Amazon.com, Inc. (NASDAQ:AMZN) Shares Bought by Summit Asset Management LLC

Summit Asset Management LLC lifted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 19,777 shares of the e-commerce giant’s stock after buying an additional 225 shares during the quarter. Amazon.com makes up approximately 0.7% of Summit Asset Management LLC’s investment portfolio, making the stock its 24th largest position. Summit Asset Management LLC’s holdings in Amazon.com were worth $3,685,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. PayPay Securities Corp boosted its holdings in shares of Amazon.com by 64.6% in the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after acquiring an additional 64 shares in the last quarter. Hoese & Co LLP purchased a new position in Amazon.com during the third quarter worth about $37,000. Bull Oak Capital LLC acquired a new stake in Amazon.com in the third quarter valued at about $45,000. Values First Advisors Inc. purchased a new stake in Amazon.com in the 3rd quarter valued at approximately $56,000. Finally, Christopher J. Hasenberg Inc increased its position 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 purchasing an additional 260 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AMZN. Monness Crespi & Hardt raised their price target on Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 1st. JMP Securities reissued a “market outperform” rating and issued a $285.00 target price on shares of Amazon.com in a report on Monday, December 16th. Pivotal Research assumed coverage on shares of Amazon.com in a research note on Friday, October 11th. They set a “buy” rating and a $260.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $250.00 price target on shares of Amazon.com in a report on Tuesday, December 10th. Finally, Jefferies Financial Group boosted their price objective on shares of Amazon.com from $235.00 to $275.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Two analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.00.

Amazon.com Stock Up 1.8 %

Shares of AMZN opened at $229.05 on Wednesday. Amazon.com, Inc. has a fifty-two week low of $144.05 and a fifty-two week high of $233.00. The company’s fifty day moving average is $206.58 and its two-hundred day moving average is $191.74. The firm has a market cap of $2.41 trillion, a PE ratio of 49.05, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The firm had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.85 earnings per share. Analysts forecast that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Insider Transactions at Amazon.com

In other Amazon.com news, CEO Matthew S. Garman sold 15,260 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $200.19, for a total value of $3,054,899.40. Following the transaction, the chief executive officer now directly owns 349,261 shares of the company’s stock, valued at $69,918,559.59. This trade represents a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jonathan Rubinstein sold 5,004 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $199.85, for a total value of $1,000,049.40. Following the completion of the sale, the director now directly owns 99,396 shares of the company’s stock, valued at $19,864,290.60. The trade was a 4.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,032,344 shares of company stock worth $1,253,456,822. 10.80% of the stock is currently owned by company insiders.

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.