Shorepoint Capital Partners LLC Takes Position in Amazon.com, Inc. $AMZN

Shorepoint Capital Partners LLC bought a new stake in Amazon.com, Inc. (NASDAQ:AMZN) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,784 shares of the e-commerce giant’s stock, valued at approximately $5,222,000.

Other institutional investors have also recently bought and sold shares of the company. Carderock Capital Management Inc. acquired a new stake in shares of Amazon.com during the 2nd quarter valued at about $27,000. Maryland Capital Advisors Inc. grew its stake in shares of Amazon.com by 81.9% in the 2nd quarter. Maryland Capital Advisors Inc. now owns 211 shares of the e-commerce giant’s stock valued at $46,000 after purchasing an additional 95 shares during the period. Ryan Investment Management Inc. acquired a new position in shares of Amazon.com in the 2nd quarter worth approximately $48,000. Cooksen Wealth LLC lifted its position in shares of Amazon.com by 23.5% during the 2nd quarter. Cooksen Wealth LLC now owns 247 shares of the e-commerce giant’s stock worth $54,000 after buying an additional 47 shares during the period. Finally, MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Amazon.com during the 1st quarter worth approximately $59,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $221.27 on Thursday. The firm has a 50 day simple moving average of $229.32 and a 200 day simple moving average of $225.23. Amazon.com, Inc. has a fifty-two week low of $161.38 and a fifty-two week high of $258.60. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.01 and a quick ratio of 0.80. The firm has a market cap of $2.37 trillion, a P/E ratio of 31.25, a P/E/G ratio of 1.53 and a beta of 1.37.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, October 30th. The e-commerce giant reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.38. Amazon.com had a return on equity of 23.62% and a net margin of 11.06%.The firm had revenue of $180.17 billion for the quarter, compared to analyst estimates of $177.53 billion. During the same period last year, the company earned $1.43 EPS. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. Sell-side analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insider Activity at Amazon.com

In related news, CEO Douglas J. Herrington sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $233.22, for a total transaction of $583,050.00. Following the completion of the sale, the chief executive officer directly owned 505,934 shares of the company’s stock, valued at $117,993,927.48. The trade was a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Andrew R. Jassy sold 19,872 shares of Amazon.com stock in a transaction on Friday, November 21st. The stock was sold at an average price of $216.94, for a total transaction of $4,311,031.68. Following the sale, the chief executive officer directly owned 2,208,310 shares of the company’s stock, valued at $479,070,771.40. This represents a 0.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 82,234 shares of company stock worth $19,076,767 over the last 90 days. Insiders own 9.70% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. President Capital increased their price objective on Amazon.com from $280.00 to $320.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Telsey Advisory Group increased their target price on shares of Amazon.com from $265.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. DA Davidson boosted their price target on shares of Amazon.com from $265.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, October 31st. CICC Research upped their price objective on shares of Amazon.com from $240.00 to $280.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 5th. Finally, BNP Paribas Exane assumed coverage on shares of Amazon.com in a research note on Monday, November 24th. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, fifty-six have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $295.50.

About Amazon.com

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.