GPM Growth Investors Inc. Invests $10.27 Million in Amazon.com, Inc. (NASDAQ:AMZN)

GPM Growth Investors Inc. purchased a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the 2nd quarter, Holdings Channel reports. The firm purchased 53,139 shares of the e-commerce giant’s stock, valued at approximately $10,269,000. Amazon.com accounts for about 4.4% of GPM Growth Investors Inc.’s investment portfolio, making the stock its 6th biggest holding.

Other large investors also recently bought and sold shares of the company. Belpointe Asset Management LLC grew its position in Amazon.com by 8.2% during the second quarter. Belpointe Asset Management LLC now owns 127,119 shares of the e-commerce giant’s stock valued at $24,566,000 after acquiring an additional 9,663 shares during the period. Consolidated Planning Corp grew its holdings in shares of Amazon.com by 4.8% during the 2nd quarter. Consolidated Planning Corp now owns 37,603 shares of the e-commerce giant’s stock worth $7,267,000 after purchasing an additional 1,725 shares during the period. Index Fund Advisors Inc. raised its holdings in Amazon.com by 4.3% in the second quarter. Index Fund Advisors Inc. now owns 14,833 shares of the e-commerce giant’s stock valued at $2,866,000 after buying an additional 613 shares during the period. Larson Financial Group LLC raised its holdings in Amazon.com by 28.2% in the second quarter. Larson Financial Group LLC now owns 74,608 shares of the e-commerce giant’s stock valued at $14,418,000 after buying an additional 16,390 shares during the period. Finally, Hodges Capital Management Inc. grew its stake in Amazon.com by 8.7% during the second quarter. Hodges Capital Management Inc. now owns 60,281 shares of the e-commerce giant’s stock worth $11,649,000 after buying an additional 4,827 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Activity at Amazon.com

In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the transaction, the senior vice president now owns 62,420 shares in the company, valued at approximately $12,171,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the sale, the senior vice president now directly owns 62,420 shares in the company, valued at $12,171,900. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Brian T. Olsavsky sold 14,600 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the completion of the sale, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. The disclosure for this sale can be found here. Insiders have sold a total of 1,549,744 shares of company stock worth $309,400,324 in the last three months. 10.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AMZN shares. Itau BBA Securities downgraded shares of Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 target price on the stock. in a research note on Friday, August 2nd. JMP Securities increased their price target on Amazon.com from $245.00 to $265.00 and gave the company a “market outperform” rating in a report on Tuesday, September 3rd. UBS Group boosted their price objective on Amazon.com from $217.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. BMO Capital Markets reiterated an “outperform” rating and set a $230.00 target price on shares of Amazon.com in a report on Thursday, September 19th. Finally, Sanford C. Bernstein upped their price target on Amazon.com from $210.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. One equities research analyst has rated the stock with a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $223.65.

Amazon.com Stock Performance

Shares of AMZN opened at $181.96 on Friday. The firm has a fifty day moving average of $179.09 and a 200-day moving average of $182.82. The company has a market cap of $1.89 trillion, a price-to-earnings ratio of 50.97, a price-to-earnings-growth ratio of 1.46 and a beta of 1.14. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. Amazon.com, Inc. has a 1 year low of $118.35 and a 1 year high of $201.20.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The firm 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%. As a group, equities analysts anticipate that Amazon.com, Inc. will post 4.86 earnings per share for the current year.

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.