Picton Mahoney Asset Management Raises Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Picton Mahoney Asset Management boosted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 297,573 shares of the e-commerce giant’s stock after purchasing an additional 8,636 shares during the quarter. Amazon.com accounts for approximately 2.3% of Picton Mahoney Asset Management’s holdings, making the stock its 3rd biggest position. Picton Mahoney Asset Management’s holdings in Amazon.com were worth $57,504,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of AMZN. Summa Corp. bought a new position in shares of Amazon.com in the 4th quarter valued at about $1,506,000. Advantage Trust Co bought a new stake in Amazon.com in the 4th quarter valued at $68,000. Arcadia Investment Management Corp MI grew its holdings in Amazon.com by 12.9% in the 4th quarter. Arcadia Investment Management Corp MI now owns 67,291 shares of the e-commerce giant’s stock valued at $10,224,000 after buying an additional 7,676 shares in the last quarter. Vestor Capital LLC raised its position in shares of Amazon.com by 12.8% in the fourth quarter. Vestor Capital LLC now owns 291,414 shares of the e-commerce giant’s stock valued at $44,277,000 after buying an additional 33,165 shares in the last quarter. Finally, Ethos Financial Group LLC grew its stake in Amazon.com by 7.7% during the fourth quarter. Ethos Financial Group LLC now owns 23,596 shares of the e-commerce giant’s stock worth $3,586,000 after buying an additional 1,687 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AMZN. The Goldman Sachs Group lowered their target price on Amazon.com from $250.00 to $230.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $215.00 target price on shares of Amazon.com in a report on Friday, August 2nd. JPMorgan Chase & Co. decreased their target price on Amazon.com from $240.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. TD Securities lifted their price target on Amazon.com from $225.00 to $245.00 in a research report on Wednesday, July 10th. Finally, Wedbush reaffirmed an “outperform” rating and set a $225.00 price target on shares of Amazon.com in a research note on Friday, August 2nd. One research analyst has rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $222.84.

Amazon.com Price Performance

Amazon.com stock opened at $187.97 on Friday. The company has a fifty day simple moving average of $178.83 and a 200-day simple moving average of $182.48. Amazon.com, Inc. has a 12-month low of $118.35 and a 12-month high of $201.20. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. The stock has a market cap of $1.97 trillion, a P/E ratio of 52.65, a price-to-earnings-growth ratio of 1.46 and a beta of 1.14.

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

Insider Activity

In related news, VP Shelley Reynolds sold 3,791 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the transaction, the vice president now owns 121,461 shares of the company’s stock, valued at $21,989,299.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Jeffrey P. Bezos sold 3,085,116 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $200.07, for a total value of $617,239,158.12. Following the transaction, the insider now directly owns 931,925,277 shares in the company, valued at approximately $186,450,290,169.39. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Shelley Reynolds sold 3,791 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the sale, the vice president now directly owns 121,461 shares in the company, valued at approximately $21,989,299.44. The disclosure for this sale can be found here. Insiders sold a total of 6,101,797 shares of company stock valued at $1,220,129,922 over the last 90 days. Insiders own 10.80% of the company’s stock.

Amazon.com Company 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.