Dock Street Asset Management Inc. Grows Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Dock Street Asset Management Inc. increased its stake in Amazon.com, Inc. by 16.9% in Q1, owning 442,734 shares worth approximately $84.2 million.
• Analysts have expressed a generally bullish outlook for Amazon, with 47 buy ratings and a consensus target price of $262.45 per share.
• Insider transactions included significant sales by CEO Douglas J. Herrington and founder Jeffrey P. Bezos, totaling over $609 million in shares sold.

Dock Street Asset Management Inc. lifted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 16.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 442,734 shares of the e-commerce giant's stock after acquiring an additional 64,113 shares during the period. Amazon.com makes up 9.9% of Dock Street Asset Management Inc.'s investment portfolio, making the stock its 3rd biggest position. Dock Street Asset Management Inc.'s holdings in Amazon.com were worth $84,235,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Amazon.com by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock worth $180,637,081,000 after acquiring an additional 17,635,391 shares during the last quarter. FMR LLC lifted its holdings in shares of Amazon.com by 0.5% during the 4th quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant's stock worth $72,061,766,000 after acquiring an additional 1,725,664 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Amazon.com by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant's stock worth $44,837,256,000 after acquiring an additional 5,015,380 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Amazon.com by 2.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 182,813,905 shares of the e-commerce giant's stock worth $40,107,544,000 after acquiring an additional 4,087,933 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Amazon.com during the 4th quarter worth $27,266,582,000. 72.20% of the stock is owned by institutional investors.

Amazon.com Stock Up 0.1%

Shares of NASDAQ:AMZN traded up $0.17 during trading on Tuesday, reaching $221.47. 37,075,084 shares of the stock traded hands, compared to its average volume of 44,927,371. The stock has a 50-day moving average of $219.94 and a two-hundred day moving average of $208.52. Amazon.com, Inc. has a 52-week low of $161.38 and a 52-week high of $242.52. 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 cap of $2.36 trillion, a P/E ratio of 33.76, a price-to-earnings-growth ratio of 1.50 and a beta of 1.31.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 EPS for the quarter, beating analysts' consensus estimates 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 quarter in the prior year, the company posted $1.26 earnings per share. The business's revenue for the quarter was up 13.3% on a year-over-year basis. As a group, sell-side analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of the stock in a transaction that occurred on Friday, July 11th. The shares were 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 in the company, valued at $201,816,902,603.28. This represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 25,101,037 shares of company stock worth $5,674,726,368 in the last 90 days. 10.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Wall Street Zen upgraded shares of Amazon.com from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Telsey Advisory Group lifted their target price on shares of Amazon.com from $235.00 to $265.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Tigress Financial lifted their target price on shares of Amazon.com from $290.00 to $305.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Citizens Jmp assumed coverage on shares of Amazon.com in a research report on Thursday, July 10th. They issued a "strong-buy" rating on the stock. Finally, Stifel Nicolaus lifted their target price on shares of Amazon.com from $245.00 to $262.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. One equities 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. According to MarketBeat, the company currently has a consensus 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.