Brown Financial Advisory Acquires Shares of 1,193 Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Brown Financial Advisory acquired 1,193 shares of Amazon.com, Inc. for approximately $227,000 in the first quarter, as per their recent SEC filing.
• Amazon reported better-than-expected earnings, with $1.68 EPS for the quarter, surpassing analyst estimates of $1.31, and achieved a 13.3% revenue increase year-over-year.
• Multiple analysts have raised their price targets for Amazon, with DA Davidson and Telsey Advisory Group setting new targets at $265.00, indicating strong bullish sentiment among equity research firms.

Brown Financial Advisory acquired a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,193 shares of the e-commerce giant's stock, valued at approximately $227,000.

Other hedge funds have also recently made changes to their positions in the company. Western Wealth Management LLC grew its holdings in shares of Amazon.com by 0.9% during the first quarter. Western Wealth Management LLC now owns 140,122 shares of the e-commerce giant's stock valued at $26,660,000 after buying an additional 1,297 shares during the last quarter. Momentous Wealth Management Inc. purchased a new position in Amazon.com during the fourth quarter worth about $749,000. Barnes Dennig Private Wealth Management LLC purchased a new position in Amazon.com during the first quarter worth about $514,000. Segall Bryant & Hamill LLC boosted its holdings in Amazon.com by 14.3% during the fourth quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant's stock worth $69,572,000 after purchasing an additional 39,696 shares during the last quarter. Finally, Bearing Point Capital LLC purchased a new position in Amazon.com during the fourth quarter worth about $12,014,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Trading Down 8.3%

AMZN traded down $19.36 during trading on Friday, hitting $214.75. 122,007,379 shares of the stock traded hands, compared to its average volume of 43,924,596. The firm has a market capitalization of $2.28 trillion, a P/E ratio of 32.74, a price-to-earnings-growth ratio of 1.57 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. The firm has a 50-day moving average of $218.20 and a 200 day moving average of $209.11. Amazon.com, Inc. has a 12-month low of $151.61 and a 12-month high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.37. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The business had revenue of $167.70 billion during the quarter, compared to analysts' expectations of $161.80 billion. During the same quarter in the prior year, the company posted $1.26 EPS. The firm's revenue for the quarter was up 13.3% compared to the same quarter last year. Equities research analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current year.

Analyst Upgrades and Downgrades

AMZN has been the topic of several analyst reports. Wall Street Zen upgraded shares of Amazon.com from a "hold" rating to a "buy" rating in a report on Saturday. Evercore ISI cut their price target on shares of Amazon.com from $270.00 to $260.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Mizuho cut their price target on shares of Amazon.com from $285.00 to $255.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. The Goldman Sachs Group reiterated a "buy" rating on shares of Amazon.com in a research note on Friday. Finally, BNP Paribas upgraded shares of Amazon.com from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. One investment analyst has rated the stock with a hold rating, forty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $262.45.

Insider Buying and Selling

In other Amazon.com news, insider Jeffrey P. Bezos sold 4,273,237 shares of the company's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $224.81, for a total value of $960,666,409.97. Following the completion of the transaction, the insider directly owned 897,722,088 shares in the company, valued at approximately $201,816,902,603.28. This represents a 0.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have sold 25,099,537 shares of company stock valued at $5,674,394,548. 10.80% of the stock is currently owned by corporate 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.