Miracle Mile Advisors LLC Purchases 3,037 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Miracle Mile Advisors LLC boosted its position in Amazon.com, Inc. (NASDAQ:AMZN) by 1.5% during the 2nd quarter, Holdings Channel reports. The fund owned 208,507 shares of the e-commerce giant’s stock after buying an additional 3,037 shares during the period. Miracle Mile Advisors LLC’s holdings in Amazon.com were worth $40,294,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Amazon.com by 1.9% during the first quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after acquiring an additional 14,724,687 shares in the last quarter. Norges Bank acquired a new position in Amazon.com during the 4th quarter valued at about $17,700,551,000. Capital Research Global Investors increased its holdings in Amazon.com by 8.5% during the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock worth $15,689,968,000 after purchasing an additional 6,810,145 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Amazon.com by 0.5% in the first quarter. Jennison Associates LLC now owns 56,666,183 shares of the e-commerce giant’s stock worth $10,221,446,000 after purchasing an additional 295,132 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Amazon.com by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 51,920,953 shares of the e-commerce giant’s stock valued at $7,888,870,000 after purchasing an additional 1,525,922 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AMZN shares. Sanford C. Bernstein increased their price target on Amazon.com from $210.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Maxim Group raised their price target on shares of Amazon.com from $238.00 to $251.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Piper Sandler reduced their price objective on shares of Amazon.com from $220.00 to $215.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Needham & Company LLC lifted their target price on shares of Amazon.com from $205.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Robert W. Baird upped their target price on Amazon.com from $210.00 to $213.00 and gave the company an “outperform” rating in a report on Friday, June 21st. One equities research analyst has rated the stock with a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $221.36.

Insider Transactions at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $195.99, for a total transaction of $685,965.00. Following the completion of the sale, the chief executive officer now directly owns 519,753 shares in the company, valued at $101,866,390.47. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Amazon.com news, SVP David Zapolsky sold 4,710 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $195.00, for a total transaction of $918,450.00. Following the sale, the senior vice president now owns 59,500 shares in the company, valued at $11,602,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $195.99, for a total value of $685,965.00. Following the completion of the transaction, the chief executive officer now owns 519,753 shares of the company’s stock, valued at $101,866,390.47. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,104,317 shares of company stock valued at $1,220,621,322. 10.80% of the stock is owned by corporate insiders.

Amazon.com Stock Up 3.7 %

AMZN opened at $178.50 on Tuesday. The firm has a market capitalization of $1.86 trillion, a P/E ratio of 50.00, a price-to-earnings-growth ratio of 1.34 and a beta of 1.15. Amazon.com, Inc. has a one year low of $118.35 and a one year high of $201.20. The company has a fifty day moving average price of $182.54 and a 200-day moving average price of $181.21. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, topping the consensus estimate of $1.05 by $0.18. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. The business had revenue of $147.98 billion during the quarter, compared to analysts’ expectations of $148.63 billion. Equities research analysts expect that Amazon.com, Inc. will post 4.86 earnings per share for the current fiscal 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.