Cherrydale Wealth Management LLC increased its position in Amazon.com, Inc. (NASDAQ:AMZN) by 156.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 372 shares of the e-commerce giant’s stock after purchasing an additional 227 shares during the period. Amazon.com accounts for about 0.9% of Cherrydale Wealth Management LLC’s investment portfolio, making the stock its 14th biggest holding. Cherrydale Wealth Management LLC’s holdings in Amazon.com were worth $1,212,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of AMZN. Stuart Chaussee & Associates Inc. acquired a new position in Amazon.com in the fourth quarter worth about $27,000. Econ Financial Services Corp bought a new position in Amazon.com in the fourth quarter worth about $33,000. Gibson Wealth Advisors LLC bought a new position in Amazon.com in the fourth quarter worth about $33,000. Leverty Financial Group LLC bought a new position in Amazon.com in the fourth quarter worth about $36,000. Finally, MBM Wealth Consultants LLC lifted its holdings in Amazon.com by 57.1% in the fourth quarter. MBM Wealth Consultants LLC now owns 11 shares of the e-commerce giant’s stock worth $37,000 after acquiring an additional 4 shares during the last quarter. 72.51% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the stock. Raymond James cut their target price on shares of Amazon.com from $197.50 to $165.00 in a report on Friday, April 29th. BMO Capital Markets cut their target price on shares of Amazon.com from $182.50 to $172.50 in a report on Friday, April 29th. BNP Paribas assumed coverage on shares of Amazon.com in a report on Tuesday, March 29th. They issued an “underperform” rating and a $140.00 target price on the stock. Canaccord Genuity Group cut their price target on Amazon.com from $210.00 to $187.50 in a report on Friday, April 29th. Finally, Needham & Company LLC cut their price target on Amazon.com from $207.50 to $175.00 in a report on Friday, April 29th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and thirty-eight have given a buy rating to the stock. Based on data from MarketBeat.com, Amazon.com presently has a consensus rating of “Moderate Buy” and an average target price of $182.77.
Insider Transactions at Amazon.com
In related news, CEO David H. Clark sold 2,270 shares of the stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $2,169.22, for a total value of $4,924,129.40. Following the transaction, the chief executive officer now directly owns 6,695 shares in the company, valued at $14,522,927.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, VP Shelley Reynolds sold 173 shares of the stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $2,169.22, for a total transaction of $375,275.06. Following the completion of the sale, the vice president now owns 5,989 shares of the company’s stock, valued at $12,991,458.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David H. Clark sold 2,270 shares of the stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $2,169.22, for a total transaction of $4,924,129.40. Following the sale, the chief executive officer now directly owns 6,695 shares of the company’s stock, valued at approximately $14,522,927.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,803 shares of company stock worth $10,528,337. Corporate insiders own 12.70% of the company’s stock.
Amazon.com Price Performance
Shares of AMZN stock opened at $122.77 on Thursday. Amazon.com, Inc. has a 1 year low of $101.26 and a 1 year high of $188.11. The firm’s 50 day moving average is $112.27 and its 200-day moving average is $137.34. The firm has a market capitalization of $1.25 trillion, a price-to-earnings ratio of 59.27, a PEG ratio of 3.70 and a beta of 1.25. The company has a current ratio of 0.96, a quick ratio of 0.71 and a debt-to-equity ratio of 0.35.
Amazon.com (NASDAQ:AMZN – Get Rating) last announced its earnings results on Thursday, April 28th. The e-commerce giant reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.23). Amazon.com had a return on equity of 21.60% and a net margin of 4.48%. The company had revenue of $116.44 billion for the quarter, compared to analyst estimates of $116.52 billion. During the same quarter in the previous year, the company posted $0.79 earnings per share. Amazon.com’s revenue for the quarter was up 7.3% on a year-over-year basis. Sell-side analysts forecast that Amazon.com, Inc. will post 1.15 EPS for the current fiscal year.
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). It sells merchandise and content purchased for resale from third-party sellers through physical and online stores.
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