Edgestream Partners L.P. Takes $4.55 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Edgestream Partners L.P. purchased a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the 3rd quarter, Holdings Channel reports. The fund purchased 24,418 shares of the e-commerce giant’s stock, valued at approximately $4,550,000.

Other hedge funds have also recently bought and sold shares of the company. Legal & General Group Plc boosted its holdings in shares of Amazon.com by 1.5% during the second quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock worth $13,466,933,000 after purchasing an additional 1,042,177 shares during the period. Bank of New York Mellon Corp lifted its position in Amazon.com by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock worth $13,091,909,000 after buying an additional 289,532 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Amazon.com by 3.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,833,954 shares of the e-commerce giant’s stock valued at $10,776,201,000 after buying an additional 1,984,592 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Amazon.com by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 57,308,094 shares of the e-commerce giant’s stock valued at $10,678,217,000 after acquiring an additional 1,980,663 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Amazon.com by 2.0% during the 3rd quarter. Fisher Asset Management LLC now owns 44,653,571 shares of the e-commerce giant’s stock valued at $8,320,300,000 after acquiring an additional 873,174 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Wedbush lifted their price objective on Amazon.com from $250.00 to $260.00 and gave the company an “outperform” rating in a research report on Monday. BMO Capital Markets restated an “outperform” rating and issued a $236.00 price objective on shares of Amazon.com in a report on Tuesday, December 3rd. Morgan Stanley lifted their target price on shares of Amazon.com from $210.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. boosted their target price on shares of Amazon.com from $250.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $197.00 price objective on shares of Amazon.com in a research note on Wednesday, November 20th. Two equities research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $243.67.

Insider Buying and Selling

In other Amazon.com news, CEO Matthew S. Garman sold 15,260 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $200.19, for a total transaction of $3,054,899.40. Following the sale, the chief executive officer now owns 349,261 shares of the company’s stock, valued at $69,918,559.59. This represents a 4.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jonathan Rubinstein sold 4,351 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the completion of the transaction, the director now directly owns 88,203 shares of the company’s stock, valued at approximately $20,273,459.55. This represents a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,032,344 shares of company stock worth $1,253,456,822 in the last three months. Insiders own 10.80% of the company’s stock.

Amazon.com Stock Up 0.0 %

Shares of NASDAQ:AMZN opened at $222.13 on Friday. The company has a market capitalization of $2.34 trillion, a PE ratio of 47.57, a P/E/G ratio of 1.54 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The company’s fifty day moving average is $215.78 and its 200-day moving average is $195.11. Amazon.com, Inc. has a 52 week low of $148.21 and a 52 week high of $233.00.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.29. The firm had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.85 earnings per share. Equities research analysts predict that Amazon.com, Inc. will post 5.29 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.