Mystic Asset Management Inc. Raises Position in Amazon.com, Inc. (NASDAQ:AMZN)

Mystic Asset Management Inc. raised its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 82.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,071 shares of the e-commerce giant's stock after acquiring an additional 14,910 shares during the quarter. Amazon.com comprises approximately 1.7% of Mystic Asset Management Inc.'s portfolio, making the stock its 9th biggest holding. Mystic Asset Management Inc.'s holdings in Amazon.com were worth $6,292,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Western Wealth Management LLC grew its stake in shares of Amazon.com by 0.9% in the first quarter. Western Wealth Management LLC now owns 140,122 shares of the e-commerce giant's stock worth $26,660,000 after purchasing an additional 1,297 shares during the last quarter. Momentous Wealth Management Inc. bought a new stake in Amazon.com in the 4th quarter worth approximately $749,000. Barnes Dennig Private Wealth Management LLC bought a new stake in Amazon.com in the 1st quarter worth approximately $514,000. Segall Bryant & Hamill LLC boosted its stake in shares of Amazon.com by 14.3% during the 4th quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant's stock worth $69,572,000 after acquiring an additional 39,696 shares during the last quarter. Finally, Bearing Point Capital LLC purchased a new position in shares of Amazon.com during the 4th quarter worth $12,014,000. Institutional investors own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Sanford C. Bernstein set a $235.00 price target on shares of Amazon.com and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. HSBC boosted their price objective on shares of Amazon.com from $240.00 to $256.00 in a research report on Tuesday, July 22nd. Roth Capital set a $250.00 price target on shares of Amazon.com and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Truist Financial upped their price target on shares of Amazon.com from $226.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Finally, Cantor Fitzgerald increased their target price on shares of Amazon.com from $260.00 to $280.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. One investment 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. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $262.87.

Amazon.com Price Performance

Shares of AMZN stock opened at $231.03 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.81. The firm's 50-day moving average is $221.41 and its two-hundred day moving average is $208.44. Amazon.com, Inc. has a 12 month low of $161.38 and a 12 month high of $242.52. The company has a market capitalization of $2.46 trillion, a PE ratio of 35.22, a price-to-earnings-growth ratio of 1.56 and a beta of 1.31.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its earnings results 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. The company had revenue of $167.70 billion for the quarter, compared to the consensus estimate of $161.80 billion. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. Amazon.com's quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.26 earnings per share. Analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Buying and Selling

In other Amazon.com news, 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 transaction 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. The trade was a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Douglas J. Herrington sold 2,500 shares of the business's 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 transaction, the chief executive officer owned 512,050 shares of the company's stock, valued at $111,114,850. This trade represents a 0.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,096,253 shares of company stock worth $5,673,745,409 over the last three months. Insiders own 9.70% of the company's stock.

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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