Jessup Wealth Management Inc Acquires 5,762 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Jessup Wealth Management Inc increased its stake in Amazon.com by 3.8%, making Amazon its largest holding, which comprises 12.3% of its investment portfolio, valued at approximately $29.7 million.
• Several institutional investors have also boosted their positions in Amazon.com, with hedge funds owning 72.20% of the company's stock, reflecting ongoing confidence in the e-commerce giant.
• Amazon reported $1.68 EPS for the last quarter, exceeding analysts' expectations, with total revenue of $167.70 billion, marking a year-over-year increase of 13.3%.

Jessup Wealth Management Inc grew its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 156,254 shares of the e-commerce giant's stock after purchasing an additional 5,762 shares during the quarter. Amazon.com makes up 12.3% of Jessup Wealth Management Inc's holdings, making the stock its biggest position. Jessup Wealth Management Inc's holdings in Amazon.com were worth $29,729,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Amazon.com during the fourth quarter worth about $27,266,582,000. GAMMA Investing LLC boosted its position in Amazon.com by 21,420.5% during the first quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant's stock worth $5,754,425,000 after acquiring an additional 30,104,520 shares during the last quarter. Capital World Investors boosted its position in Amazon.com by 36.8% during the fourth quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant's stock worth $14,416,078,000 after acquiring an additional 17,681,004 shares during the last quarter. Vanguard Group Inc. boosted its position in Amazon.com by 2.2% during 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 acquiring an additional 17,635,391 shares during the last quarter. Finally, Capital International Investors boosted its position in Amazon.com by 26.5% during the fourth quarter. Capital International Investors now owns 57,268,523 shares of the e-commerce giant's stock worth $12,564,961,000 after acquiring an additional 12,000,745 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Wall Street Analysts Forecast Growth

AMZN has been the topic of a number of recent research reports. Tigress Financial boosted their price target on shares of Amazon.com from $290.00 to $305.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Pivotal Research lifted their target price on shares of Amazon.com from $260.00 to $285.00 and gave the stock a "buy" rating in a research note on Friday. Robert W. Baird lifted their target price on shares of Amazon.com from $220.00 to $244.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Stifel Nicolaus lifted their target price on shares of Amazon.com from $245.00 to $262.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $195.00 target price (down from $275.00) on shares of Amazon.com in a research note on Monday, April 21st. One equities research analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $262.45.

Amazon.com Stock Performance

AMZN stock traded down $19.36 on Friday, hitting $214.75. The company's stock had a trading volume of 122,007,379 shares, compared to its average volume of 43,924,596. The firm has a 50 day moving average of $218.20 and a two-hundred day moving average of $209.11. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The stock has a market cap of $2.28 trillion, a price-to-earnings ratio of 32.74, a price-to-earnings-growth ratio of 1.57 and a beta of 1.31. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15.

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

Insider Buying and Selling

In related news, insider Jeffrey P. Bezos sold 2,643,142 shares of the company's stock in a transaction 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 owned 883,779,901 shares in the company, valued at $203,649,402,587.43. This represents a 0.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 25,099,537 shares of company stock valued at $5,674,394,548. 10.80% of the stock is owned by corporate 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.