Contravisory Investment Management Inc. raised its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 0.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 46,305 shares of the e-commerce giant’s stock after buying an additional 119 shares during the quarter. Amazon.com makes up about 1.9% of Contravisory Investment Management Inc.’s investment portfolio, making the stock its 20th largest holding. Contravisory Investment Management Inc.’s holdings in Amazon.com were worth $8,810,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC acquired a new position in shares of Amazon.com during the fourth quarter valued at $25,000. Accordant Advisory Group Inc increased its holdings in shares of Amazon.com by 400.0% during the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock valued at $27,000 after purchasing an additional 100 shares during the period. Prudent Man Investment Management Inc. acquired a new position in shares of Amazon.com during the fourth quarter valued at $27,000. LSV Asset Management acquired a new position in shares of Amazon.com during the fourth quarter valued at $35,000. Finally, Perritt Capital Management Inc increased its holdings in shares of Amazon.com by 72.7% during the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock valued at $42,000 after purchasing an additional 80 shares during the period. 72.20% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the company. Stifel Nicolaus lowered their price target on Amazon.com from $248.00 to $245.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. The Goldman Sachs Group lowered their price target on Amazon.com from $255.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Raymond James reissued an “outperform” rating and set a $195.00 price target (down from $275.00) on shares of Amazon.com in a report on Monday, April 21st. Telsey Advisory Group reissued an “outperform” rating and set a $235.00 price target on shares of Amazon.com in a report on Friday, May 2nd. Finally, Benchmark reissued a “buy” rating and set a $260.00 price target on shares of Amazon.com in a report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the stock. According to MarketBeat, Amazon.com presently has a consensus rating of “Moderate Buy” and an average target price of $244.89.
Amazon.com Trading Down 0.5%
Shares of NASDAQ AMZN opened at $212.10 on Monday. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $242.52. The firm has a market capitalization of $2.25 trillion, a PE ratio of 38.35, a PEG ratio of 1.50 and a beta of 1.33. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. The business has a 50-day moving average price of $195.47 and a two-hundred day moving average price of $209.21.
Amazon.com (NASDAQ:AMZN – Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.21. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. The firm had revenue of $155.67 billion during the quarter, compared to analyst estimates of $154.96 billion. During the same period last year, the company posted $0.98 EPS. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.
Insider Activity
In other news, CFO Brian T. Olsavsky sold 17,750 shares of Amazon.com stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $201.57, for a total transaction of $3,577,867.50. Following the completion of the sale, the chief financial officer now directly owns 49,000 shares in the company, valued at $9,876,930. The trade was a 26.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew R. Jassy sold 19,872 shares of Amazon.com stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total value of $4,000,233.60. Following the sale, the chief executive officer now owns 2,148,694 shares of the company’s stock, valued at approximately $432,532,102.20. This represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 102,037 shares of company stock worth $20,531,075 in the last three months. 9.70% of the stock is owned by insiders.
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.
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