Amazon.com, Inc. (NASDAQ:AMZN) is Phraction Management LLC’s Largest Position

Phraction Management LLC lifted its position in Amazon.com, Inc. (NASDAQ:AMZN) by 3.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 117,588 shares of the e-commerce giant’s stock after purchasing an additional 3,405 shares during the quarter. Amazon.com comprises about 7.5% of Phraction Management LLC’s investment portfolio, making the stock its biggest position. Phraction Management LLC’s holdings in Amazon.com were worth $22,372,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AMZN. Svenska Handelsbanken AB publ bought a new position in shares of Amazon.com during the 1st quarter valued at approximately $25,183,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Amazon.com by 4.8% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 1,431,572 shares of the e-commerce giant’s stock worth $272,371,000 after buying an additional 66,050 shares during the last quarter. GCQ FUNDS MANAGEMENT PTY Ltd boosted its stake in Amazon.com by 42.8% during the first quarter. GCQ FUNDS MANAGEMENT PTY Ltd now owns 316,622 shares of the e-commerce giant’s stock worth $60,241,000 after buying an additional 94,890 shares during the period. Lansing Street Advisors increased its position in Amazon.com by 24.4% during the first quarter. Lansing Street Advisors now owns 4,220 shares of the e-commerce giant’s stock valued at $803,000 after acquiring an additional 827 shares during the last quarter. Finally, Von Berge Wealth Management Group LLC increased its position in Amazon.com by 2.2% during the first quarter. Von Berge Wealth Management Group LLC now owns 2,739 shares of the e-commerce giant’s stock valued at $511,000 after acquiring an additional 60 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jeffrey P. Bezos sold 2,643,142 shares of the stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $230.43, for a total value of $609,059,211.06. Following the completion of the sale, the insider directly owned 883,779,901 shares of the company’s stock, valued at approximately $203,649,402,587.43. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 25,102,037 shares of company stock worth $5,674,871,223. 9.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Mizuho decreased their price objective on shares of Amazon.com from $285.00 to $255.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Tigress Financial increased their price target on Amazon.com from $290.00 to $305.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. Robert W. Baird boosted their price objective on Amazon.com from $220.00 to $244.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Sanford C. Bernstein set a $235.00 price objective on Amazon.com and gave the company an “outperform” rating in a research report on Tuesday, July 1st. Finally, Evercore ISI decreased their target price on Amazon.com from $270.00 to $260.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Three analysts have rated the stock with a hold rating, forty-five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.33.

Amazon.com Trading Down 0.3%

Shares of NASDAQ:AMZN opened at $231.44 on Friday. The firm has a fifty day moving average of $215.66 and a two-hundred day moving average of $208.82. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.17. Amazon.com, Inc. has a 12-month low of $151.61 and a 12-month high of $242.52. The firm has a market capitalization of $2.46 trillion, a P/E ratio of 37.69, a price-to-earnings-growth ratio of 1.72 and a beta of 1.33.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, topping the consensus estimate of $1.38 by $0.21. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The company 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. Amazon.com’s quarterly revenue was up 8.6% on a year-over-year basis. On average, equities analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

About Amazon.com

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.