Agate Pass Investment Management LLC Purchases 2,127 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Agate Pass Investment Management LLC boosted its position in Amazon.com, Inc. (NASDAQ:AMZN) by 41.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,305 shares of the e-commerce giant’s stock after acquiring an additional 2,127 shares during the quarter. Agate Pass Investment Management LLC’s holdings in Amazon.com were worth $1,390,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in AMZN. Norges Bank acquired a new position in shares of Amazon.com during the fourth quarter worth $27,266,582,000. Capital World Investors lifted its holdings in shares of Amazon.com by 36.8% during the fourth quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant’s stock worth $14,416,078,000 after purchasing an additional 17,681,004 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Amazon.com by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock worth $180,637,081,000 after purchasing an additional 17,635,391 shares during the period. Proficio Capital Partners LLC lifted its holdings in shares of Amazon.com by 17,054.5% during the fourth quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant’s stock worth $2,652,116,000 after purchasing an additional 12,018,120 shares during the period. Finally, Capital International Investors lifted its holdings in shares of Amazon.com by 26.5% during the fourth quarter. Capital International Investors now owns 57,268,523 shares of the e-commerce giant’s stock worth $12,564,961,000 after purchasing an additional 12,000,745 shares during the period. 72.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Scotiabank dropped their target price on shares of Amazon.com from $306.00 to $250.00 and set a “sector outperform” rating on the stock in a report on Monday, April 21st. BNP Paribas upgraded shares of Amazon.com to a “hold” rating in a report on Wednesday, April 30th. Westpark Capital restated a “buy” rating and issued a $280.00 target price on shares of Amazon.com in a report on Friday, May 2nd. UBS Group restated a “buy” rating on shares of Amazon.com in a report on Tuesday, May 6th. Finally, Bank of America boosted their target price on shares of Amazon.com from $230.00 to $248.00 and gave the company a “buy” rating in a report on Monday, June 2nd. Four analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $244.89.

Amazon.com Stock Up 1.6%

Amazon.com stock opened at $216.98 on Tuesday. Amazon.com, Inc. has a twelve month low of $151.61 and a twelve month high of $242.52. The firm has a 50 day moving average price of $192.26 and a 200-day moving average price of $208.96. The company has a market capitalization of $2.30 trillion, a P/E ratio of 39.24, a P/E/G ratio of 1.50 and a beta of 1.33. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18.

Amazon.com (NASDAQ:AMZN) last released its earnings results 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 during the quarter, compared to the consensus estimate of $154.96 billion. During the same period in the prior year, the firm earned $0.98 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. As a group, equities analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current year.

Insider Activity

In related news, Director Keith Brian Alexander sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $210.68, for a total transaction of $210,680.00. Following the sale, the director now directly owns 5,465 shares in the company, valued at approximately $1,151,366.20. This represents a 15.47% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew S. Garman sold 20,923 shares of the company’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total transaction of $4,211,799.90. The disclosure for this sale can be found here. Insiders sold 102,037 shares of company stock valued at $20,531,075 in the last three months. Company insiders own 9.70% of the company’s stock.

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.