Optimal Asset Management Inc. Grows Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)
Optimal Asset Management Inc. boosted its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 99.0% in the 1st quarter, HoldingsChannel reports. The fund owned 800 shares of the e-commerce giant’s stock after acquiring an additional 398 shares during the quarter. Optimal Asset Management Inc.’s holdings in Amazon.com were worth $1,560,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Danda Trouve Investment Management Inc. purchased a new position in Amazon.com in the fourth quarter worth $28,000. Deane Retirement Strategies Inc. grew its holdings in Amazon.com by 142.9% in the first quarter. Deane Retirement Strategies Inc. now owns 17 shares of the e-commerce giant’s stock valued at $33,000 after purchasing an additional 10 shares during the last quarter. Your Advocates Ltd. LLP acquired a new stake in Amazon.com in the first quarter valued at $37,000. ERTS Wealth Advisors LLC acquired a new stake in Amazon.com in the fourth quarter valued at $35,000. Finally, Capital Wealth Alliance LLC acquired a new stake in Amazon.com in the fourth quarter valued at $58,000. Hedge funds and other institutional investors own 64.65% of the company’s stock.
In other Amazon.com news, Director Indra K. Nooyi acquired 100 shares of Amazon.com stock in a transaction dated Wednesday, April 1st. The stock was bought at an average price of $1,930.41 per share, for a total transaction of $193,041.00. Following the transaction, the director now owns 352 shares in the company, valued at approximately $679,504.32. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Patricia Q. Stonesifer sold 2,200 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $2,329.44, for a total transaction of $5,124,768.00. Following the completion of the transaction, the director now directly owns 4,645 shares of the company’s stock, valued at approximately $10,820,248.80. The disclosure for this sale can be found here. Insiders sold a total of 9,497 shares of company stock valued at $21,605,827 in the last quarter. 16.10% of the stock is currently owned by insiders.
Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, April 30th. The e-commerce giant reported $5.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $6.36 by ($1.35). The company had revenue of $75.45 billion during the quarter, compared to the consensus estimate of $74.15 billion. Amazon.com had a net margin of 3.56% and a return on equity of 17.83%. The business’s quarterly revenue was up 26.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.09 EPS. Research analysts predict that Amazon.com, Inc. will post 20.02 EPS for the current year.
A number of research firms recently commented on AMZN. Susquehanna Bancshares reaffirmed a “positive” rating and set a $3,000.00 price objective (up previously from $2,500.00) on shares of Amazon.com in a research note on Friday, May 1st. Raymond James increased their target price on Amazon.com from $2,400.00 to $2,525.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Stifel Nicolaus increased their target price on Amazon.com from $2,400.00 to $2,600.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Bank of America increased their target price on Amazon.com from $2,600.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Finally, China International Capital raised their price objective on Amazon.com from $1,850.00 to $2,162.00 in a report on Wednesday, May 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and forty-seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $2,643.66.
Amazon.com Company Profile
Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS) segments. It sells merchandise and content purchased for resale from third-party sellers through physical stores and online stores.
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