Zacks Investment Management Takes $191.91 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Zacks Investment Management acquired a new stake in Amazon.com, Inc. (NASDAQ:AMZN) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,029,954 shares of the e-commerce giant’s stock, valued at approximately $191,911,000. Amazon.com makes up 1.7% of Zacks Investment Management’s portfolio, making the stock its 9th biggest holding.

Other hedge funds also recently modified their holdings of the company. Icon Wealth Advisors LLC grew its position in Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after purchasing an additional 25,581 shares during the period. PayPay Securities Corp grew its position in Amazon.com by 64.6% in 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 during the period. Hoese & Co LLP acquired a new stake in Amazon.com in the 3rd quarter valued at $37,000. Bull Oak Capital LLC acquired a new stake in Amazon.com in the 3rd quarter valued at $45,000. Finally, Values First Advisors Inc. acquired a new stake in Amazon.com in the 3rd quarter valued at $56,000. Institutional investors own 72.20% of the company’s stock.

Amazon.com Trading Down 0.2 %

Shares of Amazon.com stock opened at $218.46 on Tuesday. Amazon.com, Inc. has a 12-month low of $149.91 and a 12-month high of $233.00. The company has a market cap of $2.30 trillion, a price-to-earnings ratio of 46.78, a PEG ratio of 1.54 and a beta of 1.14. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The company’s 50-day moving average price is $216.66 and its 200-day moving average price is $195.57.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. During the same period in the prior year, the firm posted $0.85 earnings per share. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, equities analysts expect that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

AMZN has been the subject of several research reports. Redburn Atlantic lifted their price target on shares of Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Rosenblatt Securities lifted their price objective on shares of Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a report on Friday, November 1st. HSBC lifted their price objective on shares of Amazon.com from $225.00 to $270.00 and gave the stock a “buy” rating in a report on Monday. TD Cowen lifted their price objective on shares of Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, Pivotal Research started coverage on shares of Amazon.com in a report on Friday, October 11th. They set a “buy” rating and a $260.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, forty-two have assigned 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 price target of $245.33.

Insider Buying and Selling

In related news, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $208.85, for a total value of $625,790,203.70. Following the transaction, the insider now directly owns 917,416,976 shares in the company, valued at approximately $191,602,535,437.60. This represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the transaction, the director now owns 24,912 shares in the company, valued at approximately $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,032,344 shares of company stock worth $1,253,456,822. Insiders own 10.80% of the company’s stock.

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.