1248 Management LLC Invests $19.40 Million in Amazon.com, Inc. (NASDAQ:AMZN)

1248 Management LLC bought a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 88,419 shares of the e-commerce giant's stock, valued at approximately $19,398,000. Amazon.com comprises approximately 8.4% of 1248 Management LLC's portfolio, making the stock its 2nd biggest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cable Hill Partners LLC raised its holdings in shares of Amazon.com by 0.5% during the fourth quarter. Cable Hill Partners LLC now owns 9,588 shares of the e-commerce giant's stock worth $2,104,000 after acquiring an additional 44 shares in the last quarter. Quattro Financial Advisors LLC raised its stake in shares of Amazon.com by 23.8% during the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant's stock worth $51,000 after purchasing an additional 45 shares in the last quarter. Northern Capital Management Inc. raised its stake in shares of Amazon.com by 0.6% during the 4th quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant's stock worth $1,613,000 after purchasing an additional 45 shares in the last quarter. White Wing Wealth Management raised its stake in shares of Amazon.com by 2.4% during the 4th quarter. White Wing Wealth Management now owns 1,972 shares of the e-commerce giant's stock worth $433,000 after purchasing an additional 47 shares in the last quarter. Finally, MBM Wealth Consultants LLC raised its position in Amazon.com by 0.6% during the fourth quarter. MBM Wealth Consultants LLC now owns 8,578 shares of the e-commerce giant's stock valued at $1,889,000 after acquiring an additional 48 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. DA Davidson cut their price target on shares of Amazon.com from $280.00 to $230.00 and set a "buy" rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. boosted their price target on Amazon.com from $220.00 to $225.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Barclays decreased their price target on Amazon.com from $265.00 to $240.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Jefferies Financial Group cut their price objective on Amazon.com from $250.00 to $240.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Amazon.com from $287.00 to $206.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Four investment analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company's stock. According to MarketBeat, Amazon.com has a consensus rating of "Moderate Buy" and a consensus target price of $244.09.

Amazon.com Stock Down 1.4%

AMZN stock opened at $201.12 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. The stock has a market capitalization of $2.14 trillion, a price-to-earnings ratio of 36.37, a PEG ratio of 1.50 and a beta of 1.30. The business's fifty day moving average price is $189.74 and its two-hundred day moving average price is $208.74. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted 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 for the quarter, compared to analyst estimates of $154.96 billion. During the same quarter last year, the company earned $0.98 EPS. The company's revenue was up 8.6% on a year-over-year basis. On average, equities analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Buying and Selling at Amazon.com

In related news, CFO Brian T. Olsavsky sold 14,620 shares of Amazon.com stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $223.14, for a total value 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 $10,933,860. This trade represents a 22.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total value of $469,975.00. Following the completion of the transaction, the chief executive officer now owns 509,474 shares in the company, valued at approximately $95,776,017.26. This represents a 0.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 80,081 shares of company stock valued at $17,421,044 in the last ninety days. 9.70% of the stock is currently owned by company insiders.

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.

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