Amazon.com, Inc. (NASDAQ:AMZN) is Connective Capital Management LLC’s 7th Largest Position

Connective Capital Management LLC raised its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 16.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,126 shares of the e-commerce giant’s stock after buying an additional 2,561 shares during the period. Amazon.com makes up approximately 6.3% of Connective Capital Management LLC’s holdings, making the stock its 7th largest holding. Connective Capital Management LLC’s holdings in Amazon.com were worth $3,503,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Gateway Wealth Partners LLC increased its stake in shares of Amazon.com by 13.0% during the 2nd quarter. Gateway Wealth Partners LLC now owns 19,733 shares of the e-commerce giant’s stock worth $3,813,000 after purchasing an additional 2,264 shares in the last quarter. Newport Capital Group LLC purchased a new position in shares of Amazon.com during the 2nd quarter worth approximately $411,000. Wallace Capital Management Inc. increased its stake in shares of Amazon.com by 18.3% during the 2nd quarter. Wallace Capital Management Inc. now owns 4,850 shares of the e-commerce giant’s stock worth $937,000 after purchasing an additional 750 shares in the last quarter. Kampmann Melissa S. increased its stake in shares of Amazon.com by 2.5% during the 2nd quarter. Kampmann Melissa S. now owns 21,465 shares of the e-commerce giant’s stock worth $4,148,000 after purchasing an additional 520 shares in the last quarter. Finally, Regal Investment Advisors LLC increased its stake in shares of Amazon.com by 5.7% during the 2nd quarter. Regal Investment Advisors LLC now owns 76,021 shares of the e-commerce giant’s stock worth $14,691,000 after purchasing an additional 4,092 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $215.00 price objective on shares of Amazon.com in a research note on Friday, August 2nd. JMP Securities reissued a “market outperform” rating and set a $265.00 price objective on shares of Amazon.com in a research note on Tuesday, October 15th. Jefferies Financial Group lowered their target price on shares of Amazon.com from $235.00 to $225.00 and set a “buy” rating for the company 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 note on Friday, August 2nd. Finally, Scotiabank initiated coverage on shares of Amazon.com in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $245.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.76.

Insiders Place Their Bets

In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the transaction, the chief executive officer now owns 2,056,534 shares in the company, valued at $371,759,651.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the transaction, the chief executive officer now owns 2,056,534 shares in the company, valued at $371,759,651.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now directly 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 disclosure for this sale can be found here. Insiders have sold 54,355 shares of company stock worth $9,877,423 in the last quarter. 10.80% of the stock is owned by corporate insiders.

Amazon.com Stock Performance

Shares of AMZN stock opened at $188.39 on Tuesday. Amazon.com, Inc. has a 12 month low of $128.56 and a 12 month high of $201.20. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88. The firm has a market capitalization of $1.96 trillion, a P/E ratio of 52.77, a P/E/G ratio of 1.38 and a beta of 1.14. The company’s fifty day moving average price is $183.71 and its two-hundred day moving average price is $183.54.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The firm had revenue of $147.98 billion for the quarter, compared to analyst estimates of $148.63 billion. On average, research analysts anticipate that Amazon.com, Inc. will post 4.85 earnings per share for the current fiscal 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.