Amazon.com, Inc. (NASDAQ:AMZN) Shares Bought by Alta Advisers Ltd

Key Points

• Alta Advisers Ltd increased its stake in Amazon.com by 55.2%, acquiring an additional 17,180 shares, bringing its total holdings to 48,287 shares valued at approximately $9.19 million.
• Insider Jeffrey P. Bezos sold over 2.6 million shares of Amazon, reducing his ownership by 0.30% and indicating a significant transaction valued at over $609 million.
• Analysts have mixed views, with price targets for Amazon ranging from $240 to $265, while the stock has a "Moderate Buy" consensus rating.

Alta Advisers Ltd lifted its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 55.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,287 shares of the e-commerce giant's stock after purchasing an additional 17,180 shares during the period. Amazon.com accounts for approximately 3.9% of Alta Advisers Ltd's holdings, making the stock its 5th largest holding. Alta Advisers Ltd's holdings in Amazon.com were worth $9,187,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Castlekeep Investment Advisors LLC acquired a new stake in Amazon.com during the 4th quarter worth $25,000. Prudent Man Investment Management Inc. acquired a new stake in Amazon.com during the 4th quarter worth $27,000. LSV Asset Management acquired a new stake in Amazon.com during the 4th quarter worth $35,000. Inlight Wealth Management LLC acquired a new stake in shares of Amazon.com in the 1st quarter valued at about $40,000. Finally, Perritt Capital Management Inc raised its stake in shares of Amazon.com by 72.7% in the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock valued at $42,000 after purchasing an additional 80 shares during the period. 72.20% of the stock is currently owned by institutional investors.

Amazon.com Stock Performance

Shares of NASDAQ:AMZN traded down $1.89 during trading on Tuesday, reaching $230.90. 8,528,015 shares of the stock were exchanged, compared to its average volume of 43,771,383. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52. The firm has a market cap of $2.45 trillion, a PE ratio of 37.61, a PEG ratio of 1.72 and a beta of 1.33. The stock has a 50-day moving average price of $216.19 and a 200-day moving average price of $208.82. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.38 by $0.21. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The company had revenue of $155.67 billion during the quarter, compared to analysts' expectations of $154.96 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. The business's revenue was up 8.6% on a year-over-year basis. Research analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Activity

In other news, insider Jeffrey P. Bezos sold 2,643,142 shares of Amazon.com stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $230.43, for a total value of $609,059,211.06. Following the completion of the sale, the insider directly owned 883,779,901 shares in the company, valued at approximately $203,649,402,587.43. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 25,102,037 shares of company stock worth $5,674,871,223 in the last three months. Insiders own 9.70% of the company's stock.

Analysts Set New Price Targets

AMZN has been the topic of several recent research reports. JMP Securities lifted their price target on Amazon.com from $250.00 to $285.00 and gave the company a "market outperform" rating in a research note on Thursday, July 10th. Truist Financial lifted their price target on Amazon.com from $226.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Evercore ISI dropped their price target on Amazon.com from $270.00 to $260.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Wedbush reissued an "outperform" rating and issued a $235.00 price target (up previously from $225.00) on shares of Amazon.com in a research note on Friday, May 2nd. Finally, Robert W. Baird lifted their price target on Amazon.com from $220.00 to $244.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Three analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $255.21.

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.