Migdal Insurance & Financial Holdings Ltd. Purchases 221,000 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Migdal Insurance & Financial Holdings Ltd. increased its stake in Amazon.com, acquiring an additional 221,000 shares, bringing its total holdings to approximately $247.5 million.
• Insider sales included Jeff Bezos selling over 2.6 million shares for more than $609 million, reducing his ownership by 0.3%.
• Analysts continue to show optimism for Amazon, with several upgrading their price targets and a consensus rating of "Buy" with an average price target of $262.87.

Migdal Insurance & Financial Holdings Ltd. lifted its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 20.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,300,900 shares of the e-commerce giant's stock after acquiring an additional 221,000 shares during the quarter. Amazon.com makes up 3.5% of Migdal Insurance & Financial Holdings Ltd.'s portfolio, making the stock its 6th biggest holding. Migdal Insurance & Financial Holdings Ltd.'s holdings in Amazon.com were worth $247,509,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Castlekeep Investment Advisors LLC bought a new stake in Amazon.com during the fourth quarter valued at about $25,000. Prudent Man Investment Management Inc. bought a new stake in Amazon.com during the fourth quarter valued at about $27,000. LSV Asset Management bought a new stake in Amazon.com during the fourth quarter valued at about $35,000. Cooksen Wealth LLC bought a new stake in Amazon.com during the first quarter valued at about $36,000. Finally, Inlight Wealth Management LLC bought a new stake in Amazon.com during the first quarter valued at about $40,000. 72.20% of the stock is currently owned by institutional investors.

Amazon.com Stock Up 0.0%

Shares of NASDAQ:AMZN traded up $0.05 during midday trading on Friday, reaching $231.03. 39,600,434 shares of the company were exchanged, compared to its average volume of 47,994,872. Amazon.com, Inc. has a fifty-two week low of $161.38 and a fifty-two week high of $242.52. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $221.41 and a two-hundred day simple moving average of $208.64. The firm has a market cap of $2.46 trillion, a PE ratio of 35.22, a P/E/G ratio of 1.56 and a beta of 1.31.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $161.80 billion. During the same period last year, the business posted $1.26 earnings per share. The firm's quarterly revenue was up 13.3% on a year-over-year basis. As a group, sell-side analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,643,142 shares of Amazon.com stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $230.43, for a total value of $609,059,211.06. Following the sale, the insider directly owned 883,779,901 shares in the company, valued at approximately $203,649,402,587.43. The trade was a 0.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction on Friday, August 1st. The shares were sold at an average price of $217.00, for a total transaction of $542,500.00. Following the completion of the sale, the chief executive officer owned 512,050 shares in the company, valued at $111,114,850. 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 25,096,253 shares of company stock worth $5,673,745,409 over the last quarter. Company insiders own 9.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. HSBC upped their price target on shares of Amazon.com from $240.00 to $256.00 in a report on Tuesday, July 22nd. Moffett Nathanson increased their target price on shares of Amazon.com from $250.00 to $253.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. Telsey Advisory Group reiterated an "outperform" rating and issued a $265.00 target price on shares of Amazon.com in a research note on Wednesday. The Goldman Sachs Group reiterated a "buy" rating on shares of Amazon.com in a research note on Friday, August 1st. Finally, BNP Paribas Exane upgraded shares of Amazon.com from a "neutral" rating to an "outperform" rating and set a $254.00 target price for the company in a research note on Friday, June 27th. One 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $262.87.

Amazon.com Company 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.