Arrow Capital Management LLC Purchases Shares of 124,026 Amazon.com, Inc. $AMZN

Arrow Capital Management LLC acquired a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the 4th quarter, Holdings Channel reports. The firm acquired 124,026 shares of the e-commerce giant’s stock, valued at approximately $28,628,000. Amazon.com accounts for 16.7% of Arrow Capital Management LLC’s holdings, making the stock its 2nd biggest position.

Several other large investors also recently made changes to their positions in the company. MilWealth Group LLC raised its holdings in Amazon.com by 79.0% during the fourth quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant’s stock worth $41,000 after buying an additional 79 shares during the last quarter. Elkhorn Partners Limited Partnership increased its position in shares of Amazon.com by 900.0% during the fourth quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant’s stock worth $46,000 after acquiring an additional 180 shares in the last quarter. Fairway Wealth LLC increased its position in shares of Amazon.com by 95.6% during the fourth quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant’s stock worth $51,000 after acquiring an additional 108 shares in the last quarter. Prudent Man Investment Management Inc. lifted its position in Amazon.com by 87.7% in the 4th quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant’s stock valued at $53,000 after acquiring an additional 107 shares in the last quarter. Finally, Bridge Generations Wealth Management LLC boosted its stake in Amazon.com by 2,330.0% during the 3rd quarter. Bridge Generations Wealth Management LLC now owns 243 shares of the e-commerce giant’s stock valued at $53,000 after purchasing an additional 233 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $244.39 on Friday. The business’s fifty day moving average is $256.51 and its 200 day moving average is $234.12. The firm has a market cap of $2.63 trillion, a price-to-earnings ratio of 29.23, a PEG ratio of 1.83 and a beta of 1.44. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.18. Amazon.com, Inc. has a 52-week low of $196.00 and a 52-week high of $278.56.

Amazon.com (NASDAQ:AMZNGet Free Report) last issued its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 EPS for the quarter, topping the consensus estimate of $1.63 by $1.15. The business had revenue of $181.52 billion during the quarter, compared to the consensus estimate of $177.28 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The firm’s revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.59 EPS. Research analysts predict that Amazon.com, Inc. will post 7.71 EPS for the current year.

Insider Activity

In related news, CEO Matthew S. Garman sold 15,467 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $263.40, for a total transaction of $4,074,007.80. Following the completion of the transaction, the chief executive officer owned 14,159 shares of the company’s stock, valued at approximately $3,729,480.60. The trade was a 52.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 27,500 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $275.00, for a total transaction of $7,562,500.00. Following the completion of the transaction, the chief executive officer directly owned 471,361 shares of the company’s stock, valued at approximately $129,624,275. The trade was a 5.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 195,774 shares of company stock valued at $51,614,434 over the last ninety days. 8.90% of the stock is owned by insiders.

Analyst Ratings Changes

AMZN has been the subject of several analyst reports. TD Cowen reissued a “buy” rating and issued a $350.00 price objective on shares of Amazon.com in a research note on Tuesday, May 12th. Scotiabank reaffirmed an “outperform” rating and set a $325.00 target price (up from $275.00) on shares of Amazon.com in a research report on Thursday, April 30th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Amazon.com in a research report on Thursday. Wells Fargo & Company set a $312.00 price target on Amazon.com and gave the company an “overweight” rating in a research report on Wednesday, May 20th. Finally, New Street Research upped their target price on shares of Amazon.com from $280.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Fifty-seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $312.78.

Read Our Latest Research Report on AMZN

Key Headlines Impacting Amazon.com

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About Amazon.com

(Free Report)

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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