Lynch Asset Management Inc. Has $8.10 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Lynch Asset Management Inc. lowered its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,900 shares of the e-commerce giant’s stock after selling 1,000 shares during the quarter. Amazon.com comprises 3.5% of Lynch Asset Management Inc.’s investment portfolio, making the stock its 6th biggest holding. Lynch Asset Management Inc.’s holdings in Amazon.com were worth $8,097,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Cooksen Wealth LLC acquired a new stake in Amazon.com during the fourth quarter worth approximately $30,000. Clarity Asset Management Inc. acquired a new position in Amazon.com in the fourth quarter valued at approximately $46,000. Steph & Co. bought a new position in shares of Amazon.com during the 1st quarter worth approximately $65,000. Advantage Trust Co acquired a new stake in shares of Amazon.com during the 4th quarter worth approximately $68,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in shares of Amazon.com in the 1st quarter valued at $69,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on AMZN shares. Maxim Group raised their price target on shares of Amazon.com from $238.00 to $251.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. The Goldman Sachs Group reduced their price objective on Amazon.com from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Wedbush reiterated an “outperform” rating and set a $225.00 price objective on shares of Amazon.com in a report on Friday, August 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $215.00 price target on shares of Amazon.com in a report on Friday, August 2nd. Finally, Jefferies Financial Group dropped their price objective on Amazon.com from $235.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. One research analyst has rated the stock with a hold rating, forty have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Amazon.com has an average rating of “Buy” and an average price target of $222.49.

Insider Activity at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $195.99, for a total value of $685,965.00. Following the sale, the chief executive officer now directly owns 519,753 shares in the company, valued at approximately $101,866,390.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Brian T. Olsavsky sold 14,600 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the completion of the transaction, the chief financial officer now owns 49,000 shares of the company’s stock, valued at $8,820,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of the firm’s 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 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. Corporate insiders own 10.80% of the company’s stock.

Amazon.com Price Performance

Amazon.com stock opened at $171.39 on Monday. The firm has a market capitalization of $1.78 trillion, a P/E ratio of 48.01, a PEG ratio of 1.34 and a beta of 1.14. Amazon.com, Inc. has a one year low of $118.35 and a one year high of $201.20. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88. The business has a fifty day moving average price of $181.10 and a 200-day moving average price of $181.38.

Amazon.com (NASDAQ:AMZN) last issued 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 the consensus estimate of $148.63 billion. As a group, equities research analysts forecast that Amazon.com, Inc. will post 4.86 EPS for the current year.

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.