Summit X LLC Purchases 916 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Summit X LLC grew its position in Amazon.com, Inc. (NASDAQ:AMZN) by 3.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,401 shares of the e-commerce giant’s stock after acquiring an additional 916 shares during the period. Amazon.com accounts for 1.0% of Summit X LLC’s portfolio, making the stock its 23rd largest holding. Summit X LLC’s holdings in Amazon.com were worth $4,833,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of AMZN. Castlekeep Investment Advisors LLC acquired a new stake in Amazon.com during the 4th quarter worth $25,000. Prudent Man Investment Management Inc. acquired a new stake in Amazon.com during the 4th quarter worth $27,000. LSV Asset Management acquired a new stake in Amazon.com during the 4th quarter worth $35,000. Cooksen Wealth LLC acquired a new stake in Amazon.com during the 1st quarter worth $36,000. Finally, Inlight Wealth Management LLC acquired a new stake in Amazon.com during the 1st quarter worth $40,000. Institutional investors own 72.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on AMZN. Citizens Jmp began coverage on shares of Amazon.com in a report on Thursday, July 10th. They set a “strong-buy” rating for the company. Sanford C. Bernstein set a $235.00 target price on shares of Amazon.com and gave the stock an “outperform” rating in a report on Tuesday, July 1st. Rosenblatt Securities lifted their price target on shares of Amazon.com from $288.00 to $297.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. HSBC lifted their price target on shares of Amazon.com from $240.00 to $256.00 in a research report on Tuesday, July 22nd. Finally, BNP Paribas raised shares of Amazon.com from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 27th. One investment analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Amazon.com has an average rating of “Buy” and a consensus target price of $262.45.

Amazon.com Stock Performance

NASDAQ AMZN opened at $224.66 on Thursday. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $2.40 trillion, a P/E ratio of 34.25, a P/E/G ratio of 1.49 and a beta of 1.31. Amazon.com, Inc. has a 12-month low of $161.38 and a 12-month high of $242.52. The firm has a 50-day moving average price of $220.60 and a two-hundred day moving average price of $208.72.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.37. The firm had revenue of $167.70 billion during the quarter, compared to the consensus estimate of $161.80 billion. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.26 EPS. Analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Douglas J. Herrington sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $217.00, for a total transaction of $542,500.00. Following the completion of the sale, the chief executive officer owned 512,050 shares of the company’s stock, valued at approximately $111,114,850. This represents a 0.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,643,142 shares of the company’s stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $230.43, for a total transaction of $609,059,211.06. Following the sale, the insider directly owned 883,779,901 shares of the company’s stock, valued at approximately $203,649,402,587.43. This trade represents a 0.30% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,096,253 shares of company stock valued at $5,673,745,409. 9.70% of the stock is currently owned by insiders.

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.