Noble Wealth Management PBC Makes New Investment in Amazon.com, Inc. (NASDAQ:AMZN)

Noble Wealth Management PBC bought a new position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 5,289 shares of the e-commerce giant's stock, valued at approximately $1,160,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Proficio Capital Partners LLC increased its position in Amazon.com by 17,054.5% in the fourth quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant's stock worth $2,652,116,000 after buying an additional 12,018,120 shares in the last quarter. Parnassus Investments LLC boosted its stake in 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 last quarter. State Street Corp increased its position in Amazon.com by 3.3% in the third quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant's stock worth $66,926,008,000 after purchasing an additional 11,370,309 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Amazon.com by 3.4% during the 3rd 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 in the last quarter. Finally, Strategic Financial Concepts LLC increased its position in shares of Amazon.com by 23,742.9% during the 4th 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 purchasing an additional 5,081,217 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

AMZN has been the topic of a number of recent analyst reports. Scotiabank increased their target price on Amazon.com from $246.00 to $306.00 and gave the stock a "sector outperform" rating in a research note on Friday, January 24th. Benchmark increased their price objective on shares of Amazon.com from $215.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. Rosenblatt Securities boosted their target price on shares of Amazon.com from $236.00 to $287.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Robert W. Baird upped their price target on Amazon.com from $220.00 to $260.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Finally, Loop Capital raised their price objective on Amazon.com from $275.00 to $285.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, forty-three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Amazon.com presently has a consensus rating of "Moderate Buy" and an average target price of $260.53.

Amazon.com Price Performance

Shares of AMZN traded up $1.91 during trading hours on Tuesday, hitting $192.17. 41,171,347 shares of the stock were exchanged, compared to its average volume of 39,975,586. The stock's 50-day moving average price is $216.15 and its two-hundred day moving average price is $209.27. Amazon.com, Inc. has a 12-month low of $151.61 and a 12-month high of $242.52. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06. The company has a market cap of $2.04 trillion, a price-to-earnings ratio of 34.75, a price-to-earnings-growth ratio of 1.50 and a beta of 1.19.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, beating 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%. Research analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Buying and Selling

In other Amazon.com news, CEO Douglas J. Herrington sold 5,501 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $228.44, for a total value of $1,256,648.44. Following the completion of the sale, the chief executive officer now directly owns 505,318 shares of the company's stock, valued at $115,434,843.92. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian T. Olsavsky sold 14,620 shares of the business's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $223.14, for a total transaction of $3,262,306.80. Following the transaction, the chief financial officer now directly owns 49,000 shares in the company, valued at approximately $10,933,860. The trade was a 22.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 102,298 shares of company stock worth $22,871,828. 10.80% of the stock is owned by corporate insiders.

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.