Amazon.com, Inc. (NASDAQ:AMZN) is Spouting Rock Asset Management LLC’s 3rd Largest Position

Spouting Rock Asset Management LLC increased its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 235.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 147,525 shares of the e-commerce giant’s stock after buying an additional 103,509 shares during the period. Amazon.com comprises 5.4% of Spouting Rock Asset Management LLC’s portfolio, making the stock its 3rd largest holding. Spouting Rock Asset Management LLC’s holdings in Amazon.com were worth $15,238,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp raised its stake in shares of Amazon.com by 1,869.1% during the 2nd quarter. State Street Corp now owns 326,727,487 shares of the e-commerce giant’s stock worth $34,701,726,000 after buying an additional 310,134,486 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Amazon.com by 1,838.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock worth $33,134,481,000 after acquiring an additional 295,880,050 shares during the last quarter. FMR LLC lifted its holdings in shares of Amazon.com by 1,792.4% in the second quarter. FMR LLC now owns 286,047,356 shares of the e-commerce giant’s stock valued at $30,381,089,000 after purchasing an additional 270,931,640 shares in the last quarter. Moneta Group Investment Advisors LLC grew its position in shares of Amazon.com by 120,235.9% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 116,480,298 shares of the e-commerce giant’s stock valued at $9,784,345,000 after purchasing an additional 116,383,502 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Amazon.com during the 4th quarter worth approximately $8,263,591,000. 57.96% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Stock Down 0.6 %

Shares of Amazon.com stock opened at $137.27 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.95 and a quick ratio of 0.70. Amazon.com, Inc. has a 1-year low of $81.43 and a 1-year high of $143.63. The business has a 50-day moving average of $133.28 and a 200-day moving average of $116.83. The company has a market capitalization of $1.42 trillion, a PE ratio of 108.09, a P/E/G ratio of 1.83 and a beta of 1.24.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, August 3rd. The e-commerce giant reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.29. Amazon.com had a return on equity of 9.14% and a net margin of 2.43%. The firm had revenue of $134.38 billion during the quarter, compared to analyst estimates of $131.54 billion. As a group, equities analysts forecast that Amazon.com, Inc. will post 2.23 EPS for the current fiscal year.

Insider Buying and Selling

In other Amazon.com news, CEO Adam Selipsky sold 500 shares of the stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $125.07, for a total transaction of $62,535.00. Following the transaction, the chief executive officer now directly owns 151,780 shares in the company, valued at approximately $18,983,124.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Amazon.com news, CEO Adam Selipsky sold 500 shares of the stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $125.07, for a total transaction of $62,535.00. Following the transaction, the chief executive officer now owns 151,780 shares of the company’s stock, valued at approximately $18,983,124.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Shelley Reynolds sold 3,100 shares of Amazon.com stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $133.87, for a total value of $414,997.00. Following the completion of the transaction, the vice president now owns 119,780 shares of the company’s stock, valued at approximately $16,034,948.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,361,829 shares of company stock worth $48,444,937. Insiders own 12.70% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on AMZN. Jefferies Financial Group increased their target price on Amazon.com from $135.00 to $150.00 in a report on Wednesday, June 21st. Barclays lifted their price objective on Amazon.com from $140.00 to $180.00 and gave the stock an “overweight” rating in a research report on Monday, August 7th. Sanford C. Bernstein upped their target price on shares of Amazon.com from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 19th. Piper Jaffray Companies lifted their price target on shares of Amazon.com from $130.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, June 7th. Finally, Piper Sandler upped their price objective on shares of Amazon.com from $175.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, August 24th. Two equities research analysts have rated the stock with a hold rating and forty-eight have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $160.87.

Amazon.com Company Profile

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