Summit Financial LLC increased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 30.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 214,957 shares of the e-commerce giant’s stock after buying an additional 50,014 shares during the period. Amazon.com makes up 1.9% of Summit Financial LLC’s holdings, making the stock its 8th biggest holding. Summit Financial LLC’s holdings in Amazon.com were worth $41,540,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Berry Wealth Group LP increased its holdings in Amazon.com by 1.4% in the second quarter. Berry Wealth Group LP now owns 6,163 shares of the e-commerce giant’s stock worth $1,191,000 after purchasing an additional 88 shares in the last quarter. Gouws Capital LLC grew its position in shares of Amazon.com by 1.4% during the 2nd quarter. Gouws Capital LLC now owns 40,241 shares of the e-commerce giant’s stock worth $7,777,000 after buying an additional 570 shares during the period. Interchange Capital Partners LLC increased its stake in shares of Amazon.com by 86.1% in the 2nd quarter. Interchange Capital Partners LLC now owns 24,050 shares of the e-commerce giant’s stock valued at $4,648,000 after acquiring an additional 11,124 shares in the last quarter. Avaii Wealth Management LLC lifted its position in shares of Amazon.com by 19.8% during the 2nd quarter. Avaii Wealth Management LLC now owns 30,497 shares of the e-commerce giant’s stock valued at $5,893,000 after acquiring an additional 5,043 shares during the period. Finally, Mill Capital Management LLC boosted its stake in Amazon.com by 0.7% during the second quarter. Mill Capital Management LLC now owns 197,730 shares of the e-commerce giant’s stock worth $38,211,000 after acquiring an additional 1,355 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.
Insiders Place Their Bets
In other Amazon.com news, insider Jeffrey P. Bezos sold 3,085,116 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $200.07, for a total transaction of $617,239,158.12. Following the transaction, the insider now directly owns 931,925,277 shares of the company’s stock, valued at approximately $186,450,290,169.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Amazon.com 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 completion of the sale, the insider now directly owns 931,925,277 shares in the company, valued at $186,450,290,169.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $195.99, for a total value of $685,965.00. Following the transaction, the chief executive officer now owns 519,753 shares in the company, valued at approximately $101,866,390.47. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,101,797 shares of company stock worth $1,220,129,922. 10.80% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
View Our Latest Research Report on Amazon.com
Amazon.com Trading Down 1.7 %
NASDAQ:AMZN opened at $187.97 on Friday. The firm has a market capitalization of $1.97 trillion, a P/E ratio of 52.65, a P/E/G ratio of 1.46 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The company has a fifty day moving average of $178.92 and a 200 day moving average of $182.64. Amazon.com, Inc. has a 52 week low of $118.35 and a 52 week high of $201.20.
Amazon.com (NASDAQ:AMZN – Get Free Report) last posted its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. The company had revenue of $147.98 billion during 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%. On average, research analysts predict that Amazon.com, Inc. will post 4.86 earnings per share for the current year.
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.
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