Orleans Capital Management Corp LA Increases Position in Amazon.com, Inc. (NASDAQ:AMZN)

Orleans Capital Management Corp LA lifted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 16.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 10,640 shares of the e-commerce giant’s stock after acquiring an additional 1,480 shares during the period. Amazon.com makes up 1.4% of Orleans Capital Management Corp LA’s investment portfolio, making the stock its 29th largest position. Orleans Capital Management Corp LA’s holdings in Amazon.com were worth $2,477,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Proem Advisors LLC purchased a new position in Amazon.com in the fourth quarter valued at about $17,551,000. Atlas Capital Advisors Inc. raised its holdings in shares of Amazon.com by 656.8% in the 4th quarter. Atlas Capital Advisors Inc. now owns 46,507 shares of the e-commerce giant’s stock worth $10,203,000 after purchasing an additional 40,362 shares during the period. Climber Capital SA bought a new stake in shares of Amazon.com in the 4th quarter worth approximately $233,000. Uniting Wealth Partners LLC purchased a new position in Amazon.com in the fourth quarter valued at approximately $1,858,000. Finally, Grant Private Wealth Management Inc bought a new position in Amazon.com during the fourth quarter valued at $4,619,000. 72.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AMZN shares. Loop Capital upped their price target on Amazon.com from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Piper Sandler restated an “overweight” rating and issued a $212.00 price objective (down from $215.00) on shares of Amazon.com in a research note on Friday. Morgan Stanley cut their target price on shares of Amazon.com from $280.00 to $245.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Oppenheimer lowered their price target on shares of Amazon.com from $260.00 to $220.00 and set an “outperform” rating on the stock in a research report on Monday, April 28th. Finally, Bank of America cut their price objective 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. Three research analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $243.55.

Insider Activity

In related news, CEO Douglas J. Herrington sold 5,501 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $228.44, for a total transaction of $1,256,648.44. Following the transaction, the chief executive officer now directly owns 505,318 shares in the company, valued at $115,434,843.92. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Shelley Reynolds sold 8,833 shares of Amazon.com 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 transaction, the vice president now directly owns 119,780 shares in the company, 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. Over the last three months, insiders have sold 104,798 shares of company stock valued at $23,341,803. 10.80% of the stock is currently owned by insiders.

Amazon.com Stock Down 0.1 %

Shares of AMZN opened at $189.98 on Friday. The firm has a market cap of $2.02 trillion, a P/E ratio of 34.35, a P/E/G ratio of 1.50 and a beta of 1.39. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The stock has a 50 day simple moving average of $190.48 and a two-hundred day simple moving average of $207.92. 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 (NASDAQ:AMZN) last released its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, beating the consensus estimate of $1.38 by $0.21. The company had revenue of $155.67 billion for the quarter, compared to analyst estimates of $154.96 billion. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 EPS. On average, analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share 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.