Pegasus Asset Management Inc. Has $7.07 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Pegasus Asset Management Inc. grew its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 1.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 36,589 shares of the e-commerce giant’s stock after buying an additional 619 shares during the period. Amazon.com makes up 2.7% of Pegasus Asset Management Inc.’s investment portfolio, making the stock its 11th biggest position. Pegasus Asset Management Inc.’s holdings in Amazon.com were worth $7,071,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AMZN. Cooksen Wealth LLC bought a new position in shares of Amazon.com during the 4th quarter worth about $30,000. Christopher J. Hasenberg Inc raised its stake 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. Clarity Asset Management Inc. acquired a new stake in Amazon.com in the fourth quarter valued at approximately $46,000. Steph & Co. bought a new stake in shares of Amazon.com during the first quarter valued at approximately $65,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in shares of Amazon.com during the first quarter worth approximately $69,000. 72.20% of the stock is currently owned by institutional investors.

Insider Transactions at Amazon.com

In related news, insider Jeffrey P. Bezos sold 3,085,116 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 931,925,277 shares in the company, valued at $186,450,290,169.39. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Amazon.com news, insider Jeffrey P. Bezos sold 3,085,116 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $200.07, for a total transaction of $617,239,158.12. Following the transaction, the insider now owns 931,925,277 shares in the company, valued at $186,450,290,169.39. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the sale, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. The disclosure for this sale can be found here. Insiders have sold 6,104,317 shares of company stock worth $1,220,621,322 over the last quarter. 10.80% of the stock is currently owned by insiders.

Amazon.com Stock Up 1.1 %

AMZN opened at $186.88 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88. Amazon.com, Inc. has a 12 month low of $118.35 and a 12 month high of $201.20. The stock has a market capitalization of $1.94 trillion, a P/E ratio of 52.35, a P/E/G ratio of 1.39 and a beta of 1.14. The business has a 50 day simple moving average of $178.97 and a 200-day simple moving average of $181.80.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates 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, equities analysts anticipate that Amazon.com, Inc. will post 4.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AMZN. TD Cowen raised their target price on Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Robert W. Baird boosted their price target on shares of Amazon.com from $210.00 to $213.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. Barclays increased their price objective on shares of Amazon.com from $220.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Maxim Group lifted their target price on shares of Amazon.com from $238.00 to $251.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group reduced 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. One research analyst has rated the stock with a hold rating, forty have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $222.49.

Amazon.com 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.