Agate Pass Investment Management LLC Boosts Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Agate Pass Investment Management LLC boosted its position in Amazon.com, Inc. (NASDAQ:AMZN) by 41.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 7,305 shares of the e-commerce giant’s stock after purchasing an additional 2,127 shares during the quarter. Agate Pass Investment Management LLC’s holdings in Amazon.com were worth $1,390,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Tallon Kerry Patrick purchased a new stake in shares of Amazon.com during the 4th quarter valued at $800,000. Capital & Planning LLC raised its position in shares of Amazon.com by 72.1% during the 4th quarter. Capital & Planning LLC now owns 3,902 shares of the e-commerce giant’s stock valued at $856,000 after buying an additional 1,635 shares in the last quarter. LaFleur & Godfrey LLC raised its position in shares of Amazon.com by 1.8% during the 4th quarter. LaFleur & Godfrey LLC now owns 49,407 shares of the e-commerce giant’s stock valued at $10,839,000 after buying an additional 860 shares in the last quarter. Independent Wealth Network Inc. raised its position in shares of Amazon.com by 11.3% during the 4th quarter. Independent Wealth Network Inc. now owns 13,465 shares of the e-commerce giant’s stock valued at $2,954,000 after buying an additional 1,364 shares in the last quarter. Finally, Wendell David Associates Inc. raised its position in shares of Amazon.com by 0.5% during the 4th quarter. Wendell David Associates Inc. now owns 41,349 shares of the e-commerce giant’s stock valued at $9,072,000 after buying an additional 215 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Trading Up 1.6%

Shares of NASDAQ AMZN opened at $216.98 on Tuesday. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The stock has a market cap of $2.30 trillion, a P/E ratio of 39.24, a price-to-earnings-growth ratio of 1.50 and a beta of 1.33. The firm has a 50-day moving average of $192.26 and a 200 day moving average of $208.96. 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 issued its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.21. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. The company had revenue of $155.67 billion during the quarter, compared to analysts’ expectations of $154.96 billion. During the same period last year, the company posted $0.98 EPS. Amazon.com’s revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Scotiabank reduced their target price on shares of Amazon.com from $306.00 to $250.00 and set a “sector outperform” rating on the stock in a report on Monday, April 21st. Raymond James reaffirmed an “outperform” rating and set a $195.00 target price (down previously from $275.00) on shares of Amazon.com in a report on Monday, April 21st. Morgan Stanley reduced their target price on shares of Amazon.com from $280.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. increased their target price on shares of Amazon.com from $225.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, June 4th. Finally, BNP Paribas raised shares of Amazon.com to a “hold” rating in a report on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $244.89.

Insiders Place Their Bets

In other Amazon.com news, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total value of $469,975.00. Following the completion of the transaction, the chief executive officer now directly owns 509,474 shares of the company’s stock, valued at approximately $95,776,017.26. The trade was a 0.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Keith Brian Alexander sold 1,000 shares of Amazon.com stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $210.68, for a total transaction of $210,680.00. Following the completion of the transaction, the director now directly owns 5,465 shares of the company’s stock, valued at $1,151,366.20. This trade represents a 15.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 102,037 shares of company stock valued at $20,531,075. Insiders own 9.70% of the company’s stock.

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.