683 Capital Management LLC Makes New $6.14 Million Investment in Amazon.com, Inc. $AMZN

683 Capital Management LLC bought a new position in Amazon.com, Inc. (NASDAQ:AMZN) in the second quarter, Holdings Channel.com reports. The firm bought 28,000 shares of the e-commerce giant’s stock, valued at approximately $6,143,000.

A number of other hedge funds also recently made changes to their positions in AMZN. Carderock Capital Management Inc. acquired a new position in shares of Amazon.com during the second quarter worth $27,000. Maryland Capital Advisors Inc. grew its position in Amazon.com by 81.9% during the 2nd quarter. Maryland Capital Advisors Inc. now owns 211 shares of the e-commerce giant’s stock worth $46,000 after acquiring an additional 95 shares during the last quarter. Ryan Investment Management Inc. acquired a new position in Amazon.com in the 2nd quarter worth about $48,000. MJT & Associates Financial Advisory Group Inc. bought a new position in Amazon.com in the first quarter valued at about $59,000. Finally, Access Investment Management LLC bought a new position in Amazon.com in the second quarter valued at about $74,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $226.61, for a total value of $280,316.57. Following the completion of the sale, the director directly owned 26,148 shares of the company’s stock, valued at approximately $5,925,398.28. The trade was a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Matthew S. Garman sold 17,768 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $216.90, for a total value of $3,853,879.20. Following the completion of the sale, the chief executive officer directly owned 6,273 shares of the company’s stock, valued at $1,360,613.70. The trade was a 73.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 82,234 shares of company stock valued at $19,076,767. 9.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. BNP Paribas Exane initiated coverage on Amazon.com in a research note on Monday, November 24th. They issued an “outperform” rating for the company. Canaccord Genuity Group set a $300.00 target price on shares of Amazon.com and gave the stock a “buy” rating in a report on Friday, October 31st. Guggenheim upgraded shares of Amazon.com to a “strong-buy” rating in a research report on Wednesday. Susquehanna set a $300.00 price target on shares of Amazon.com and gave the stock a “positive” rating in a report on Friday, October 31st. Finally, JMP Securities set a $300.00 price objective on shares of Amazon.com in a research note on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, fifty-six have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $295.43.

Amazon.com Trading Down 1.8%

NASDAQ AMZN opened at $226.19 on Friday. The stock has a market capitalization of $2.42 trillion, a P/E ratio of 31.95, a P/E/G ratio of 1.58 and a beta of 1.37. The business has a 50 day simple moving average of $229.35 and a 200 day simple moving average of $224.73. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.01 and a quick ratio of 0.80. Amazon.com, Inc. has a one year low of $161.38 and a one year high of $258.60.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 30th. The e-commerce giant reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.38. The firm had revenue of $180.17 billion for the quarter, compared to analysts’ expectations of $177.53 billion. Amazon.com had a return on equity of 23.62% and a net margin of 11.06%.The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.43 EPS. Research analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

About Amazon.com

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.