Douglas Lane & Associates LLC Increases Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)


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Douglas Lane & Associates LLC raised its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 0.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,906 shares of the e-commerce giant’s stock after purchasing an additional 117 shares during the period. Douglas Lane & Associates LLC’s holdings in Amazon.com were worth $39,931,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Advanced Research Investment Solutions LLC purchased a new position in shares of Amazon.com during the fourth quarter valued at approximately $26,000. Resolute Partners Group purchased a new position in shares of Amazon.com during the fourth quarter valued at approximately $26,000. Cowa LLC purchased a new position in shares of Amazon.com during the fourth quarter valued at approximately $32,000. Tacita Capital Inc purchased a new position in shares of Amazon.com during the fourth quarter valued at approximately $39,000. Finally, Kinloch Capital LLC purchased a new position in shares of Amazon.com during the fourth quarter valued at approximately $42,000. 56.39% of the stock is currently owned by institutional investors.

A number of equities analysts have weighed in on the stock. Canaccord Genuity increased their price target on shares of Amazon.com from $3,800.00 to $4,100.00 and gave the stock a “buy” rating in a research note on Wednesday, February 3rd. They noted that the move was a valuation call. Guggenheim increased their price target on shares of Amazon.com from $3,600.00 to $4,000.00 and gave the stock a “buy” rating in a research note on Wednesday, February 3rd. Cowen increased their price target on shares of Amazon.com from $4,350.00 to $4,400.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 3rd. Wolfe Research initiated coverage on shares of Amazon.com in a research note on Thursday, April 1st. They set an “outperform” rating and a $3,720.00 price target on the stock. Finally, Pivotal Research increased their price objective on shares of Amazon.com from $4,500.00 to $4,650.00 and gave the stock a “buy” rating in a research report on Wednesday, February 3rd. Two analysts have rated the stock with a hold rating and forty-six have given a buy rating to the company. Amazon.com has an average rating of “Buy” and an average price target of $3,932.96.

Amazon.com stock opened at $3,362.02 on Thursday. The stock has a market cap of $1.69 trillion, a price-to-earnings ratio of 98.45, a PEG ratio of 2.37 and a beta of 1.19. The company has a current ratio of 1.11, a quick ratio of 0.88 and a debt-to-equity ratio of 0.40. The company’s 50-day moving average price is $3,160.89 and its two-hundred day moving average price is $3,192.80. Amazon.com, Inc. has a 52 week low of $2,256.38 and a 52 week high of $3,552.25.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Monday, February 1st. The e-commerce giant reported $14.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $7.05 by $7.04. The company had revenue of $125.56 billion for the quarter, compared to analysts’ expectations of $119.73 billion. Amazon.com had a net margin of 4.99% and a return on equity of 24.49%. The business’s revenue was up 43.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.47 EPS. Research analysts expect that Amazon.com, Inc. will post 34.59 earnings per share for the current fiscal year.

In other news, Director Judith A. Mcgrath sold 340 shares of Amazon.com stock in a transaction that occurred on Thursday, February 4th. The shares were sold at an average price of $3,328.35, for a total value of $1,131,639.00. Following the transaction, the director now directly owns 1,984 shares of the company’s stock, valued at $6,603,446.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David H. Clark sold 1,019 shares of Amazon.com stock in a transaction that occurred on Tuesday, February 16th. The stock was sold at an average price of $3,257.88, for a total transaction of $3,319,779.72. Following the completion of the transaction, the chief executive officer now directly owns 1,452 shares in the company, valued at $4,730,441.76. The disclosure for this sale can be found here. Insiders own 16.10% of the company’s stock.

About Amazon.com

Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It sells merchandise and content purchased for resale from third-party sellers through physical and online stores.

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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