Ewing Morris & Co. Investment Partners Ltd. Buys New Position in Amazon.com, Inc. (NASDAQ:AMZN)

Ewing Morris & Co. Investment Partners Ltd. bought a new position in Amazon.com, Inc. (NASDAQ:AMZN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 15,087 shares of the e-commerce giant’s stock, valued at approximately $3,310,000. Amazon.com makes up approximately 1.3% of Ewing Morris & Co. Investment Partners Ltd.’s investment portfolio, making the stock its 21st biggest position.

A number of other hedge funds have also added to or reduced their stakes in AMZN. Prudent Man Investment Management Inc. purchased a new position in shares of Amazon.com during the fourth quarter valued at approximately $27,000. Accordant Advisory Group Inc lifted its stake in Amazon.com by 400.0% during the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock valued at $27,000 after acquiring an additional 100 shares in the last quarter. LSV Asset Management purchased a new position in Amazon.com during the 4th quarter worth $35,000. Perritt Capital Management Inc grew its stake in shares of Amazon.com by 72.7% in the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock worth $42,000 after acquiring an additional 80 shares in the last quarter. Finally, Compass Planning Associates Inc purchased a new stake in shares of Amazon.com in the fourth quarter valued at about $51,000. 72.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on AMZN shares. Truist Financial decreased their price target on Amazon.com from $265.00 to $230.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. JMP Securities reiterated a “market outperform” rating on shares of Amazon.com in a research note on Tuesday, May 6th. Citizens Jmp reduced their price target on shares of Amazon.com from $285.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Stifel Nicolaus decreased their price objective on shares of Amazon.com from $248.00 to $245.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Finally, Cantor Fitzgerald boosted their target price on shares of Amazon.com from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the stock. According to data from MarketBeat.com, Amazon.com has a consensus rating of “Moderate Buy” and an average price target of $244.09.

Amazon.com Trading Down 1.0%

NASDAQ AMZN opened at $200.99 on Monday. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $242.52. The firm has a market cap of $2.13 trillion, a PE ratio of 36.35, a P/E/G ratio of 1.50 and a beta of 1.30. The firm’s fifty day moving average is $190.05 and its two-hundred day moving average is $208.80. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.21. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. The firm had revenue of $155.67 billion for the quarter, compared to analyst estimates of $154.96 billion. During the same period last year, the firm posted $0.98 EPS. Amazon.com’s quarterly revenue was up 8.6% on a year-over-year basis. Analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Activity

In related news, CEO Matthew S. Garman sold 20,923 shares of Amazon.com stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $201.30, for a total transaction of $4,211,799.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Shelley Reynolds sold 2,695 shares of the company’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $200.79, for a total transaction of $541,129.05. Following the transaction, the vice president now directly owns 119,780 shares in the company, valued at $24,050,626.20. The trade was a 2.20% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 99,537 shares of company stock worth $20,018,625. Company insiders own 9.70% of the company’s stock.

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.