West Coast Financial LLC Grows Stake in Amazon.com, Inc. (NASDAQ:AMZN)

West Coast Financial LLC grew its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 3,032.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,685 shares of the e-commerce giant's stock after buying an additional 49,067 shares during the period. Amazon.com accounts for 1.2% of West Coast Financial LLC's investment portfolio, making the stock its 22nd largest position. West Coast Financial LLC's holdings in Amazon.com were worth $11,120,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AMZN. Hoese & Co LLP bought a new stake in shares of Amazon.com during the 3rd quarter valued at $37,000. Bull Oak Capital LLC bought a new stake in shares of Amazon.com during the 3rd quarter valued at $45,000. Values First Advisors Inc. bought a new stake in shares of Amazon.com during the 3rd quarter valued at $56,000. IFS Advisors LLC raised its stake in shares of Amazon.com by 1,625.0% during the 4th quarter. IFS Advisors LLC now owns 345 shares of the e-commerce giant's stock valued at $76,000 after purchasing an additional 325 shares during the period. Finally, West Financial Advisors LLC bought a new stake in shares of Amazon.com during the 4th quarter valued at $88,000. Hedge funds and other institutional investors own 72.20% of the company's stock.

Amazon.com Price Performance

Shares of AMZN stock traded down $2.43 during trading hours on Thursday, hitting $234.64. The stock had a trading volume of 31,950,988 shares, compared to its average volume of 32,440,846. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $241.77. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The stock's 50-day moving average price is $222.30 and its two-hundred day moving average price is $198.30. The stock has a market capitalization of $2.47 trillion, a price-to-earnings ratio of 50.24, a PEG ratio of 1.31 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm had revenue of $158.88 billion for the quarter, compared to analysts' expectations of $157.28 billion. During the same period in the prior year, the company earned $0.85 EPS. The business's revenue was up 11.0% compared to the same quarter last year. Equities analysts forecast that Amazon.com, Inc. will post 5.39 EPS for the current year.

Insider Activity

In other news, insider Jeffrey P. Bezos sold 2,996,362 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $208.85, for a total value of $625,790,203.70. Following the sale, the insider now directly owns 917,416,976 shares in the company, valued at approximately $191,602,535,437.60. This represents a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the sale, the director now owns 24,912 shares in the company, valued at approximately $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,032,344 shares of company stock valued at $1,253,456,822 in the last ninety days. Insiders own 10.80% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on AMZN shares. Loop Capital boosted their price objective on Amazon.com from $225.00 to $275.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Pivotal Research initiated coverage on Amazon.com in a research note on Friday, October 11th. They issued a "buy" rating and a $260.00 target price on the stock. Piper Sandler upped their target price on Amazon.com from $215.00 to $225.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. BMO Capital Markets restated an "outperform" rating and issued a $236.00 target price on shares of Amazon.com in a research note on Tuesday, December 3rd. Finally, Raymond James upped their target price on Amazon.com from $230.00 to $260.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, January 21st. Two analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $249.46.

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.