Seaside Wealth Management Inc. Invests $359,000 in Amazon.com, Inc. (NASDAQ:AMZN)

Seaside Wealth Management Inc. acquired a new stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 1,886 shares of the e-commerce giant's stock, valued at approximately $359,000.

A number of other hedge funds have also recently bought and sold shares of AMZN. Welch & Forbes LLC raised its stake in Amazon.com by 2.2% during the 1st quarter. Welch & Forbes LLC now owns 532,722 shares of the e-commerce giant's stock worth $101,356,000 after buying an additional 11,255 shares during the period. Altman Advisors Inc. raised its stake in shares of Amazon.com by 0.4% in the 1st quarter. Altman Advisors Inc. now owns 34,071 shares of the e-commerce giant's stock valued at $6,283,000 after purchasing an additional 152 shares during the period. SeaBridge Investment Advisors LLC raised its stake in shares of Amazon.com by 4.0% in the 1st quarter. SeaBridge Investment Advisors LLC now owns 34,176 shares of the e-commerce giant's stock valued at $6,502,000 after purchasing an additional 1,313 shares during the period. Cable Hill Partners LLC grew its holdings in shares of Amazon.com by 3.0% in the 1st quarter. Cable Hill Partners LLC now owns 9,872 shares of the e-commerce giant's stock valued at $1,821,000 after acquiring an additional 284 shares in the last quarter. Finally, Cullen Frost Bankers Inc. grew its holdings in shares of Amazon.com by 0.8% in the 1st quarter. Cullen Frost Bankers Inc. now owns 983,936 shares of the e-commerce giant's stock valued at $187,204,000 after acquiring an additional 7,369 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors.

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 shares were sold at an average price of $217.00, for a total transaction of $542,500.00. Following the completion of the transaction, the chief executive officer directly owned 512,050 shares of the company's stock, valued at approximately $111,114,850. This represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 transaction of $609,059,211.06. Following the transaction, the insider directly owned 883,779,901 shares of the company's stock, valued at approximately $203,649,402,587.43. This trade represents a 0.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,096,253 shares of company stock valued at $5,673,745,409. Company insiders own 9.70% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Piper Sandler raised their price objective on Amazon.com from $250.00 to $255.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Oppenheimer decreased their price objective on Amazon.com from $250.00 to $245.00 and set an "outperform" rating for the company in a report on Friday, August 1st. Evercore ISI restated an "outperform" rating and issued a $280.00 price objective on shares of Amazon.com in a report on Wednesday. Jefferies Financial Group lifted their price target on Amazon.com from $255.00 to $265.00 in a report on Wednesday, July 16th. Finally, Susquehanna lifted their price target on Amazon.com from $225.00 to $260.00 and gave the stock a "positive" rating in a 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $262.87.

Amazon.com Price Performance

Shares of AMZN traded up $0.05 during mid-day trading on Friday, reaching $231.03. 39,600,434 shares of the stock traded hands, compared to its average volume of 47,994,872. The firm has a fifty day moving average price of $221.41 and a 200 day moving average price of $208.44. The company has a market cap of $2.46 trillion, a price-to-earnings ratio of 35.22, a price-to-earnings-growth ratio of 1.56 and a beta of 1.31. 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, Inc. has a 1 year low of $161.38 and a 1 year high of $242.52.

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