Horst & Graben Wealth Management LLC Grows Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Horst & Graben Wealth Management LLC increased its holdings in Amazon.com, Inc. by 27.8%, acquiring an additional 1,605 shares during the 1st quarter, bringing their total to 7,384 shares worth $1.405 million.
• Recent upgrades from analysts have raised Amazon's price targets, with Telsey Advisory Group raising theirs from $235 to $265, and a notable increase by Monness Crespi & Hardt to $275, overall maintaining a consensus "Buy" rating.
• Amazon reported a strong financial performance with $1.68 earnings per share for the quarter, surpassing estimates, and a 13.3% year-over-year revenue growth to $167.7 billion.

Horst & Graben Wealth Management LLC lifted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 27.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,384 shares of the e-commerce giant's stock after acquiring an additional 1,605 shares during the period. Horst & Graben Wealth Management LLC's holdings in Amazon.com were worth $1,405,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in AMZN. LaFleur & Godfrey LLC increased its holdings in Amazon.com by 1.8% in the 4th quarter. LaFleur & Godfrey LLC now owns 49,407 shares of the e-commerce giant's stock valued at $10,839,000 after acquiring an additional 860 shares during the last quarter. Brighton Jones LLC increased its holdings in shares of Amazon.com by 10.9% in the 4th quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant's stock worth $885,478,000 after buying an additional 397,007 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Amazon.com by 4.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant's stock worth $5,495,000 after buying an additional 986 shares during the last quarter. Bank Pictet & Cie Europe AG grew its holdings in Amazon.com by 2.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant's stock valued at $442,481,000 after purchasing an additional 54,987 shares during the last quarter. Finally, Highview Capital Management LLC DE grew its holdings in Amazon.com by 5.5% during the 4th quarter. Highview Capital Management LLC DE now owns 28,975 shares of the e-commerce giant's stock valued at $6,357,000 after purchasing an additional 1,518 shares during the last quarter. Institutional investors own 72.20% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on AMZN. Needham & Company LLC reiterated a "buy" rating and set a $265.00 price target on shares of Amazon.com in a report on Friday. Telsey Advisory Group upped their price target on shares of Amazon.com from $235.00 to $265.00 and gave the company an "outperform" rating in a report on Friday. Canaccord Genuity Group reiterated a "buy" rating and set a $280.00 price target on shares of Amazon.com in a report on Friday. Cowen reiterated a "buy" rating on shares of Amazon.com in a report on Friday. Finally, Citizens Jmp began coverage on shares of Amazon.com in a report on Thursday, July 10th. They set a "strong-buy" rating on the stock. One equities research analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Amazon.com presently has an average rating of "Buy" and a consensus price target of $262.45.

Insider Buying and Selling at Amazon.com

In other news, insider Jeffrey P. Bezos sold 2,643,142 shares of the stock in a transaction 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 sale, the insider owned 883,779,901 shares in the company, valued at $203,649,402,587.43. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 25,099,537 shares of company stock valued at $5,674,394,548 in the last quarter. 10.80% of the stock is owned by corporate insiders.

Amazon.com Stock Performance

Shares of NASDAQ AMZN traded down $19.36 during midday trading on Friday, reaching $214.75. The company had a trading volume of 122,007,379 shares, compared to its average volume of 43,924,596. The business's 50-day simple moving average is $218.20 and its 200 day simple moving average is $209.11. The stock has a market cap of $2.28 trillion, a P/E ratio of 32.74, a P/E/G ratio of 1.57 and a beta of 1.31. 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 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, topping analysts' consensus estimates of $1.31 by $0.37. The firm had revenue of $167.70 billion for the quarter, compared to analyst estimates of $161.80 billion. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The business's quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.26 earnings per share. On average, analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

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.