Bridges Investment Management Inc. Grows Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Bridges Investment Management Inc. boosted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 134.7% in the second quarter, Holdings Channel reports. The firm owned 1,613,024 shares of the e-commerce giant’s stock after purchasing an additional 925,822 shares during the period. Amazon.com accounts for 4.7% of Bridges Investment Management Inc.’s investment portfolio, making the stock its 4th biggest holding. Bridges Investment Management Inc.’s holdings in Amazon.com were worth $311,717,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of AMZN. PayPay Securities Corp lifted its holdings in shares of Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after purchasing an additional 64 shares in the last quarter. Christopher J. Hasenberg Inc raised its holdings in Amazon.com by 650.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after buying an additional 260 shares during the period. Steph & Co. bought a new position in Amazon.com in the first quarter valued at approximately $65,000. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of Amazon.com in the first quarter valued at approximately $69,000. Finally, Innealta Capital LLC bought a new stake in shares of Amazon.com during the second quarter worth $77,000. Institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AMZN shares. Barclays raised their price objective on shares of Amazon.com from $220.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. TD Securities lifted their price target on Amazon.com from $225.00 to $245.00 in a research note on Wednesday, July 10th. Morgan Stanley restated an “overweight” rating and issued a $210.00 price target on shares of Amazon.com in a report on Thursday, October 3rd. Needham & Company LLC reiterated a “buy” rating and set a $210.00 price objective on shares of Amazon.com in a report on Thursday, September 12th. Finally, JMP Securities reissued a “market outperform” rating and issued a $265.00 target price on shares of Amazon.com in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $236.78.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $188.99 on Monday. The business’s 50 day moving average is $181.98 and its 200-day moving average is $183.43. The firm has a market cap of $1.97 trillion, a P/E ratio of 52.94, a price-to-earnings-growth ratio of 1.38 and a beta of 1.14. Amazon.com, Inc. has a 1-year low of $118.35 and a 1-year 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.

Amazon.com (NASDAQ:AMZN) last posted 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. The firm had revenue of $147.98 billion for the quarter, compared to analysts’ expectations of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. Equities research analysts predict that Amazon.com, Inc. will post 4.85 earnings per share for the current year.

Insider Buying and Selling

In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the sale, the senior vice president now owns 62,420 shares of the company’s stock, valued at $12,171,900. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the sale, the senior vice president now directly owns 62,420 shares in the company, valued at approximately $12,171,900. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $189.25, for a total value of $662,375.00. Following the completion of the sale, the chief executive officer now owns 503,753 shares of the company’s stock, valued at approximately $95,335,255.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,355 shares of company stock valued at $9,877,423. 10.80% of the stock is owned by company insiders.

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.