Amazon.com, Inc. (NASDAQ:AMZN) Stake Raised by Avalon Global Asset Management LLC

Avalon Global Asset Management LLC lifted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.5% in the second quarter, HoldingsChannel.com reports. The firm owned 107,900 shares of the e-commerce giant’s stock after acquiring an additional 500 shares during the quarter. Amazon.com accounts for about 4.7% of Avalon Global Asset Management LLC’s investment portfolio, making the stock its 5th largest holding. Avalon Global Asset Management LLC’s holdings in Amazon.com were worth $20,852,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. PayPay Securities Corp increased its position in shares of Amazon.com by 64.6% during 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 during the last quarter. Christopher J. Hasenberg Inc increased its holdings in Amazon.com by 650.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after purchasing an additional 260 shares during the last quarter. Steph & Co. acquired a new stake in Amazon.com in the 1st quarter valued at approximately $65,000. Koesten Hirschmann & Crabtree INC. acquired a new position in Amazon.com during the first quarter worth $69,000. Finally, Innealta Capital LLC acquired a new position in Amazon.com during the second quarter worth $77,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AMZN shares. UBS Group boosted their price objective on Amazon.com from $217.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Wells Fargo & Company downgraded Amazon.com from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $225.00 to $183.00 in a research report on Monday, October 7th. Truist Financial increased their price target on shares of Amazon.com from $230.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Itau BBA Securities cut shares of Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 price objective for the company. in a report on Friday, August 2nd. Finally, The Goldman Sachs Group cut their target price on shares of Amazon.com from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $236.78.

Insider Buying and Selling at Amazon.com

In other news, CFO Brian T. Olsavsky sold 14,600 shares of the company’s stock in a transaction that occurred on 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 owns 49,000 shares in the company, valued at $8,820,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Amazon.com news, CFO Brian T. Olsavsky sold 14,600 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the transaction, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP David Zapolsky sold 2,190 shares of the firm’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 sale, the senior vice president now owns 62,420 shares of the company’s stock, valued at $12,171,900. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,355 shares of company stock worth $9,877,423. 10.80% of the stock is currently owned by insiders.

Amazon.com Stock Up 0.0 %

Shares of NASDAQ:AMZN opened at $189.07 on Tuesday. Amazon.com, Inc. has a 1-year low of $118.35 and a 1-year 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 stock has a market cap of $1.97 trillion, a P/E ratio of 52.96, a P/E/G ratio of 1.38 and a beta of 1.14. The firm has a fifty day moving average price of $182.43 and a 200 day moving average price of $183.50.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.18. The business had revenue of $147.98 billion during the quarter, compared to the consensus estimate of $148.63 billion. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. Sell-side analysts predict that Amazon.com, Inc. will post 4.85 EPS for the current year.

About Amazon.com

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.