Douglas Lane & Associates LLC Has $48.83 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Douglas Lane & Associates LLC boosted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 256,649 shares of the e-commerce giant’s stock after buying an additional 7,374 shares during the period. Douglas Lane & Associates LLC’s holdings in Amazon.com were worth $48,830,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position 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 valued at $180,637,081,000 after buying an additional 17,635,391 shares during the last quarter. FMR LLC boosted its holdings in Amazon.com by 0.5% during the 4th quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant’s stock worth $72,061,766,000 after acquiring an additional 1,725,664 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Amazon.com by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant’s stock worth $44,837,256,000 after acquiring an additional 5,015,380 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Amazon.com by 2.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 182,813,905 shares of the e-commerce giant’s stock worth $40,107,544,000 after acquiring an additional 4,087,933 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Amazon.com in the fourth quarter valued at about $27,266,582,000. 72.20% of the stock is owned by institutional investors.

Amazon.com Price Performance

NASDAQ:AMZN opened at $213.24 on Friday. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52. The stock has a fifty day moving average of $194.64 and a 200 day moving average of $209.13. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06. The firm has a market capitalization of $2.26 trillion, a price-to-earnings ratio of 38.56, a P/E/G ratio of 1.50 and a beta of 1.33.

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AMZN shares. Citizens Jmp cut their price target on shares of Amazon.com from $285.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Canaccord Genuity Group reaffirmed a “buy” rating on shares of Amazon.com in a report on Thursday, February 13th. Cantor Fitzgerald increased their price target on Amazon.com from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. The Goldman Sachs Group cut their price objective on Amazon.com from $255.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Finally, Citigroup restated a “buy” rating on shares of Amazon.com in a research note 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. According to MarketBeat.com, Amazon.com presently has a consensus rating of “Moderate Buy” and an average price target of $244.89.

Insider Activity at Amazon.com

In related news, VP Shelley Reynolds sold 2,695 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $200.79, for a total value of $541,129.05. Following the transaction, the vice president now owns 119,780 shares of the company’s stock, valued at $24,050,626.20. This represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas J. Herrington sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total value of $469,975.00. Following the sale, the chief executive officer now owns 509,474 shares in the company, valued at $95,776,017.26. The trade was a 0.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 102,037 shares of company stock valued at $20,531,075 over the last three months. 9.70% of the stock is owned by corporate insiders.

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.