Concurrent Investment Advisors LLC Has $78.16 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Concurrent Investment Advisors LLC raised its stake in Amazon.com by 41.9%, acquiring an additional 121,236 shares in the first quarter, bringing its total to 410,809 shares valued at approximately $78.16 million.
• Amazon.com reported earnings of $1.68 EPS for the last quarter, exceeding expectations and generating revenue of $167.70 billion, a 13.3% year-over-year increase.
• Insider Jeffrey P. Bezos sold over 4.27 million shares of Amazon stock for nearly $961 million, reducing his ownership by 0.47%.

Concurrent Investment Advisors LLC boosted its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 41.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 410,809 shares of the e-commerce giant's stock after purchasing an additional 121,236 shares during the quarter. Amazon.com makes up 1.9% of Concurrent Investment Advisors LLC's portfolio, making the stock its 6th biggest holding. Concurrent Investment Advisors LLC's holdings in Amazon.com were worth $78,160,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Amazon.com by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock valued at $180,637,081,000 after purchasing an additional 17,635,391 shares during the last quarter. FMR LLC lifted its holdings in 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 buying an additional 1,725,664 shares during the last quarter. Geode Capital Management LLC lifted its holdings in 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 buying an additional 5,015,380 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in 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 buying an additional 4,087,933 shares during the last quarter. Finally, Norges Bank bought a new position in Amazon.com during the 4th quarter worth approximately $27,266,582,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on AMZN shares. UBS Group reaffirmed a "buy" rating and set a $271.00 target price (up previously from $249.00) on shares of Amazon.com in a report on Monday, July 28th. Raymond James Financial reaffirmed an "outperform" rating and set a $195.00 target price (down previously from $275.00) on shares of Amazon.com in a report on Monday, April 21st. Piper Sandler increased their target price on Amazon.com from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Friday. DA Davidson raised their price target on Amazon.com from $230.00 to $265.00 and gave the stock a "buy" rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Amazon.com from $230.00 to $266.00 in a report on Tuesday, July 22nd. Two equities research analysts have rated the stock with a hold rating, forty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $260.85.

Amazon.com Price Performance

NASDAQ AMZN traded down $19.36 during trading on Friday, reaching $214.75. 122,007,379 shares of the company traded hands, compared to its average volume of 37,811,656. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.05. The stock's 50 day moving average price is $218.20 and its two-hundred day moving average price is $209.21. The company has a market cap of $2.28 trillion, a price-to-earnings ratio of 32.74, a P/E/G ratio of 1.59 and a beta of 1.31. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-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 for the quarter, beating analysts' consensus estimates of $1.31 by $0.37. The company had revenue of $167.70 billion for the quarter, compared to the consensus estimate of $161.80 billion. Amazon.com had a return on equity of 24.90% and a net margin of 10.54%. The company's quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.26 earnings per share. As a group, analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current year.

Insider Activity at Amazon.com

In other news, insider Jeffrey P. Bezos sold 4,273,237 shares of the business's stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $224.81, for a total value of $960,666,409.97. Following the transaction, the insider directly owned 897,722,088 shares of the company's stock, valued at $201,816,902,603.28. The trade was a 0.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 25,099,537 shares of company stock valued at $5,674,394,548. 9.70% of the stock is owned by insiders.

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.