Core Wealth Management Inc. Invests $225,000 in Amazon.com, Inc. (NASDAQ:AMZN)

Core Wealth Management Inc. acquired a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,250 shares of the e-commerce giant’s stock, valued at approximately $225,000. Amazon.com makes up about 0.1% of Core Wealth Management Inc.’s portfolio, making the stock its 20th largest holding.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Amazon.com by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 771,086,427 shares of the e-commerce giant’s stock valued at $117,158,872,000 after purchasing an additional 13,134,632 shares in the last quarter. FMR LLC grew its position in Amazon.com by 7.7% in the third quarter. FMR LLC now owns 302,101,441 shares of the e-commerce giant’s stock valued at $38,403,135,000 after purchasing an additional 21,649,871 shares in the last quarter. Norges Bank bought a new position in Amazon.com in the fourth quarter valued at $17,700,551,000. Northern Trust Corp grew its position in Amazon.com by 3.7% in the third quarter. Northern Trust Corp now owns 92,329,336 shares of the e-commerce giant’s stock valued at $11,736,905,000 after purchasing an additional 3,260,411 shares in the last quarter. Finally, Jennison Associates LLC grew its position in Amazon.com by 2.5% in the fourth quarter. Jennison Associates LLC now owns 56,371,051 shares of the e-commerce giant’s stock valued at $8,565,017,000 after purchasing an additional 1,389,503 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

Insider Activity at Amazon.com

In related news, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $155.72, for a total transaction of $77,860.00. Following the sale, the chief executive officer now directly owns 116,560 shares of the company’s stock, valued at approximately $18,150,723.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Andrew R. Jassy sold 50,000 shares of Amazon.com stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $168.65, for a total transaction of $8,432,500.00. Following the sale, the chief executive officer now directly owns 2,014,055 shares of the company’s stock, valued at approximately $339,670,375.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $155.72, for a total transaction of $77,860.00. Following the sale, the chief executive officer now directly owns 116,560 shares in the company, valued at $18,150,723.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,214,010 shares of company stock valued at $5,505,889,146. 10.80% of the stock is owned by insiders.

Amazon.com Price Performance

AMZN stock traded down $5.96 during mid-day trading on Tuesday, hitting $175.00. The stock had a trading volume of 93,825,266 shares, compared to its average volume of 43,548,449. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.29. Amazon.com, Inc. has a 52 week low of $101.15 and a 52 week high of $189.77. The firm has a market capitalization of $1.82 trillion, a P/E ratio of 60.34, a P/E/G ratio of 1.55 and a beta of 1.17. The firm has a fifty day simple moving average of $178.38 and a 200 day simple moving average of $159.64.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, February 1st. The e-commerce giant reported $1.00 EPS for the quarter, beating the consensus estimate of $0.81 by $0.19. Amazon.com had a net margin of 5.29% and a return on equity of 16.61%. The firm had revenue of $169.96 billion for the quarter, compared to analyst estimates of $165.96 billion. During the same period last year, the firm earned $0.21 EPS. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. As a group, research analysts forecast that Amazon.com, Inc. will post 4.11 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on AMZN shares. Piper Sandler raised their target price on shares of Amazon.com from $185.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $205.00 price target on shares of Amazon.com in a research note on Thursday, April 18th. JPMorgan Chase & Co. increased their price target on shares of Amazon.com from $190.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Royal Bank of Canada increased their price target on shares of Amazon.com from $180.00 to $215.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $225.00 price target on shares of Amazon.com in a research note on Wednesday, April 24th. One research analyst has rated the stock with a hold rating, forty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Amazon.com presently has a consensus rating of “Buy” and a consensus price target of $205.13.

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.