Coastal Investment Advisors Inc. raised its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 8.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,888 shares of the e-commerce giant’s stock after buying an additional 565 shares during the period. Amazon.com comprises about 6.4% of Coastal Investment Advisors Inc.’s holdings, making the stock its 2nd largest position. Coastal Investment Advisors Inc.’s holdings in Amazon.com were worth $22,434,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of AMZN. Great West Life Assurance Co. Can raised its stake in shares of Amazon.com by 10,079.3% in the 3rd quarter. Great West Life Assurance Co. Can now owns 35,526,382 shares of the e-commerce giant’s stock valued at $1,079,517,000 after purchasing an additional 35,177,377 shares in the last quarter. SB Management Ltd acquired a new position in Amazon.com during the 3rd quarter worth $6,331,054,000. Arrowstreet Capital Limited Partnership boosted its position in Amazon.com by 120.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,057,107 shares of the e-commerce giant’s stock worth $3,328,545,000 after acquiring an additional 576,587 shares during the period. Softbank Group Corp acquired a new position in Amazon.com during the 2nd quarter worth $1,044,131,000. Finally, Morgan Stanley boosted its position in Amazon.com by 5.6% during the 3rd quarter. Morgan Stanley now owns 4,875,392 shares of the e-commerce giant’s stock worth $15,351,296,000 after acquiring an additional 258,869 shares during the period. Institutional investors and hedge funds own 56.39% of the company’s stock.
AMZN opened at $3,165.89 on Thursday. The company has a market cap of $1.59 trillion, a PE ratio of 92.71, a price-to-earnings-growth ratio of 2.43 and a beta of 1.19. The stock has a 50-day moving average of $3,186.56 and a 200-day moving average of $3,160.85. Amazon.com, Inc. has a 52-week low of $1,626.03 and a 52-week high of $3,552.25. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.88 and a current ratio of 1.11.
In related news, CEO Jeffrey A. Wilke sold 1,200 shares of the stock in a transaction that occurred on Monday, November 16th. The stock was sold at an average price of $3,114.36, for a total transaction of $3,737,232.00. Following the completion of the sale, the chief executive officer now owns 8,291 shares in the company, valued at approximately $25,821,158.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Andrew R. Jassy sold 6,945 shares of the stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $3,061.74, for a total value of $21,263,784.30. Following the sale, the chief executive officer now owns 82,599 shares of the company’s stock, valued at approximately $252,896,662.26. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,927 shares of company stock valued at $46,256,596. 16.10% of the stock is owned by corporate insiders.
AMZN has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on Amazon.com from $4,050.00 to $4,100.00 and gave the stock a “buy” rating in a research report on Friday, October 30th. Zacks Investment Research lowered Amazon.com from a “buy” rating to a “hold” rating and set a $3,277.00 price objective for the company. in a report on Wednesday. Piper Sandler reaffirmed an “overweight” rating and set a $3,903.00 target price (up from $3,860.00) on shares of Amazon.com in a research report on Friday, October 30th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Amazon.com in a research report on Friday, October 30th. Finally, Smith Barney Citigroup boosted their target price on Amazon.com from $3,550.00 to $3,600.00 in a research report on Tuesday, November 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and forty-seven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $3,645.47.
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). It sells merchandise and content purchased for resale from third-party sellers through physical and online stores.
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