Tortoise Investment Management LLC Increases Position in Amazon.com, Inc. (NASDAQ:AMZN)

Tortoise Investment Management LLC grew its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 2,122.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,400 shares of the e-commerce giant’s stock after acquiring an additional 4,202 shares during the quarter. Tortoise Investment Management LLC’s holdings in Amazon.com were worth $467,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sage Financial Management Group Inc. lifted its holdings in shares of Amazon.com by 6.5% in the 1st quarter. Sage Financial Management Group Inc. now owns 66 shares of the e-commerce giant’s stock valued at $215,000 after buying an additional 4 shares during the period. BlackDiamond Wealth Management Inc. lifted its holdings in shares of Amazon.com by 1.9% in the 1st quarter. BlackDiamond Wealth Management Inc. now owns 217 shares of the e-commerce giant’s stock valued at $707,000 after buying an additional 4 shares during the period. BCGM Wealth Management LLC lifted its holdings in shares of Amazon.com by 3.0% in the 1st quarter. BCGM Wealth Management LLC now owns 172 shares of the e-commerce giant’s stock valued at $428,000 after buying an additional 5 shares during the period. Aspire Wealth Management Corp lifted its holdings in shares of Amazon.com by 2.4% in the 1st quarter. Aspire Wealth Management Corp now owns 216 shares of the e-commerce giant’s stock valued at $704,000 after buying an additional 5 shares during the period. Finally, Lakeside Advisors INC. lifted its holdings in shares of Amazon.com by 7.5% in the 1st quarter. Lakeside Advisors INC. now owns 72 shares of the e-commerce giant’s stock valued at $235,000 after buying an additional 5 shares during the period. 57.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Adam Selipsky sold 345 shares of the stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $102.00, for a total value of $35,190.00. Following the sale, the chief executive officer now directly owns 112,795 shares in the company, valued at $11,505,090. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Amazon.com news, major shareholder Amazon Com Inc sold 250,000 shares of the firm’s stock in a transaction on Friday, October 7th. The stock was sold at an average price of $23.61, for a total value of $5,902,500.00. Following the sale, the insider now directly owns 14,178,445 shares in the company, valued at $334,753,086.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Adam Selipsky sold 345 shares of the firm’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $102.00, for a total value of $35,190.00. Following the completion of the sale, the chief executive officer now owns 112,795 shares in the company, valued at $11,505,090. The disclosure for this sale can be found here. Over the last three months, insiders have sold 269,412 shares of company stock worth $7,914,139. Corporate insiders own 12.70% of the company’s stock.

Amazon.com Stock Up 0.8 %

Shares of NASDAQ AMZN opened at $93.20 on Wednesday. The stock has a market cap of $950.79 billion, a P/E ratio of 85.54, a PEG ratio of 6.29 and a beta of 1.23. The company has a current ratio of 0.94, a quick ratio of 0.68 and a debt-to-equity ratio of 0.43. Amazon.com, Inc. has a 12-month low of $85.87 and a 12-month high of $181.68. The business’s fifty day simple moving average is $109.13 and its 200-day simple moving average is $116.76.

Amazon.com (NASDAQ:AMZNGet Rating) last announced its quarterly earnings data on Thursday, October 27th. The e-commerce giant reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.06. The business had revenue of $127.10 billion for the quarter, compared to analysts’ expectations of $127.47 billion. Amazon.com had a return on equity of 14.44% and a net margin of 2.25%. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period last year, the firm earned $0.31 earnings per share. As a group, equities analysts predict that Amazon.com, Inc. will post 0.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on AMZN shares. Erste Group Bank cut Amazon.com from a “buy” rating to a “hold” rating in a report on Friday, November 18th. DA Davidson reduced their price target on Amazon.com from $151.00 to $114.00 and set a “buy” rating for the company in a report on Friday, October 28th. UBS Group upped their price target on Amazon.com from $167.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Tigress Financial reduced their price target on Amazon.com from $232.00 to $192.00 and set a “buy” rating for the company in a report on Wednesday, November 2nd. Finally, Raymond James reduced their price target on Amazon.com from $164.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, October 28th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $150.77.

Amazon.com Company Profile

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Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It sells merchandise and content purchased for resale from third-party sellers through physical and online stores.

Further Reading

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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