GAMMA Investing LLC Acquires 30,104,520 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

GAMMA Investing LLC boosted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 21,420.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,245,061 shares of the e-commerce giant’s stock after purchasing an additional 30,104,520 shares during the period. Amazon.com comprises 1.0% of GAMMA Investing LLC’s portfolio, making the stock its 16th biggest holding. GAMMA Investing LLC owned about 0.29% of Amazon.com worth $5,754,425,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMZN. Prudent Man Investment Management Inc. acquired a new stake in Amazon.com during the 4th quarter worth $27,000. Accordant Advisory Group Inc grew its holdings 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 worth $27,000 after acquiring an additional 100 shares during the period. LSV Asset Management acquired a new stake in Amazon.com during the 4th quarter worth $35,000. Perritt Capital Management Inc grew its holdings in Amazon.com by 72.7% during 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 during the period. Finally, Compass Planning Associates Inc acquired a new position in shares of Amazon.com in the 4th quarter valued at $51,000. Institutional investors own 72.20% of the company’s stock.

Insiders Place Their Bets

In other news, 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 completion of the sale, the vice president now owns 119,780 shares of the company’s stock, valued at approximately $24,050,626.20. This represents a 2.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $187.99, for a total transaction of $469,975.00. Following the sale, the chief executive officer now directly owns 509,474 shares of the company’s stock, valued at approximately $95,776,017.26. This trade represents a 0.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 102,037 shares of company stock worth $20,531,075 in the last quarter. Corporate insiders own 9.70% of the company’s stock.

Amazon.com Stock Up 0.3%

Shares of AMZN opened at $217.61 on Wednesday. The firm’s 50-day simple moving average is $193.04 and its 200 day simple moving average is $209.02. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52. The firm has a market cap of $2.31 trillion, a P/E ratio of 39.35, a price-to-earnings-growth ratio of 1.50 and a beta of 1.33. 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 announced its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the business posted $0.98 EPS. The business’s revenue was up 8.6% compared to the same quarter last year. On average, analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Citigroup reissued a “buy” rating on shares of Amazon.com in a report on Monday, June 2nd. Truist Financial decreased their price target on shares of Amazon.com from $265.00 to $230.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Wedbush reissued an “outperform” rating and issued a $235.00 price target (up previously from $225.00) on shares of Amazon.com in a report on Friday, May 2nd. UBS Group reissued a “buy” rating on shares of Amazon.com in a report on Tuesday, May 6th. Finally, Westpark Capital reissued a “buy” rating and issued a $280.00 price target on shares of Amazon.com in a report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, Amazon.com has a consensus rating of “Moderate Buy” and a consensus price target of $244.89.

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.