Ballentine Partners LLC Raises Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Ballentine Partners LLC increased its holdings in Amazon.com, Inc. by 3.2%, owning 174,529 shares valued at approximately $33.2 million.
• Insider trading included Jeffrey P. Bezos selling over 2.6 million shares for more than $609 million, reducing his position by 0.30%.
• Amazon's stock has a market capitalization of $2.37 trillion and has reported a quarterly revenue of $167.7 billion, exceeding analysts' expectations.

Ballentine Partners LLC increased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 3.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 174,529 shares of the e-commerce giant's stock after acquiring an additional 5,336 shares during the quarter. Amazon.com makes up approximately 0.6% of Ballentine Partners LLC's holdings, making the stock its 24th biggest holding. Ballentine Partners LLC's holdings in Amazon.com were worth $33,206,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Castlekeep Investment Advisors LLC bought a new stake in shares of Amazon.com in the 4th quarter worth about $25,000. Prudent Man Investment Management Inc. acquired a new position in Amazon.com during the 4th quarter valued at about $27,000. LSV Asset Management acquired a new position in Amazon.com during the 4th quarter valued at about $35,000. Cooksen Wealth LLC acquired a new position in Amazon.com during the 1st quarter valued at about $36,000. Finally, Inlight Wealth Management LLC acquired a new stake in shares of Amazon.com in the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 72.20% of the company's stock.

Insider Activity

In other 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 transaction 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 represents a 0.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 25,102,037 shares of company stock worth $5,674,937,048. 9.70% of the stock is currently owned by corporate insiders.

Amazon.com Trading Down 0.2%

Amazon.com stock traded down $0.44 during mid-day trading on Friday, hitting $222.69. The company's stock had a trading volume of 32,911,537 shares, compared to its average volume of 47,624,592. The company has a 50 day moving average of $219.65 and a 200-day moving average of $208.80. The stock has a market cap of $2.37 trillion, a PE ratio of 33.95, a P/E/G ratio of 1.50 and a beta of 1.31. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 1.02. 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 EPS for the quarter, topping the consensus estimate of $1.31 by $0.37. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%. The company had revenue of $167.70 billion for the quarter, compared to the consensus estimate of $161.80 billion. During the same period last year, the business posted $1.26 EPS. Amazon.com's quarterly revenue was up 13.3% on a year-over-year basis. On average, research analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on AMZN shares. BNP Paribas Exane raised shares of Amazon.com from a "neutral" rating to an "outperform" rating and set a $254.00 target price for the company in a research note on Friday, June 27th. Wall Street Zen raised shares of Amazon.com from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. The Goldman Sachs Group reissued a "buy" rating on shares of Amazon.com in a research note on Friday, August 1st. Tigress Financial boosted their price target on shares of Amazon.com from $290.00 to $305.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Finally, HSBC boosted their price target on shares of Amazon.com from $240.00 to $256.00 in a report on Tuesday, July 22nd. One research analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Amazon.com presently has an average rating of "Buy" and an average target price of $262.45.

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.