Amazon.com in the fourth quarter valued at about $25,000. Prudent Man Investment Management Inc. purchased a new stake in Amazon.com in the 4th quarter valued at approximately $27,000. LSV Asset Management acquired a new position in Amazon.com during the 4th quarter worth approximately $35,000. Cooksen Wealth LLC purchased a new position in shares of Amazon.com during the 1st quarter worth approximately $36,000. Finally, Inlight Wealth Management LLC acquired a new stake in shares of Amazon.com in the 1st quarter valued at approximately $40,000. Institutional investors and hedge funds own 72.20% of the company's stock.

Insider Transactions at Amazon.com

In other news, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $217.00, for a total transaction of $542,500.00. Following the sale, the chief executive officer directly owned 512,050 shares in the company, valued at approximately $111,114,850. This represents a 0.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey P. Bezos sold 2,643,142 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $230.43, for a total value of $609,059,211.06. Following the transaction, the insider owned 883,779,901 shares of the company's stock, valued at $203,649,402,587.43. This represents a 0.30% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,102,037 shares of company stock valued at $5,674,937,048. Insiders own 9.70% of the company's stock.

Wall Street Analyst Weigh In

AMZN has been the topic of a number of research analyst reports. HSBC boosted their price objective on shares of Amazon.com from $240.00 to $256.00 in a report on Tuesday, July 22nd. Royal Bank Of Canada upped their price target on Amazon.com from $230.00 to $240.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Sanford C. Bernstein set a $235.00 price objective on Amazon.com and gave the stock an "outperform" rating in a report on Tuesday, July 1st. The Goldman Sachs Group reissued a "buy" rating on shares of Amazon.com in a report on Friday, August 1st. Finally, Truist Financial raised their price target on Amazon.com from $226.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a hold rating, forty-seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Amazon.com has a consensus rating of "Buy" and a consensus price target of $262.45.

Amazon.com Stock Performance

NASDAQ:AMZN traded down $0.44 during trading hours on Friday, reaching $222.69. 32,911,537 shares of the stock were exchanged, compared to its average volume of 47,624,592. The stock has a market capitalization of $2.37 trillion, a P/E ratio of 33.95, a P/E/G ratio of 1.50 and a beta of 1.31. The firm has a 50 day simple moving average of $219.65 and a 200-day simple moving average of $208.98. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. Amazon.com, Inc. has a 52 week low of $161.38 and a 52 week high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 EPS for the quarter, topping analysts' consensus estimates of $1.31 by $0.37. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The firm had revenue of $167.70 billion during the quarter, compared to the consensus estimate of $161.80 billion. During the same quarter in the previous year, the company posted $1.26 earnings per share. The firm's revenue was up 13.3% on a year-over-year basis. As a group, sell-side analysts forecast 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.