Bell Bank Raises Position in Amazon.com, Inc. (NASDAQ:AMZN)

Bell Bank boosted its position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 5.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,806 shares of the e-commerce giant's stock after purchasing an additional 3,446 shares during the quarter. Amazon.com comprises 0.7% of Bell Bank's investment portfolio, making the stock its 23rd biggest position. Bell Bank's holdings in Amazon.com were worth $12,520,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Momentous Wealth Management Inc. purchased a new stake in shares of Amazon.com during the 4th quarter valued at $749,000. Segall Bryant & Hamill LLC raised its position in shares of Amazon.com by 14.3% during the 4th quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant's stock valued at $69,572,000 after buying an additional 39,696 shares in the last quarter. Bearing Point Capital LLC purchased a new stake in shares of Amazon.com during the 4th quarter valued at $12,014,000. Evergreen Capital Management LLC raised its position in shares of Amazon.com by 0.5% during the 4th quarter. Evergreen Capital Management LLC now owns 242,550 shares of the e-commerce giant's stock valued at $53,213,000 after buying an additional 1,198 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Amazon.com by 173.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,461,573 shares of the e-commerce giant's stock valued at $759,434,000 after buying an additional 2,196,353 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Amazon.com

In related news, CEO Andrew R. Jassy sold 19,872 shares of Amazon.com stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total transaction of $4,000,233.60. Following the completion of the transaction, the chief executive officer directly owned 2,148,694 shares of the company's stock, valued at $432,532,102.20. This trade represents a 0.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jeffrey P. Bezos sold 3,100,000 shares of Amazon.com stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $221.42, for a total transaction of $686,402,000.00. Following the transaction, the insider directly owned 905,679,901 shares of the company's stock, valued at approximately $200,535,643,679.42. This trade represents a 0.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,426,963 shares of company stock worth $757,297,707 over the last 90 days. 9.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AMZN has been the topic of several research reports. BNP Paribas Exane upgraded shares of Amazon.com from a "neutral" rating to an "outperform" rating and set a $254.00 price objective on the stock in a research report on Friday, June 27th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Amazon.com from $287.00 to $206.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Jefferies Financial Group reduced their target price on shares of Amazon.com from $250.00 to $240.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Piper Sandler reaffirmed an "overweight" rating and set a $212.00 target price (down previously from $215.00) on shares of Amazon.com in a report on Friday, May 2nd. Finally, Evercore ISI reduced their target price on shares of Amazon.com from $270.00 to $260.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating, forty-five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $245.60.

Amazon.com Trading Up 1.5%

Shares of AMZN traded up $3.21 during trading hours on Friday, reaching $223.13. 29,632,353 shares of the company traded hands, compared to its average volume of 42,018,920. The company's fifty day moving average price is $206.44 and its two-hundred day moving average price is $208.70. The company has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 36.34, a price-to-earnings-growth ratio of 1.68 and a beta of 1.33. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.17. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52.

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

Amazon.com Company 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.