Amazon.com, Inc. (NASDAQ:AMZN) is Sierra Summit Advisors LLC's 5th Largest Position

Sierra Summit Advisors LLC increased its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 3.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,785 shares of the e-commerce giant's stock after buying an additional 2,868 shares during the period. Amazon.com accounts for 3.4% of Sierra Summit Advisors LLC's portfolio, making the stock its 5th largest position. Sierra Summit Advisors LLC's holdings in Amazon.com were worth $17,065,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of AMZN. Norges Bank bought a new position in shares of Amazon.com in the 4th quarter worth approximately $27,266,582,000. Vanguard Group Inc. raised its holdings in Amazon.com by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock worth $180,637,081,000 after purchasing an additional 17,635,391 shares in the last quarter. Proficio Capital Partners LLC lifted its position in Amazon.com by 17,054.5% during the fourth quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant's stock valued at $2,652,116,000 after buying an additional 12,018,120 shares during the period. State Street Corp boosted its holdings in shares of Amazon.com by 3.3% during the 3rd quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant's stock valued at $66,926,008,000 after buying an additional 11,370,309 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Amazon.com by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant's stock worth $37,116,341,000 after buying an additional 6,545,944 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Andrew R. Jassy sold 20,784 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $220.65, for a total transaction of $4,585,989.60. Following the sale, the chief executive officer now owns 2,118,886 shares of the company's stock, valued at $467,532,195.90. This represents a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas J. Herrington sold 5,501 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 505,318 shares in the company, valued at approximately $115,434,843.92. This trade represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 107,298 shares of company stock worth $23,818,478 over the last 90 days. Corporate insiders own 9.70% of the company's stock.

Wall Street Analysts Forecast Growth

AMZN has been the subject of a number of recent research reports. Cantor Fitzgerald lifted their price target on shares of Amazon.com from $230.00 to $240.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Citigroup reiterated an "outperform" rating on shares of Amazon.com in a report on Friday, May 2nd. DA Davidson cut their price target on Amazon.com from $280.00 to $230.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. The Goldman Sachs Group lowered their price objective on Amazon.com from $255.00 to $220.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Wells Fargo & Company cut their target price on Amazon.com from $207.00 to $203.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $244.09.

Amazon.com Price Performance

NASDAQ AMZN traded up $3.70 during trading hours on Wednesday, reaching $188.71. The company's stock had a trading volume of 43,929,015 shares, compared to its average volume of 41,656,015. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $2.00 trillion, a price-to-earnings ratio of 34.12, a PEG ratio of 1.50 and a beta of 1.30. The firm's 50-day moving average price is $189.45 and its 200-day moving average price is $207.88.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, topping the consensus estimate of $1.38 by $0.21. The firm had revenue of $155.67 billion for the quarter, compared to the consensus estimate of $154.96 billion. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. The company's quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.98 earnings per share. On average, equities research analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Amazon.com 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.