Westchester Capital Management Inc. Purchases 1,034 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Westchester Capital Management Inc. boosted its position in Amazon.com, Inc. (NASDAQ:AMZN) by 2.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,841 shares of the e-commerce giant’s stock after buying an additional 1,034 shares during the quarter. Amazon.com makes up about 2.1% of Westchester Capital Management Inc.’s holdings, making the stock its 20th biggest position. Westchester Capital Management Inc.’s holdings in Amazon.com were worth $8,302,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AMZN. Truvestments Capital LLC lifted its holdings in shares of Amazon.com by 7.9% during the fourth quarter. Truvestments Capital LLC now owns 8,023 shares of the e-commerce giant’s stock worth $1,760,000 after buying an additional 588 shares during the last quarter. Austin Wealth Management LLC increased its position in Amazon.com by 5.5% during the fourth quarter. Austin Wealth Management LLC now owns 12,405 shares of the e-commerce giant’s stock worth $2,803,000 after acquiring an additional 647 shares during the period. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co acquired a new position in Amazon.com during the 4th quarter valued at $2,844,000. Hopwood Financial Services Inc. bought a new stake in Amazon.com in the 4th quarter valued at $500,000. Finally, Farther Finance Advisors LLC grew its position in Amazon.com by 1.6% in the 4th quarter. Farther Finance Advisors LLC now owns 152,562 shares of the e-commerce giant’s stock worth $33,471,000 after purchasing an additional 2,473 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Sanford C. Bernstein increased their target price on shares of Amazon.com from $235.00 to $265.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. DA Davidson raised their price objective on Amazon.com from $235.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Canaccord Genuity Group restated a “buy” rating on shares of Amazon.com in a research report on Thursday, February 13th. Wedbush reaffirmed an “outperform” rating and issued a $280.00 target price on shares of Amazon.com in a research report on Friday, February 7th. Finally, Piper Sandler reissued an “overweight” rating and issued a $265.00 price target (up previously from $225.00) on shares of Amazon.com in a report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating, forty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amazon.com currently has an average rating of “Moderate Buy” and an average price target of $258.19.

Insider Activity at Amazon.com

In related news, CFO Brian T. Olsavsky sold 14,620 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $223.14, for a total transaction of $3,262,306.80. Following the completion of the transaction, the chief financial officer now owns 49,000 shares in the company, valued at approximately $10,933,860. The trade was a 22.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas J. Herrington sold 27,500 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total transaction of $6,332,425.00. Following the completion of the sale, the chief executive officer now owns 497,067 shares in the company, valued at approximately $114,459,618.09. This trade represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 104,798 shares of company stock worth $23,341,803. 10.80% of the stock is owned by insiders.

Amazon.com Stock Up 2.0 %

Shares of NASDAQ:AMZN opened at $184.87 on Monday. The company has a 50 day moving average of $204.23 and a 200-day moving average of $208.54. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $242.52. The stock has a market cap of $1.96 trillion, a price-to-earnings ratio of 33.43, a P/E/G ratio of 1.50 and a beta of 1.39. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. On average, sell-side analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Amazon.com Company 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.