Summit Financial LLC Buys 5,245 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Summit Financial LLC grew its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 223,937 shares of the e-commerce giant's stock after buying an additional 5,245 shares during the period. Amazon.com accounts for 1.7% of Summit Financial LLC's portfolio, making the stock its 9th biggest holding. Summit Financial LLC's holdings in Amazon.com were worth $49,129,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Prudent Man Investment Management Inc. purchased a new position in Amazon.com in the 4th quarter worth approximately $27,000. Bedell Frazier Investment Counselling LLC lifted its holdings in Amazon.com by 33.1% in the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 112,202 shares of the e-commerce giant's stock worth $24,616,000 after purchasing an additional 27,922 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in Amazon.com by 2.3% in the 4th quarter. Meeder Asset Management Inc. now owns 386,896 shares of the e-commerce giant's stock worth $84,881,000 after purchasing an additional 8,706 shares in the last quarter. D L Carlson Investment Group Inc. lifted its holdings in Amazon.com by 1.5% in the 4th quarter. D L Carlson Investment Group Inc. now owns 79,508 shares of the e-commerce giant's stock worth $17,443,000 after purchasing an additional 1,208 shares in the last quarter. Finally, Axiom Investors LLC DE raised its holdings in shares of Amazon.com by 9.7% during the 4th quarter. Axiom Investors LLC DE now owns 5,006,220 shares of the e-commerce giant's stock worth $1,098,315,000 after acquiring an additional 440,818 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on AMZN shares. Citizens Jmp decreased their price objective on Amazon.com from $285.00 to $240.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Raymond James reaffirmed an "outperform" rating and issued a $195.00 price objective (down previously from $275.00) on shares of Amazon.com in a research report on Monday, April 21st. Maxim Group lifted their price objective on shares of Amazon.com from $260.00 to $280.00 and gave the company a "buy" rating in a report on Friday, February 7th. Telsey Advisory Group decreased their price objective on shares of Amazon.com from $275.00 to $235.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Finally, Royal Bank of Canada lifted their price objective on shares of Amazon.com from $255.00 to $265.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and forty-five have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $246.50.

Amazon.com Price Performance

Shares of Amazon.com stock traded up $5.78 on Thursday, hitting $190.20. 71,774,152 shares of the company were exchanged, compared to its average volume of 41,590,848. 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 50-day moving average price of $191.39 and a 200 day moving average price of $207.74. The stock has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 34.39, a price-to-earnings-growth ratio of 1.50 and a beta of 1.39. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.21. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. Amazon.com's revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.98 earnings per share. As a group, sell-side analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Brian T. Olsavsky sold 14,620 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $223.14, for a total transaction of $3,262,306.80. Following the transaction, the chief financial officer now directly owns 49,000 shares of the company's stock, valued at approximately $10,933,860. The trade was a 22.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Douglas J. Herrington sold 27,500 shares of the business's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total transaction of $6,332,425.00. Following the transaction, the chief executive officer now directly owns 497,067 shares in the company, valued at approximately $114,459,618.09. The trade was a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,798 shares of company stock worth $23,341,803. 10.80% of the stock is owned by corporate insiders.

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.