Prosperity Wealth Management Inc. Boosts Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Prosperity Wealth Management Inc. boosted its position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 7.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,095 shares of the e-commerce giant's stock after purchasing an additional 1,570 shares during the period. Amazon.com comprises 2.2% of Prosperity Wealth Management Inc.'s portfolio, making the stock its 8th biggest holding. Prosperity Wealth Management Inc.'s holdings in Amazon.com were worth $4,584,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Cable Hill Partners LLC lifted its stake in shares of Amazon.com by 0.5% in the 4th quarter. Cable Hill Partners LLC now owns 9,588 shares of the e-commerce giant's stock valued at $2,104,000 after purchasing an additional 44 shares during the last quarter. Northern Capital Management Inc. grew its holdings in shares of Amazon.com by 0.6% in the fourth quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant's stock worth $1,613,000 after purchasing an additional 45 shares during the last quarter. White Wing Wealth Management increased its position in shares of Amazon.com by 2.4% during the fourth quarter. White Wing Wealth Management now owns 1,972 shares of the e-commerce giant's stock worth $433,000 after acquiring an additional 47 shares during the period. Balanced Wealth Group LLC increased its holdings in Amazon.com by 1.6% during the 4th quarter. Balanced Wealth Group LLC now owns 2,966 shares of the e-commerce giant's stock worth $705,000 after purchasing an additional 48 shares during the period. Finally, ETF Store Inc. grew its position in shares of Amazon.com by 2.1% during the 4th quarter. ETF Store Inc. now owns 2,378 shares of the e-commerce giant's stock worth $522,000 after buying an additional 48 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors.

Amazon.com Stock Performance

NASDAQ AMZN opened at $223.13 on Friday. The firm has a market capitalization of $2.37 trillion, a P/E ratio of 36.34, a PEG ratio of 1.68 and a beta of 1.33. The stock has a 50-day simple moving average of $206.44 and a two-hundred day simple moving average of $208.70. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.05. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.21. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The company had revenue of $155.67 billion during the quarter, compared to analysts' expectations of $154.96 billion. During the same period last year, the business earned $0.98 earnings per share. Amazon.com's quarterly revenue was up 8.6% on a year-over-year basis. On average, equities analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Buying and Selling at Amazon.com

In related news, VP Shelley Reynolds sold 2,695 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $200.79, for a total value of $541,129.05. Following the completion of the transaction, the vice president directly owned 119,780 shares in the company, valued at $24,050,626.20. The trade was a 2.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $220.06, for a total transaction of $550,150.00. Following the sale, the chief executive officer directly owned 514,550 shares in the company, valued at $113,231,873. This trade represents a 0.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,426,963 shares of company stock worth $757,297,707. 9.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Westpark Capital restated a "buy" rating and issued a $280.00 price target on shares of Amazon.com in a report on Friday, May 2nd. JMP Securities reissued a "market outperform" rating on shares of Amazon.com in a report on Tuesday, May 6th. DA Davidson lowered their target price on Amazon.com from $280.00 to $230.00 and set a "buy" rating for the company in a report on Monday, April 14th. JPMorgan Chase & Co. increased their target price on Amazon.com from $225.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Finally, Oppenheimer boosted their price target on Amazon.com from $215.00 to $250.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. Three analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Amazon.com currently has a consensus rating of "Moderate Buy" and an average price target of $245.60.

About Amazon.com

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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