Amazon.com, Inc. (NASDAQ:AMZN) is Main Street Research LLC's 6th Largest Position

Key Points

• Main Street Research LLC increased its holdings in Amazon.com by 1.8% in Q1, owning 312,450 shares valued at approximately $59.4 million, making it the firm's 6th largest position.
• Insider Jeffrey P. Bezos sold over 2.6 million shares of Amazon stock for approximately $609 million, reducing his ownership by 0.30% while retaining a significant stake of 883.8 million shares.
• Analysts have set various target prices for Amazon.com shares, with a consensus target of $262.45, reflecting an overall positive outlook, as 47 out of 50 analysts rated the stock as "buy".

Main Street Research LLC increased its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 312,450 shares of the e-commerce giant's stock after purchasing an additional 5,502 shares during the period. Amazon.com makes up approximately 3.9% of Main Street Research LLC's portfolio, making the stock its 6th biggest holding. Main Street Research LLC's holdings in Amazon.com were worth $59,447,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake 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 acquiring an additional 17,635,391 shares during the period. FMR LLC raised its holdings in Amazon.com by 0.5% in the fourth quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant's stock worth $72,061,766,000 after purchasing an additional 1,725,664 shares in the last quarter. Geode Capital Management LLC raised its holdings in Amazon.com by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant's stock worth $44,837,256,000 after purchasing an additional 5,015,380 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Amazon.com by 2.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 182,813,905 shares of the e-commerce giant's stock worth $40,107,544,000 after purchasing an additional 4,087,933 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Amazon.com during the fourth quarter valued at $27,266,582,000. 72.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AMZN shares. Needham & Company LLC reaffirmed a "buy" rating and set a $265.00 price target on shares of Amazon.com in a report on Friday, August 1st. Cowen restated a "buy" rating on shares of Amazon.com in a research note on Friday, August 1st. Piper Sandler boosted their price objective on Amazon.com from $250.00 to $255.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Canaccord Genuity Group reiterated a "buy" rating and set a $280.00 target price on shares of Amazon.com in a research report on Friday, August 1st. Finally, Tigress Financial upped their price target on Amazon.com from $290.00 to $305.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $262.45.

Insiders Place Their Bets

In other news, CEO Douglas J. Herrington sold 2,500 shares of the firm's stock in a transaction on Friday, August 1st. The shares were 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 in the company, valued at approximately $111,114,850. This trade represents a 0.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey P. Bezos sold 2,643,142 shares of the firm's stock in a transaction on Thursday, July 24th. The shares were 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 owned 883,779,901 shares in the company, valued at $203,649,402,587.43. The trade was a 0.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,102,037 shares of company stock worth $5,674,937,048 over the last 90 days. Company insiders own 10.80% of the company's stock.

Amazon.com Trading Up 3.9%

Shares of NASDAQ:AMZN traded up $8.44 during mid-day trading on Wednesday, reaching $222.19. 54,656,017 shares of the company were exchanged, compared to its average volume of 45,179,059. 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 market cap of $2.37 trillion, a price-to-earnings ratio of 33.87, a P/E/G ratio of 1.45 and a beta of 1.31. The firm's 50-day simple moving average is $218.57 and its 200 day simple moving average is $208.96. Amazon.com, Inc. has a 1 year low of $161.38 and a 1 year high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its earnings results 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. The firm had revenue of $167.70 billion for the quarter, compared to analyst estimates of $161.80 billion. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%. Amazon.com's revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.26 EPS. Equities research analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current 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.