Magnolia Wealth Management LLC Acquires New Position in Amazon.com, Inc. (NASDAQ:AMZN)

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Magnolia Wealth Management LLC acquired a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 1,897 shares of the e-commerce giant’s stock, valued at approximately $5,944,000. Amazon.com makes up approximately 0.1% of Magnolia Wealth Management LLC’s portfolio, making the stock its 23rd largest holding.

Several other large investors also recently bought and sold shares of AMZN. Norges Bank purchased a new stake in Amazon.com during the 4th quarter valued at about $14,053,756,000. Castleview Partners LLC purchased a new stake in shares of Amazon.com in the 4th quarter valued at approximately $1,143,000. Fairfield Bush & CO. grew its stake in shares of Amazon.com by 28,715.3% in the 4th quarter. Fairfield Bush & CO. now owns 1,336,741 shares of the e-commerce giant’s stock valued at $11,353,000 after buying an additional 1,332,102 shares during the period. State Street Corp grew its stake in shares of Amazon.com by 4.3% in the 4th quarter. State Street Corp now owns 17,021,616 shares of the e-commerce giant’s stock valued at $56,755,855,000 after buying an additional 698,970 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Amazon.com in the 4th quarter valued at approximately $2,059,691,000. Hedge funds and other institutional investors own 72.51% of the company’s stock.

Insiders Place Their Bets

In other news, CEO David H. Clark sold 2,270 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 6,695 shares of the company’s stock, valued at $14,522,927.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Brian T. Olsavsky sold 761 shares of the business’s 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 $1,650,776.42. Following the completion of the sale, the chief financial officer now directly owns 2,375 shares in the company, valued at $5,151,897.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO David H. Clark sold 2,270 shares of the business’s 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 transaction of $4,924,129.40. Following the completion of the sale, the chief executive officer now owns 6,695 shares of the company’s stock, valued at $14,522,927.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,803 shares of company stock worth $10,528,337. Insiders own 12.70% of the company’s stock.

Analyst Upgrades and Downgrades

AMZN has been the subject of several analyst reports. MKM Partners dropped their price target on shares of Amazon.com from $205.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, April 20th. Rosenblatt Securities started coverage on shares of Amazon.com in a research report on Tuesday, April 19th. They set a “neutral” rating and a $150.00 price objective for the company. Barclays lowered their price objective on shares of Amazon.com to $195.00 and set an “overweight” rating for the company in a research report on Friday, July 15th. Robert W. Baird lowered their price objective on shares of Amazon.com from $200.00 to $187.50 in a research report on Friday, April 29th. Finally, Wolfe Research lowered their price objective on shares of Amazon.com from $145.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, June 29th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and thirty-eight have given a buy rating to the company’s stock. According to data from MarketBeat, Amazon.com currently has an average rating of “Moderate Buy” and a consensus price target of $181.31.

Amazon.com Stock Down 1.8 %

Shares of NASDAQ:AMZN opened at $122.42 on Monday. The company has a market cap of $1.25 trillion, a price-to-earnings ratio of 59.10, a PEG ratio of 4.18 and a beta of 1.25. The firm’s 50-day simple moving average is $112.81 and its 200-day simple moving average is $136.32. The company has a quick ratio of 0.71, a current ratio of 0.96 and a debt-to-equity ratio of 0.35. Amazon.com, Inc. has a fifty-two week low of $101.26 and a fifty-two week high of $188.11.

Amazon.com (NASDAQ:AMZNGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The e-commerce giant reported $0.21 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.23). Amazon.com had a net margin of 4.48% and a return on equity of 21.60%. The company had revenue of $116.44 billion during the quarter, compared to analyst estimates of $116.52 billion. During the same quarter last year, the business earned $0.79 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities research analysts predict that Amazon.com, Inc. will post 1.13 earnings per share for the current year.

Amazon.com Company Profile

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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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