Drake & Associates LLC Buys 1,804 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Drake & Associates LLC increased its stake in Amazon.com by 18.5% during the first quarter, holding a total of 11,554 shares valued at approximately $2.20 million.
• In the latest earnings report, Amazon reported an earnings per share (EPS) of $1.68, exceeding analyst expectations of $1.31, with revenues of $167.70 billion.
• Institutional investors currently hold 72.20% of Amazon's stock, reflecting a strong interest from various funds, including Norges Bank and GAMMA Investing LLC.

Drake & Associates LLC lifted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 18.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,554 shares of the e-commerce giant's stock after purchasing an additional 1,804 shares during the quarter. Amazon.com accounts for approximately 0.6% of Drake & Associates LLC's portfolio, making the stock its 21st largest holding. Drake & Associates LLC's holdings in Amazon.com were worth $2,198,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Amazon.com during the fourth quarter valued at $27,266,582,000. GAMMA Investing LLC boosted its position in shares of Amazon.com by 21,420.5% during the 1st quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant's stock valued at $5,754,425,000 after acquiring an additional 30,104,520 shares in the last quarter. Capital World Investors grew its position in Amazon.com by 36.8% during the 4th quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant's stock worth $14,416,078,000 after acquiring an additional 17,681,004 shares during the last quarter. Vanguard Group Inc. increased its position 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 worth $180,637,081,000 after purchasing an additional 17,635,391 shares during the period. Finally, Capital International Investors increased its stake in shares of Amazon.com by 26.5% in the 4th quarter. Capital International Investors now owns 57,268,523 shares of the e-commerce giant's stock valued at $12,564,961,000 after acquiring an additional 12,000,745 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Jeffrey P. Bezos sold 2,643,142 shares of the business's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $230.43, for a total value of $609,059,211.06. Following the transaction, the insider directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 25,099,537 shares of company stock valued at $5,674,394,548 over the last quarter. Company insiders own 9.70% of the company's stock.

Amazon.com Stock Down 8.3%

Shares of AMZN stock traded down $19.36 on Friday, hitting $214.75. The company's stock had a trading volume of 122,007,379 shares, compared to its average volume of 37,811,656. The firm's fifty day moving average price is $218.20 and its 200-day moving average price is $209.11. The stock has a market capitalization 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. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 0.84. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 EPS for the quarter, topping the consensus estimate of $1.31 by $0.37. The business had revenue of $167.70 billion during the quarter, compared to analysts' expectations of $161.80 billion. Amazon.com had a net margin of 10.54% and a return on equity of 24.90%. The firm's revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.26 earnings per share. Research analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on AMZN. Moffett Nathanson boosted their target price on Amazon.com from $250.00 to $253.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. JMP Securities restated a "market outperform" rating and issued a $285.00 price target on shares of Amazon.com in a research note on Friday. Roth Capital set a $250.00 price objective on shares of Amazon.com and gave the company a "buy" rating in a report on Tuesday, July 8th. Oppenheimer dropped their target price on Amazon.com from $250.00 to $245.00 and set an "outperform" rating for the company in a report on Friday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Amazon.com from $255.00 to $265.00 and gave the company an "overweight" rating in a research report on Friday. One investment analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Amazon.com has an average rating of "Buy" and an average price target of $262.45.

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.