Synergy Investment Management LLC Has $2.41 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Synergy Investment Management LLC increased its stake in Amazon.com by 127.7%, owning 12,665 shares now valued at approximately $2.41 million.
• Insider Jeffrey P. Bezos sold over 2.6 million shares of Amazon, valued at roughly $609 million, resulting in a 0.30% decrease in his ownership.
• Amazon.com reported quarterly earnings with $1.68 EPS, exceeding analyst expectations, and had a revenue of $167.70 billion, marking a 13.3% year-over-year increase.

Synergy Investment Management LLC lifted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 127.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,665 shares of the e-commerce giant's stock after purchasing an additional 7,103 shares during the period. Amazon.com comprises about 1.0% of Synergy Investment Management LLC's holdings, making the stock its 23rd largest position. Synergy Investment Management LLC's holdings in Amazon.com were worth $2,410,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMZN. Vanguard Group Inc. increased its position in Amazon.com by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock valued at $180,637,081,000 after acquiring an additional 17,635,391 shares during the period. FMR LLC increased its position in Amazon.com by 0.5% in the 4th quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant's stock valued at $72,061,766,000 after acquiring an additional 1,725,664 shares during the period. Geode Capital Management LLC increased its position in 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 during the period. Price T Rowe Associates Inc. MD boosted its holdings in Amazon.com by 2.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 182,813,905 shares of the e-commerce giant's stock valued at $40,107,544,000 after purchasing an additional 4,087,933 shares in the last quarter. Finally, Norges Bank purchased a new stake in Amazon.com in the 4th quarter valued at approximately $27,266,582,000. Institutional investors and hedge funds own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AMZN. Jefferies Financial Group lifted their price objective on Amazon.com from $255.00 to $265.00 in a report on Wednesday, July 16th. Barclays lifted their price objective on Amazon.com from $240.00 to $275.00 and gave the company an "overweight" rating in a report on Friday. Mizuho lowered their price objective on Amazon.com from $285.00 to $255.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Pivotal Research lifted their price objective on Amazon.com from $260.00 to $285.00 and gave the company a "buy" rating in a report on Friday. Finally, Morgan Stanley reissued an "overweight" rating on shares of Amazon.com in a research note on Monday, July 28th. One research analyst has rated the stock with a hold rating, forty-seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Amazon.com has a consensus rating of "Buy" and an average price target of $262.45.

Insider Transactions at Amazon.com

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 directly owned 883,779,901 shares in the company, valued at approximately $203,649,402,587.43. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold 25,099,537 shares of company stock valued at $5,674,394,548 in the last three months. Corporate insiders own 10.80% of the company's stock.

Amazon.com Stock Performance

Shares of AMZN traded down $19.36 during mid-day trading on Friday, reaching $214.75. 122,007,379 shares of the company's stock traded hands, compared to its average volume of 43,924,596. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 1.02. The stock has a market capitalization of $2.28 trillion, a P/E ratio of 32.74, a price-to-earnings-growth ratio of 1.57 and a beta of 1.31. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52. The business's 50-day moving average price is $218.20 and its 200-day moving average price is $209.11.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, topping 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 for the quarter, compared to analysts' expectations of $161.80 billion. During the same period in the previous year, the company posted $1.26 EPS. The company's quarterly revenue was up 13.3% compared to the same quarter last year. Equities analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current 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.