Miracle Mile Advisors LLC Has $29.94 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Miracle Mile Advisors LLC boosted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 38.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 197,051 shares of the e-commerce giant’s stock after acquiring an additional 54,653 shares during the period. Miracle Mile Advisors LLC’s holdings in Amazon.com were worth $29,940,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AMZN. Vanguard Group Inc. increased its stake in shares of Amazon.com by 4.4% in the 3rd quarter. Vanguard Group Inc. now owns 757,951,795 shares of the e-commerce giant’s stock valued at $96,350,832,000 after purchasing an additional 32,038,029 shares during the last quarter. State Street Corp increased its stake in shares of Amazon.com by 1.0% in the 3rd quarter. State Street Corp now owns 329,849,003 shares of the e-commerce giant’s stock valued at $37,272,937,000 after purchasing an additional 3,121,516 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Amazon.com by 1,838.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock valued at $33,134,481,000 after purchasing an additional 295,880,050 shares during the last quarter. FMR LLC increased its stake in shares of Amazon.com by 7.7% in the 3rd quarter. FMR LLC now owns 302,101,441 shares of the e-commerce giant’s stock valued at $38,403,135,000 after purchasing an additional 21,649,871 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Amazon.com by 2.9% in the 2nd quarter. Geode Capital Management LLC now owns 170,151,722 shares of the e-commerce giant’s stock valued at $22,116,108,000 after purchasing an additional 4,842,542 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Insider Activity

In related news, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $184.00, for a total value of $92,000.00. Following the transaction, the chief executive officer now owns 131,600 shares in the company, valued at $24,214,400. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Andrew R. Jassy sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $168.65, for a total value of $8,432,500.00. Following the transaction, the chief executive officer now owns 2,014,055 shares in the company, valued at $339,670,375.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $184.00, for a total value of $92,000.00. Following the completion of the transaction, the chief executive officer now owns 131,600 shares in the company, valued at approximately $24,214,400. The disclosure for this sale can be found here. Insiders sold a total of 32,214,010 shares of company stock valued at $5,505,874,846 over the last three months. Corporate insiders own 12.30% of the company’s stock.

Amazon.com Stock Performance

AMZN stock opened at $186.13 on Friday. The firm has a market cap of $1.93 trillion, a PE ratio of 64.18, a P/E/G ratio of 1.65 and a beta of 1.16. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.29. The business has a 50 day moving average of $176.33 and a 200-day moving average of $155.18. Amazon.com, Inc. has a 12-month low of $98.71 and a 12-month high of $189.77.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, February 1st. The e-commerce giant reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.19. The company had revenue of $169.96 billion during the quarter, compared to analyst estimates of $165.96 billion. Amazon.com had a return on equity of 16.61% and a net margin of 5.29%. Amazon.com’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 earnings per share. As a group, sell-side analysts expect that Amazon.com, Inc. will post 4.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AMZN has been the topic of several recent analyst reports. Robert W. Baird lifted their price target on Amazon.com from $185.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Wells Fargo & Company boosted their price objective on Amazon.com from $211.00 to $217.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. JMP Securities boosted their price objective on Amazon.com from $175.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Bank of America boosted their price objective on Amazon.com from $185.00 to $204.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, Wolfe Research boosted their price objective on Amazon.com from $195.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a hold rating, forty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $201.43.

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.