Phraction Management LLC Purchases 3,405 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Phraction Management LLC increased its stake in Amazon.com by 3.0%, making it the fund's largest position, now comprising approximately 7.5% of their investment portfolio valued at $22.37 million.
• In recent insider activity, Jeffrey P. Bezos sold over 2.6 million shares of Amazon, worth about $609 million, resulting in a 0.30% decrease in his ownership.
• Analysts have mixed outlooks on Amazon's stock, with a consensus rating of “Moderate Buy” and a target price around $254.33, while some adjusted their price targets both upwards and downwards in recent reports.

Phraction Management LLC lifted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 3.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,588 shares of the e-commerce giant's stock after purchasing an additional 3,405 shares during the quarter. Amazon.com accounts for 7.5% of Phraction Management LLC's portfolio, making the stock its largest position. Phraction Management LLC's holdings in Amazon.com were worth $22,372,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings 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 purchasing an additional 17,635,391 shares during the last quarter. FMR LLC boosted its stake in shares of Amazon.com by 0.5% during the 4th quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant's stock worth $72,061,766,000 after buying an additional 1,725,664 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Amazon.com by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant's stock valued at $44,837,256,000 after acquiring an additional 5,015,380 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Amazon.com by 2.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 182,813,905 shares of the e-commerce giant's stock worth $40,107,544,000 after acquiring an additional 4,087,933 shares in the last quarter. Finally, Norges Bank bought a new stake in Amazon.com during the fourth quarter worth about $27,266,582,000. Institutional investors and hedge funds own 72.20% of the company's stock.

Insider Activity at Amazon.com

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of the stock in a transaction on Friday, July 11th. The stock was sold at an average price of $224.81, for a total value of $960,666,409.97. Following the completion of the sale, the insider directly owned 897,722,088 shares in the company, valued at $201,816,902,603.28. This represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 25,102,037 shares of company stock worth $5,674,871,223 in the last quarter. 9.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on AMZN. Wall Street Zen downgraded Amazon.com from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. HSBC upped their price target on shares of Amazon.com from $240.00 to $256.00 in a research report on Tuesday, July 22nd. JMP Securities boosted their price objective on shares of Amazon.com from $250.00 to $285.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 10th. BNP Paribas upgraded shares of Amazon.com from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. Finally, BMO Capital Markets raised their price objective on Amazon.com from $233.00 to $270.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Three equities research analysts have rated the stock with a hold rating, forty-five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $255.52.

Amazon.com Price Performance

Shares of AMZN traded down $0.82 during mid-day trading on Wednesday, reaching $230.19. The company had a trading volume of 32,258,949 shares, compared to its average volume of 33,970,456. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.05. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52. The company has a market capitalization of $2.44 trillion, a price-to-earnings ratio of 37.49, a P/E/G ratio of 1.71 and a beta of 1.33. The company's 50 day simple moving average is $217.31 and its 200 day simple moving average is $209.12.

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, beating the consensus estimate 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 the consensus estimate of $154.96 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. The firm's revenue was up 8.6% compared to the same quarter last year. Analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current year.

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.