Beacon Financial Group Purchases 6,946 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Beacon Financial Group grew its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 29.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 30,765 shares of the e-commerce giant's stock after buying an additional 6,946 shares during the quarter. Beacon Financial Group's holdings in Amazon.com were worth $5,853,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in AMZN. Prudent Man Investment Management Inc. acquired a new stake in shares of Amazon.com in the 4th quarter valued at $27,000. Accordant Advisory Group Inc raised its stake in Amazon.com by 400.0% in the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant's stock valued at $27,000 after buying an additional 100 shares in the last quarter. LSV Asset Management purchased a new stake in Amazon.com during the fourth quarter worth approximately $35,000. Perritt Capital Management Inc boosted its position in shares of Amazon.com by 72.7% in the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock valued at $42,000 after purchasing an additional 80 shares during the period. Finally, Compass Planning Associates Inc acquired a new position in shares of Amazon.com in the 4th quarter valued at $51,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on AMZN. Evercore ISI cut their price target on Amazon.com from $270.00 to $260.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Raymond James Financial restated an "outperform" rating and set a $195.00 price objective (down previously from $275.00) on shares of Amazon.com in a research report on Monday, April 21st. Barclays cut their price target on shares of Amazon.com from $265.00 to $240.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Wells Fargo & Company dropped their target price on shares of Amazon.com from $207.00 to $203.00 and set an "equal weight" rating for the company in a report on Tuesday, February 25th. Finally, Cantor Fitzgerald lifted their price target on Amazon.com from $230.00 to $240.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and forty-four have given a buy rating to the stock. According to data from MarketBeat, Amazon.com currently has a consensus rating of "Moderate Buy" and an average target price of $245.53.

Insider Transactions at Amazon.com

In related news, Director Keith Brian Alexander sold 1,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $210.68, for a total transaction of $210,680.00. Following the completion of the sale, the director now directly owns 5,465 shares in the company, valued at approximately $1,151,366.20. This trade represents a 15.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas J. Herrington sold 2,500 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total transaction of $469,975.00. Following the completion of the transaction, the chief executive officer now owns 509,474 shares in the company, valued at $95,776,017.26. The trade was a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 102,037 shares of company stock valued at $20,531,075 over the last quarter. Company insiders own 9.70% of the company's stock.

Amazon.com Price Performance

Shares of AMZN stock traded down $3.66 during midday trading on Friday, reaching $208.86. 38,710,132 shares of the company were exchanged, compared to its average volume of 42,159,199. The company's 50 day moving average price is $197.91 and its two-hundred day moving average price is $209.34. The company has a market cap of $2.22 trillion, a P/E ratio of 34.02, a PEG ratio of 1.61 and a beta of 1.33. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52. 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 (NASDAQ:AMZN - Get Free Report) last released its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.21. The firm had revenue of $155.67 billion during the quarter, compared to the consensus estimate of $154.96 billion. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 earnings per share. On average, sell-side analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

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.