Crosspoint Financial LLC Makes New Investment in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Crosspoint Financial LLC has made a new investment in Amazon.com, purchasing 1,540 shares worth approximately $293,000, making it the firm's 24th largest holding.
• Amazon's stock has experienced fluctuations, trading down 0.2% to $222.69, while analysts have increased price targets, with Barclays raising theirs from $240.00 to $275.00.
• Insider trading has occurred, with CEO Douglas J. Herrington and founder Jeffrey P. Bezos selling a combined 2,645,642 shares, valuing over $609 million in total transactions.

Crosspoint Financial LLC bought a new position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 1,540 shares of the e-commerce giant's stock, valued at approximately $293,000. Amazon.com accounts for 0.8% of Crosspoint Financial LLC's holdings, making the stock its 24th biggest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in Amazon.com in the fourth quarter worth $27,266,582,000. GAMMA Investing LLC boosted its position in shares of Amazon.com by 21,420.5% in the 1st quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant's stock worth $5,754,425,000 after purchasing an additional 30,104,520 shares in the last quarter. Capital World Investors boosted its position in shares of Amazon.com by 36.8% in the 4th quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant's stock worth $14,416,078,000 after purchasing an additional 17,681,004 shares in the last quarter. Vanguard Group Inc. grew its stake in Amazon.com by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock worth $180,637,081,000 after buying an additional 17,635,391 shares during the last quarter. Finally, Capital International Investors increased its position in Amazon.com by 26.5% during the 4th quarter. Capital International Investors now owns 57,268,523 shares of the e-commerce giant's stock valued at $12,564,961,000 after buying an additional 12,000,745 shares in the last quarter. Institutional investors own 72.20% of the company's stock.

Amazon.com Trading Down 0.2%

NASDAQ:AMZN traded down $0.44 on Friday, reaching $222.69. The company's stock had a trading volume of 32,911,537 shares, compared to its average volume of 47,624,592. Amazon.com, Inc. has a 12-month low of $161.38 and a 12-month high of $242.52. The stock has a 50 day moving average price of $219.65 and a 200 day moving average price of $208.98. The firm has a market cap of $2.37 trillion, a price-to-earnings ratio of 33.95, a price-to-earnings-growth ratio of 1.50 and a beta of 1.31. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 0.15.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.31 by $0.37. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%. The firm had revenue of $167.70 billion during the quarter, compared to the consensus estimate of $161.80 billion. During the same period last year, the company earned $1.26 EPS. The company's quarterly revenue was up 13.3% on a year-over-year basis. On average, equities analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Barclays raised their price target on Amazon.com from $240.00 to $275.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Canaccord Genuity Group reiterated a "buy" rating and issued a $280.00 target price on shares of Amazon.com in a research note on Friday, August 1st. Stifel Nicolaus boosted their target price on shares of Amazon.com from $245.00 to $262.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. The Goldman Sachs Group restated a "buy" rating on shares of Amazon.com in a research note on Friday, August 1st. Finally, Bank of America lifted their price objective on shares of Amazon.com from $265.00 to $272.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $262.45.

Insider Transactions at Amazon.com

In other news, CEO Douglas J. Herrington sold 2,500 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $217.00, for a total value of $542,500.00. Following the transaction, the chief executive officer directly owned 512,050 shares in the company, valued at approximately $111,114,850. This represents a 0.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,643,142 shares of the stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $230.43, for a total transaction of $609,059,211.06. Following the transaction, the insider directly owned 883,779,901 shares of the company's stock, valued at $203,649,402,587.43. The trade was a 0.30% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,102,037 shares of company stock valued at $5,674,937,048. Company insiders own 9.70% of the company's stock.

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.