Coastline Trust Co Has $24.76 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Coastline Trust Co increased its stake in Amazon.com, Inc. by 1.8% in Q1, owning 130,140 shares valued at $24.76 million, making it the 7th largest position in their portfolio.
• Analyst ratings for Amazon show a consensus of 45 buy ratings and an increasing target price averaging $254.33, indicating ongoing positive market sentiment.
• Insider trading activity revealed that Jeffrey Bezos sold over 2.6 million shares for approximately $609 million, decreasing his ownership by 0.30%.

Coastline Trust Co raised its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 130,140 shares of the e-commerce giant's stock after purchasing an additional 2,264 shares during the quarter. Amazon.com accounts for 3.1% of Coastline Trust Co's investment portfolio, making the stock its 7th biggest holding. Coastline Trust Co's holdings in Amazon.com were worth $24,760,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of AMZN. Tallon Kerry Patrick acquired a new stake in shares of Amazon.com during the 4th quarter valued at about $800,000. LaFleur & Godfrey LLC increased its stake in shares of Amazon.com by 1.8% during the 4th quarter. LaFleur & Godfrey LLC now owns 49,407 shares of the e-commerce giant's stock worth $10,839,000 after purchasing an additional 860 shares during the last quarter. Brighton Jones LLC raised its holdings in shares of Amazon.com by 10.9% during the 4th quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant's stock valued at $885,478,000 after purchasing an additional 397,007 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Amazon.com by 4.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant's stock valued at $5,495,000 after purchasing an additional 986 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG increased its position in Amazon.com by 2.8% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant's stock worth $442,481,000 after buying an additional 54,987 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Robert W. Baird boosted their price objective on shares of Amazon.com from $220.00 to $244.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Moffett Nathanson increased their price target on shares of Amazon.com from $250.00 to $253.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. BNP Paribas raised Amazon.com from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. Evercore ISI decreased their price target on shares of Amazon.com from $270.00 to $260.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Finally, Truist Financial raised their price target on shares of Amazon.com from $226.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Three equities research analysts have rated the stock with a hold rating, forty-five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $255.52.

Insider Transactions at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,643,142 shares of Amazon.com 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 transaction, the insider owned 883,779,901 shares of the company's stock, valued at $203,649,402,587.43. The trade was a 0.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders sold 25,102,037 shares of company stock worth $5,674,871,223. Corporate insiders own 9.70% of the company's stock.

Amazon.com Stock Performance

Amazon.com stock traded down $0.82 during midday trading on Wednesday, reaching $230.19. The stock had a trading volume of 32,258,949 shares, compared to its average volume of 33,970,456. The firm has a market capitalization of $2.44 trillion, a PE ratio of 37.49, a P/E/G ratio of 1.71 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 quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.17. The firm's 50-day moving average price is $217.31 and its 200 day moving average price is $209.12.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.21. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The business had revenue of $155.67 billion for the quarter, compared to analysts' expectations of $154.96 billion. During the same quarter in the previous year, the firm posted $0.98 EPS. The business's revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, research analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Amazon.com 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.