2,489 Shares in Amazon.com, Inc. (NASDAQ:AMZN) Acquired by Riggs Capital Management LLC

Riggs Capital Management LLC purchased a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the 4th quarter, Holdings Channel reports. The firm purchased 2,489 shares of the e-commerce giant’s stock, valued at approximately $546,000.

Several other large investors also recently made changes to their positions in the business. Seven Mile Advisory increased its position in shares of Amazon.com by 19.4% in the fourth quarter. Seven Mile Advisory now owns 32,331 shares of the e-commerce giant’s stock worth $7,093,000 after acquiring an additional 5,262 shares in the last quarter. Summit Financial LLC increased its position in shares of Amazon.com by 2.4% in the fourth quarter. Summit Financial LLC now owns 223,937 shares of the e-commerce giant’s stock worth $49,129,000 after acquiring an additional 5,245 shares in the last quarter. Prudent Man Investment Management Inc. acquired a new stake in shares of Amazon.com in the fourth quarter worth $27,000. Bedell Frazier Investment Counselling LLC increased its position in shares of Amazon.com by 33.1% in the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 112,202 shares of the e-commerce giant’s stock worth $24,616,000 after acquiring an additional 27,922 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its position in shares of Amazon.com by 2.3% in the fourth quarter. Meeder Asset Management Inc. now owns 386,896 shares of the e-commerce giant’s stock worth $84,881,000 after acquiring an additional 8,706 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insiders Place Their Bets

In other Amazon.com news, CEO Douglas J. Herrington sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $187.99, for a total value of $469,975.00. Following the completion of the sale, the chief executive officer now directly owns 509,474 shares in the company, valued at $95,776,017.26. This represents a 0.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Shelley Reynolds sold 8,833 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $222.47, for a total value of $1,965,077.51. Following the completion of the sale, the vice president now owns 119,780 shares of the company’s stock, valued at $26,647,456.60. This trade represents a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,798 shares of company stock worth $23,341,803 over the last ninety days. Company insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AMZN shares. Bank of America lowered their price target on shares of Amazon.com from $257.00 to $225.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. JMP Securities lowered their price target on shares of Amazon.com from $285.00 to $240.00 and set a “market outperform” rating for the company in a report on Monday, April 14th. Piper Sandler reaffirmed an “overweight” rating and set a $265.00 price target (up from $225.00) on shares of Amazon.com in a report on Friday, February 7th. UBS Group reduced their price objective on shares of Amazon.com from $272.00 to $253.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Wedbush reiterated an “outperform” rating and set a $280.00 price objective on shares of Amazon.com in a research note on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and forty-five have issued a buy rating to the company. According to data from MarketBeat.com, Amazon.com presently has an average rating of “Moderate Buy” and an average price target of $246.50.

Amazon.com Stock Performance

AMZN opened at $184.42 on Thursday. The company has a market capitalization of $1.96 trillion, a price-to-earnings ratio of 33.35, a price-to-earnings-growth ratio of 1.50 and a beta of 1.39. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52. The business has a 50 day moving average price of $191.39 and a two-hundred day moving average price of $207.74.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. Research analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

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.