Arcadia Investment Management Corp MI Has $14.11 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Arcadia Investment Management Corp MI reduced its stake in Amazon.com by 1.6%, owning 74,158 shares valued at approximately $14.1 million.
• Amazon's shares are currently trading at $211.65, down 1.4%, with a market capitalization of $2.25 trillion and a P/E ratio of 32.26.
• Recent analysts' reports have increased price targets for Amazon, with Deutsche Bank raising theirs from $230 to $266 and Cantor Fitzgerald from $260 to $280, indicating strong investor confidence.

Arcadia Investment Management Corp MI cut its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 1.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 74,158 shares of the e-commerce giant's stock after selling 1,223 shares during the period. Amazon.com accounts for about 2.6% of Arcadia Investment Management Corp MI's holdings, making the stock its 14th biggest position. Arcadia Investment Management Corp MI's holdings in Amazon.com were worth $14,109,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AMZN. Principal Securities Inc. lifted its holdings in Amazon.com by 0.7% in the first quarter. Principal Securities Inc. now owns 269,503 shares of the e-commerce giant's stock valued at $51,276,000 after acquiring an additional 1,876 shares during the period. Prodigy Asset Management LLC acquired a new position in shares of Amazon.com during the 1st quarter worth $202,000. Financial Symmetry Inc raised its stake in Amazon.com by 5.6% in the 1st quarter. Financial Symmetry Inc now owns 3,357 shares of the e-commerce giant's stock valued at $639,000 after purchasing an additional 178 shares during the last quarter. Linden Thomas Advisory Services LLC raised its stake in Amazon.com by 3.3% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 3,630 shares of the e-commerce giant's stock valued at $691,000 after purchasing an additional 115 shares during the last quarter. Finally, Greenleaf Trust raised its stake in Amazon.com by 0.5% in the 1st quarter. Greenleaf Trust now owns 509,088 shares of the e-commerce giant's stock valued at $96,859,000 after purchasing an additional 2,381 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Stock Up 3.9%

Amazon.com stock traded up $8.44 during mid-day trading on Wednesday, hitting $222.19. The company's stock had a trading volume of 54,656,017 shares, compared to its average volume of 45,179,059. The firm's 50 day moving average is $218.57 and its 200 day moving average is $208.96. The company has a market cap of $2.37 trillion, a PE ratio of 33.87, a price-to-earnings-growth ratio of 1.45 and a beta of 1.31. 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 52-week low of $161.38 and a 52-week high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (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 firm had revenue of $167.70 billion during the quarter, compared to the consensus estimate of $161.80 billion. During the same period in the prior year, the business earned $1.26 EPS. The business's revenue for the quarter was up 13.3% on a year-over-year basis. On average, analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Transactions at Amazon.com

In other news, insider Jeffrey P. Bezos sold 2,643,142 shares of the firm's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $230.43, for a total transaction of $609,059,211.06. Following the completion of the sale, the insider directly owned 883,779,901 shares of the company's stock, valued at $203,649,402,587.43. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $217.00, for a total value of $542,500.00. Following the sale, the chief executive officer directly owned 512,050 shares of the company's stock, valued at $111,114,850. This trade represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,102,037 shares of company stock valued at $5,674,937,048 over the last ninety days. Company insiders own 10.80% of the company's stock.

Analysts Set New Price Targets

AMZN has been the subject of several recent analyst reports. Citigroup lifted their price target on Amazon.com from $265.00 to $270.00 and gave the company a "buy" rating in a report on Friday, August 1st. Deutsche Bank Aktiengesellschaft upped their price target on Amazon.com from $230.00 to $266.00 in a report on Tuesday, July 22nd. Piper Sandler upped their price target on Amazon.com from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Pivotal Research upped their target price on Amazon.com from $260.00 to $285.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, HSBC upped their price target on Amazon.com from $240.00 to $256.00 in a research report on Tuesday, July 22nd. One investment analyst has rated the stock with a hold rating, forty-seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus 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.