Migdal Insurance & Financial Holdings Ltd. Buys 221,000 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 20.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,300,900 shares of the e-commerce giant’s stock after acquiring an additional 221,000 shares during the period. Amazon.com accounts for approximately 3.5% of Migdal Insurance & Financial Holdings Ltd.’s portfolio, making the stock its 6th biggest holding. Migdal Insurance & Financial Holdings Ltd.’s holdings in Amazon.com were worth $247,509,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Prudent Man Investment Management Inc. acquired a new stake in Amazon.com in the 4th quarter worth about $27,000. LSV Asset Management acquired a new position in shares of Amazon.com in the 4th quarter valued at about $35,000. Perritt Capital Management Inc lifted its stake in shares of Amazon.com by 72.7% in the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock valued at $42,000 after purchasing an additional 80 shares in the last quarter. Cooksen Wealth LLC acquired a new position in shares of Amazon.com in the 1st quarter valued at about $36,000. Finally, Inlight Wealth Management LLC acquired a new position in shares of Amazon.com in the 1st quarter valued at about $40,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Amazon.com

In other news, insider Jeffrey P. Bezos sold 2,643,142 shares of the company’s stock in a transaction 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 completion of the sale, the insider directly owned 883,779,901 shares of the company’s stock, valued at $203,649,402,587.43. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Douglas J. Herrington sold 2,500 shares of the company’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $217.00, for a total value of $542,500.00. Following the sale, the chief executive officer directly owned 512,050 shares of the company’s stock, valued at approximately $111,114,850. This represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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 company insiders.

Analyst Upgrades and Downgrades

AMZN has been the topic of several research analyst reports. Tigress Financial lifted their price objective on Amazon.com from $290.00 to $305.00 and gave the company a “buy” rating in a research note on Tuesday, May 6th. Monness Crespi & Hardt lifted their price objective on Amazon.com from $265.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on Amazon.com from $230.00 to $266.00 in a research note on Tuesday, July 22nd. Cowen reaffirmed a “buy” rating on shares of Amazon.com in a research note on Friday, August 1st. Finally, DA Davidson lifted their price objective on Amazon.com from $230.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, August 1st. One research analyst has rated the stock with a hold rating, forty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $262.87.

Amazon.com Trading Up 0.0%

Shares of Amazon.com stock opened at $231.03 on Friday. 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 firm has a market cap of $2.46 trillion, a price-to-earnings ratio of 35.22, a price-to-earnings-growth ratio of 1.56 and a beta of 1.31. The business has a fifty day simple moving average of $221.41 and a 200-day simple moving average of $208.64. Amazon.com, Inc. has a fifty-two week low of $161.38 and a fifty-two week high of $242.52.

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

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.