Kingsview Wealth Management LLC Buys 30,977 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Kingsview Wealth Management LLC increased its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 6.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 526,608 shares of the e-commerce giant's stock after purchasing an additional 30,977 shares during the quarter. Amazon.com accounts for 1.9% of Kingsview Wealth Management LLC's investment portfolio, making the stock its 9th largest position. Kingsview Wealth Management LLC's holdings in Amazon.com were worth $100,192,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Prudent Man Investment Management Inc. purchased a new position in Amazon.com during the 4th quarter valued at about $27,000. LSV Asset Management purchased a new position in Amazon.com during the 4th quarter valued at about $35,000. Perritt Capital Management Inc increased its holdings in Amazon.com by 72.7% during the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock valued at $42,000 after acquiring an additional 80 shares in the last quarter. Cooksen Wealth LLC purchased a new position in Amazon.com during the 1st quarter valued at about $36,000. Finally, Inlight Wealth Management LLC purchased a new position in Amazon.com during the 1st quarter valued at about $40,000. Hedge funds and other institutional investors own 72.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Barclays raised their target price on shares of Amazon.com from $240.00 to $275.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Evercore ISI restated an "outperform" rating and set a $280.00 target price on shares of Amazon.com in a report on Wednesday. BMO Capital Markets raised their target price on shares of Amazon.com from $270.00 to $280.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Wells Fargo & Company lifted their price target on shares of Amazon.com from $238.00 to $245.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Finally, Monness Crespi & Hardt lifted their price target on shares of Amazon.com from $265.00 to $275.00 and gave the stock a "buy" rating in a report on Friday, August 1st. One investment analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Amazon.com has an average rating of "Buy" and an average price target of $262.87.

Insider Activity

In other news, CEO Douglas J. Herrington sold 2,500 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $217.00, for a total value of $542,500.00. Following the transaction, the chief executive officer owned 512,050 shares in the company, valued at $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 is available at this link. Also, insider Jeffrey P. Bezos sold 2,643,142 shares of the company's stock in a transaction dated 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,096,253 shares of company stock worth $5,673,745,409. Corporate insiders own 9.70% of the company's stock.

Amazon.com Price Performance

NASDAQ AMZN traded up $0.05 on Friday, reaching $231.03. The company's stock had a trading volume of 39,600,434 shares, compared to its average volume of 47,994,872. The firm's 50 day moving average is $221.41 and its two-hundred day moving average is $208.44. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 1.02. The stock has a market cap of $2.46 trillion, a PE ratio of 35.22, a PEG ratio of 1.56 and a beta of 1.31. Amazon.com, Inc. has a twelve month low of $161.38 and a twelve month high of $242.52.

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