Wealthedge Investment Advisors LLC Takes $5.13 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Wealthedge Investment Advisors LLC bought a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 23,396 shares of the e-commerce giant's stock, valued at approximately $5,133,000. Amazon.com comprises approximately 2.3% of Wealthedge Investment Advisors LLC's investment portfolio, making the stock its 10th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. 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. Quattro Financial Advisors LLC lifted its position in shares of Amazon.com by 23.8% in the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant's stock worth $51,000 after purchasing an additional 45 shares during the period. Northern Capital Management Inc. boosted its position in Amazon.com by 0.6% during the 4th quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant's stock valued at $1,613,000 after acquiring an additional 45 shares in the last quarter. White Wing Wealth Management lifted 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 valued at $433,000 after buying an additional 47 shares during the last quarter. Finally, MBM Wealth Consultants LLC increased its position in shares of Amazon.com by 0.6% during the fourth quarter. MBM Wealth Consultants LLC now owns 8,578 shares of the e-commerce giant's stock worth $1,889,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

AMZN has been the topic of a number of research reports. Wells Fargo & Company cut their price objective on Amazon.com from $207.00 to $203.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 25th. Westpark Capital reissued a "buy" rating and set a $280.00 price target on shares of Amazon.com in a report on Friday, May 2nd. The Goldman Sachs Group cut their price objective on shares of Amazon.com from $255.00 to $220.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Scotiabank dropped their target price on Amazon.com from $306.00 to $250.00 and set a "sector outperform" rating on the stock in a research report on Monday, April 21st. Finally, Royal Bank of Canada reduced their price target on Amazon.com from $235.00 to $230.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Four analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $244.89.

Amazon.com Price Performance

Shares of AMZN opened at $213.57 on Friday. The company has a market cap of $2.27 trillion, a P/E ratio of 38.62, a PEG ratio of 1.50 and a beta of 1.33. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The firm's 50 day moving average price is $191.84 and its 200 day moving average price is $208.75.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.21. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. The business had revenue of $155.67 billion for the quarter, compared to analysts' expectations of $154.96 billion. During the same period last year, the firm earned $0.98 earnings per share. The company's revenue for the quarter was up 8.6% compared to the same quarter last year. On average, research analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insider Transactions at Amazon.com

In other news, VP Shelley Reynolds sold 2,695 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $200.79, for a total value of $541,129.05. Following the transaction, the vice president now owns 119,780 shares in the company, valued at approximately $24,050,626.20. This represents a 2.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Douglas J. Herrington sold 2,500 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $190.67, for a total value of $476,675.00. Following the sale, the chief executive officer now owns 506,974 shares of the company's stock, valued at approximately $96,664,732.58. The trade was a 0.49% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 102,037 shares of company stock valued at $20,531,075. 9.70% of the stock is currently owned by corporate insiders.

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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