Hidden Cove Wealth Management LLC Makes New Investment in Amazon.com, Inc. (NASDAQ:AMZN)

Hidden Cove Wealth Management LLC acquired a new stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 8,939 shares of the e-commerce giant's stock, valued at approximately $1,961,000. Amazon.com accounts for 1.6% of Hidden Cove Wealth Management LLC's portfolio, making the stock its 14th largest holding.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMZN. International Assets Investment Management LLC raised its stake in Amazon.com by 20,897.2% in the 3rd quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant's stock valued at $72,921,080,000 after acquiring an additional 38,949,065 shares during the period. Parnassus Investments LLC increased its position in shares of Amazon.com by 82,457.3% during the third quarter. Parnassus Investments LLC now owns 11,405,294 shares of the e-commerce giant's stock valued at $2,125,148,000 after buying an additional 11,391,479 shares during the period. State Street Corp increased its position in shares of Amazon.com by 3.3% during the third quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant's stock valued at $66,926,008,000 after buying an additional 11,370,309 shares during the period. Geode Capital Management LLC increased its position in shares of Amazon.com by 3.4% during the third quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant's stock valued at $37,116,341,000 after buying an additional 6,545,944 shares during the period. Finally, Strategic Financial Concepts LLC increased its position in shares of Amazon.com by 23,742.9% during the fourth quarter. Strategic Financial Concepts LLC now owns 5,102,618 shares of the e-commerce giant's stock valued at $1,119,463,000 after buying an additional 5,081,217 shares during the period. 72.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $220.65, for a total transaction of $4,585,989.60. Following the completion of the transaction, the chief executive officer now owns 2,118,886 shares of the company's stock, valued at approximately $467,532,195.90. This trade represents a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP David Zapolsky sold 19,212 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $217.50, for a total transaction of $4,178,610.00. Following the transaction, the senior vice president now directly owns 49,950 shares of the company's stock, valued at $10,864,125. This represents a 27.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 102,298 shares of company stock valued at $22,871,828 over the last three months. Corporate insiders own 10.80% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on AMZN shares. Benchmark upped their price target on Amazon.com from $215.00 to $265.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. Royal Bank of Canada upped their price target on Amazon.com from $255.00 to $265.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Rosenblatt Securities upped their price target on Amazon.com from $236.00 to $287.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Mizuho upped their price target on Amazon.com from $240.00 to $260.00 and gave the company an "outperform" rating in a research report on Tuesday, December 10th. Finally, Morgan Stanley upped their price target on Amazon.com from $230.00 to $280.00 and gave the company an "overweight" rating in a research report on Monday, January 13th. Two analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $260.65.

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Amazon.com Price Performance

AMZN stock opened at $196.59 on Wednesday. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The company has a market cap of $2.08 trillion, a P/E ratio of 35.55, a PEG ratio of 1.50 and a beta of 1.19. The firm has a 50-day moving average of $223.12 and a 200 day moving average of $207.25. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. On average, sell-side analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current year.

Amazon.com 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.

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