Prevail Innovative Wealth Advisors LLC Buys 12,358 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Prevail Innovative Wealth Advisors LLC boosted its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 221.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,931 shares of the e-commerce giant's stock after purchasing an additional 12,358 shares during the quarter. Prevail Innovative Wealth Advisors LLC's holdings in Amazon.com were worth $3,412,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Castlekeep Investment Advisors LLC bought a new position in Amazon.com in the 4th quarter worth about $25,000. Prudent Man Investment Management Inc. bought a new position in Amazon.com in the 4th quarter worth about $27,000. LSV Asset Management bought a new position in Amazon.com in the 4th quarter worth about $35,000. Cooksen Wealth LLC bought a new position in Amazon.com in the 1st quarter worth about $36,000. Finally, Inlight Wealth Management LLC bought a new position in Amazon.com in the 1st quarter worth about $40,000. Hedge funds and other institutional investors own 72.20% of the company's stock.

Insider Activity

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of the business's stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the transaction, the insider directly owned 897,722,088 shares of the company's stock, valued at approximately $201,816,902,603.28. The trade was a 0.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 25,101,037 shares of company stock valued at $5,674,726,368. Insiders own 10.80% of the company's stock.

Amazon.com Stock Performance

Shares of AMZN stock opened at $221.30 on Tuesday. The company's fifty day simple moving average is $219.94 and its 200-day simple moving average is $208.52. Amazon.com, Inc. has a 52 week low of $161.38 and a 52 week 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. The company has a market cap of $2.36 trillion, a PE ratio of 33.73, a P/E/G ratio of 1.50 and a beta of 1.31.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 EPS for the quarter, beating the consensus estimate of $1.31 by $0.37. The business had revenue of $167.70 billion during 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 company's quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.26 EPS. As a group, equities research analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on AMZN. Tigress Financial upped their target price on Amazon.com from $290.00 to $305.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Westpark Capital reiterated a "buy" rating and issued a $280.00 price objective on shares of Amazon.com in a report on Friday, August 1st. Bank of America increased their target price on Amazon.com from $265.00 to $272.00 and gave the company a "buy" rating in a report on Friday, August 1st. Stifel Nicolaus increased their target price on Amazon.com from $245.00 to $262.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Finally, Evercore ISI dropped their target price on Amazon.com from $270.00 to $260.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. 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 company's stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $262.45.

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.

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