Amazon.com, Inc. (NASDAQ:AMZN) Position Raised by Kennedy Investment Group

Kennedy Investment Group lifted its position in Amazon.com, Inc. (NASDAQ:AMZN) by 0.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,734 shares of the e-commerce giant’s stock after buying an additional 473 shares during the quarter. Amazon.com makes up approximately 5.7% of Kennedy Investment Group’s portfolio, making the stock its 3rd biggest holding. Kennedy Investment Group’s holdings in Amazon.com were worth $12,316,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMZN. Momentous Wealth Management Inc. purchased a new position in shares of Amazon.com in the fourth quarter worth $749,000. Segall Bryant & Hamill LLC boosted its holdings in Amazon.com by 14.3% in the fourth quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant’s stock valued at $69,572,000 after acquiring an additional 39,696 shares in the last quarter. Bearing Point Capital LLC bought a new stake in Amazon.com in the fourth quarter valued at $12,014,000. Evergreen Capital Management LLC boosted its holdings in Amazon.com by 0.5% in the fourth quarter. Evergreen Capital Management LLC now owns 242,550 shares of the e-commerce giant’s stock valued at $53,213,000 after acquiring an additional 1,198 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Amazon.com by 173.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,461,573 shares of the e-commerce giant’s stock valued at $759,434,000 after buying an additional 2,196,353 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AMZN. JPMorgan Chase & Co. raised their price target on shares of Amazon.com from $240.00 to $255.00 and gave the company an “overweight” rating in a report on Friday. BNP Paribas Exane upgraded shares of Amazon.com from a “neutral” rating to an “outperform” rating and set a $254.00 target price on the stock in a research note on Friday, June 27th. Sanford C. Bernstein set a $235.00 target price on shares of Amazon.com and gave the stock an “outperform” rating in a research note on Tuesday, July 1st. Jefferies Financial Group reduced their price objective on shares of Amazon.com from $250.00 to $240.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Finally, DA Davidson reduced their price target on shares of Amazon.com from $280.00 to $230.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating, forty-five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $249.42.

Amazon.com Stock Performance

Shares of AMZN stock opened at $225.02 on Friday. The firm’s 50 day moving average price is $209.90 and its 200-day moving average price is $208.49. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.05. 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 $2.39 trillion, a P/E ratio of 36.65, a P/E/G ratio of 1.69 and a beta of 1.33.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.21. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The firm had revenue of $155.67 billion for the quarter, compared to the consensus estimate of $154.96 billion. During the same period last year, the firm posted $0.98 EPS. The company’s revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current year.

Insider Activity at Amazon.com

In related news, SVP David Zapolsky sold 13,570 shares of the company’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $202.41, for a total value of $2,746,703.70. Following the sale, the senior vice president directly owned 47,030 shares of the company’s stock, valued at $9,519,342.30. This represents a 22.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Matthew S. Garman sold 20,923 shares of the stock in a transaction on Wednesday, May 21st. The stock was 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 have sold a total of 6,886,613 shares of company stock valued at $1,531,840,610 in the last quarter. 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.