Bleakley Financial Group LLC Acquires 22,938 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Bleakley Financial Group LLC boosted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 8.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 303,643 shares of the e-commerce giant's stock after acquiring an additional 22,938 shares during the period. Amazon.com makes up approximately 1.9% of Bleakley Financial Group LLC's investment portfolio, making the stock its 12th largest holding. Bleakley Financial Group LLC's holdings in Amazon.com were worth $57,771,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMZN. Western Wealth Management LLC increased its position in shares of Amazon.com by 0.9% in the first quarter. Western Wealth Management LLC now owns 140,122 shares of the e-commerce giant's stock valued at $26,660,000 after acquiring an additional 1,297 shares during the last quarter. Momentous Wealth Management Inc. acquired a new stake in shares of Amazon.com in the fourth quarter valued at about $749,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Amazon.com in the first quarter valued at about $514,000. Segall Bryant & Hamill LLC increased its position in Amazon.com by 14.3% during the fourth quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant's stock worth $69,572,000 after buying an additional 39,696 shares during the last quarter. Finally, Bearing Point Capital LLC acquired a new position in Amazon.com during the fourth quarter worth approximately $12,014,000. 72.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of the firm's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $224.81, for a total value of $960,666,409.97. Following the transaction, the insider owned 897,722,088 shares of the company's stock, valued at approximately $201,816,902,603.28. This trade represents a 0.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 25,101,037 shares of company stock valued at $5,674,726,368. 10.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Morgan Stanley reissued an "overweight" rating on shares of Amazon.com in a research report on Monday, July 28th. Bank of America boosted their price target on Amazon.com from $265.00 to $272.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Susquehanna boosted their price target on Amazon.com from $225.00 to $260.00 and gave the stock a "positive" rating in a research report on Friday, August 1st. Pivotal Research boosted their price target on Amazon.com from $260.00 to $285.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, Wedbush boosted their price objective on Amazon.com from $235.00 to $250.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. 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 MarketBeat.com, Amazon.com presently has an average rating of "Buy" and a consensus target price of $262.45.

Amazon.com Stock Up 1.4%

Shares of AMZN stock traded up $3.01 on Wednesday, reaching $224.48. 27,688,120 shares of the company were exchanged, compared to its average volume of 44,812,195. The company has a market cap of $2.39 trillion, a price-to-earnings ratio of 34.20, a PEG ratio of 1.49 and a beta of 1.31. The company has a 50-day moving average of $220.25 and a 200-day moving average of $208.61. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.81. Amazon.com, Inc. has a one year low of $161.38 and a one year high of $242.52.

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

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.