Legend Financial Advisors Inc. Increases Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Legend Financial Advisors Inc. boosted its position in Amazon.com, Inc. (NASDAQ:AMZN) by 22.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 7,778 shares of the e-commerce giant’s stock after purchasing an additional 1,412 shares during the period. Amazon.com accounts for approximately 1.0% of Legend Financial Advisors Inc.’s portfolio, making the stock its 16th biggest position. Legend Financial Advisors Inc.’s holdings in Amazon.com were worth $1,449,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. PayPay Securities Corp increased its stake in shares of Amazon.com by 64.6% in the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after acquiring an additional 64 shares during the period. Hoese & Co LLP purchased a new stake in Amazon.com in the third quarter valued at $37,000. Christopher J. Hasenberg Inc grew its position in Amazon.com by 650.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after purchasing an additional 260 shares during the period. Koesten Hirschmann & Crabtree INC. purchased a new position in shares of Amazon.com during the 1st quarter valued at about $69,000. Finally, Innealta Capital LLC purchased a new position in shares of Amazon.com during the 2nd quarter valued at about $77,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Trading Down 0.4 %

Shares of AMZN opened at $201.70 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $191.69 and a 200 day moving average price of $185.93. Amazon.com, Inc. has a 12-month low of $141.50 and a 12-month high of $215.90. The firm has a market capitalization of $2.12 trillion, a P/E ratio of 43.19, a P/E/G ratio of 1.36 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.29. The business had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.85 EPS. Sell-side analysts forecast that Amazon.com, Inc. will post 5.27 EPS for the current year.

Insider Buying and Selling

In other news, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total value of $3,757,123.68. Following the transaction, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. This represents a 1.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brian T. Olsavsky sold 14,600 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total value of $2,628,000.00. Following the transaction, the chief financial officer now owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. This represents a 22.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,053,349 shares of company stock worth $1,256,503,289. Company insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

AMZN has been the topic of a number of recent research reports. Susquehanna upped their target price on Amazon.com from $220.00 to $230.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Wedbush upped their price objective on Amazon.com from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Piper Sandler lifted their target price on shares of Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, November 1st. BMO Capital Markets reiterated an “outperform” rating and issued a $236.00 target price (up from $230.00) on shares of Amazon.com in a research note on Friday, November 1st. Finally, Wells Fargo & Company lowered shares of Amazon.com from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $225.00 to $183.00 in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating, forty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $235.45.

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.