Mirae Asset Global Investments Co. Ltd. Acquires 1,185,232 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Mirae Asset Global Investments Co. Ltd. increased its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 29.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,246,583 shares of the e-commerce giant's stock after purchasing an additional 1,185,232 shares during the period. Amazon.com accounts for 2.6% of Mirae Asset Global Investments Co. Ltd.'s investment portfolio, making the stock its 7th biggest position. Mirae Asset Global Investments Co. Ltd.'s holdings in Amazon.com were worth $998,215,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Tallon Kerry Patrick acquired a new position in Amazon.com in the fourth quarter valued at $800,000. LaFleur & Godfrey LLC lifted its stake in shares of Amazon.com by 1.8% during the fourth quarter. LaFleur & Godfrey LLC now owns 49,407 shares of the e-commerce giant's stock worth $10,839,000 after purchasing an additional 860 shares in the last quarter. Brighton Jones LLC lifted its stake in shares of Amazon.com by 10.9% during the fourth quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant's stock worth $885,478,000 after purchasing an additional 397,007 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of Amazon.com during the fourth quarter worth about $301,650,000. Finally, Revolve Wealth Partners LLC lifted its stake in shares of Amazon.com by 4.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant's stock worth $5,495,000 after purchasing an additional 986 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Insiders Place Their Bets

In other Amazon.com news, insider Jeffrey P. Bezos sold 4,273,237 shares of the firm's stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the transaction, the insider directly owned 897,722,088 shares in the company, valued at $201,816,902,603.28. This trade represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 20,947,939 shares of company stock worth $4,720,588,785 in the last 90 days. 9.70% of the stock is owned by company insiders.

Amazon.com Stock Up 1.7%

Shares of NASDAQ:AMZN traded up $3.98 during midday trading on Thursday, hitting $232.27. 21,892,450 shares of the stock were exchanged, compared to its average volume of 44,104,387. 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 52-week low of $151.61 and a 52-week high of $242.52. The business's fifty day simple moving average is $214.60 and its two-hundred day simple moving average is $208.81. The company has a market capitalization of $2.47 trillion, a PE ratio of 37.83, a P/E/G ratio of 1.70 and a beta of 1.33.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping 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 business had revenue of $155.67 billion during the quarter, compared to analyst estimates of $154.96 billion. During the same period last year, the company earned $0.98 earnings per share. Amazon.com's quarterly revenue was up 8.6% compared to the same quarter last year. As a group, research analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on AMZN shares. Telsey Advisory Group restated an "outperform" rating and set a $235.00 price objective on shares of Amazon.com in a research note on Thursday, July 10th. Bank of America boosted their price target on Amazon.com from $248.00 to $265.00 and gave the stock a "buy" rating in a research note on Wednesday. Benchmark reiterated a "buy" rating and issued a $260.00 price target on shares of Amazon.com in a research note on Friday, May 2nd. JMP Securities upped their price objective on Amazon.com from $250.00 to $285.00 and gave the company a "market outperform" rating in a research note on Thursday, July 10th. Finally, Stifel Nicolaus cut their price objective on Amazon.com from $248.00 to $245.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Three research analysts have rated the stock with a hold rating, forty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $254.33.

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.