Pallas Capital Advisors LLC Purchases 3,367 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Pallas Capital Advisors LLC grew its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 233,579 shares of the e-commerce giant’s stock after purchasing an additional 3,367 shares during the quarter. Amazon.com makes up 1.8% of Pallas Capital Advisors LLC’s holdings, making the stock its 6th biggest holding. Pallas Capital Advisors LLC’s holdings in Amazon.com were worth $42,920,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AMZN. Garrison Point Advisors LLC boosted its position in shares of Amazon.com by 0.3% during the first quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock valued at $3,675,000 after buying an additional 55 shares during the last quarter. Meridian Investment Counsel Inc. boosted its position in shares of Amazon.com by 1.8% during the second quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock valued at $594,000 after buying an additional 55 shares during the last quarter. Ridgecrest Wealth Partners LLC boosted its position in shares of Amazon.com by 0.7% during the first quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock valued at $1,399,000 after buying an additional 56 shares during the last quarter. Stordahl Capital Management Inc. boosted its position in shares of Amazon.com by 2.1% during the first quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock valued at $498,000 after buying an additional 56 shares during the last quarter. Finally, Lutz Financial Services LLC boosted its position in shares of Amazon.com by 1.9% during the first quarter. Lutz Financial Services LLC now owns 3,053 shares of the e-commerce giant’s stock valued at $551,000 after buying an additional 57 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Jeffrey P. Bezos sold 3,085,116 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $200.07, for a total value of $617,239,158.12. Following the completion of the transaction, the insider now owns 931,925,277 shares of the company’s stock, valued at approximately $186,450,290,169.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Jeffrey P. Bezos sold 3,085,116 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $200.07, for a total value of $617,239,158.12. Following the completion of the transaction, the insider now owns 931,925,277 shares of the company’s stock, valued at approximately $186,450,290,169.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction that occurred on 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 directly owns 519,753 shares of the company’s stock, valued at approximately $101,866,390.47. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,104,317 shares of company stock worth $1,220,621,322. 10.80% of the stock is currently owned by company insiders.

Amazon.com Trading Down 3.7 %

NASDAQ AMZN opened at $171.39 on Friday. Amazon.com, Inc. has a fifty-two week low of $118.35 and a fifty-two week high of $201.20. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. The stock has a 50 day simple moving average of $181.10 and a two-hundred day simple moving average of $181.29. The stock has a market cap of $1.78 trillion, a P/E ratio of 48.01, a price-to-earnings-growth ratio of 1.34 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share 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. On average, analysts forecast that Amazon.com, Inc. will post 4.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AMZN has been the topic of several research analyst reports. Barclays boosted their price objective on Amazon.com from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Roth Mkm boosted their price objective on Amazon.com from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Stifel Nicolaus cut their price objective on Amazon.com from $228.00 to $224.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Wolfe Research began coverage on Amazon.com in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $250.00 price objective on the stock. Finally, Tigress Financial boosted their target price on Amazon.com from $210.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. One research analyst has rated the stock with a hold rating, forty have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Amazon.com has a consensus rating of “Buy” and a consensus target price of $222.49.

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.