Miracle Mile Advisors LLC Purchases 1,250 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Miracle Mile Advisors LLC grew its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 0.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 305,819 shares of the e-commerce giant's stock after acquiring an additional 1,250 shares during the quarter. Amazon.com comprises 1.2% of Miracle Mile Advisors LLC's holdings, making the stock its 24th largest holding. Miracle Mile Advisors LLC's holdings in Amazon.com were worth $58,185,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tallon Kerry Patrick purchased a new position in shares of Amazon.com during the fourth quarter valued at approximately $800,000. Capital & Planning LLC lifted its position in shares of Amazon.com by 72.1% during the 4th quarter. Capital & Planning LLC now owns 3,902 shares of the e-commerce giant's stock valued at $856,000 after buying an additional 1,635 shares during the last quarter. LaFleur & Godfrey LLC raised 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 valued at $10,839,000 after purchasing an additional 860 shares during the period. Brighton Jones LLC raised its stake 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 during the period. Finally, Union Bancaire Privee UBP SA bought a new stake in Amazon.com during the fourth quarter valued at approximately $301,650,000. Institutional investors own 72.20% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on AMZN shares. BNP Paribas upgraded shares of Amazon.com to a "hold" rating in a research report on Wednesday, April 30th. Morgan Stanley dropped their price target on Amazon.com from $280.00 to $245.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Wall Street Zen lowered Amazon.com from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Piper Sandler restated an "overweight" rating and set a $212.00 price target (down from $215.00) on shares of Amazon.com in a report on Friday, May 2nd. Finally, Telsey Advisory Group reiterated an "outperform" rating and issued a $235.00 price objective on shares of Amazon.com in a report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $245.53.

Insider Buying and Selling at Amazon.com

In related news, CEO Douglas J. Herrington sold 2,500 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $190.67, for a total transaction of $476,675.00. Following the completion of the sale, the chief executive officer now directly owns 506,974 shares in the company, valued at $96,664,732.58. This represents a 0.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Shelley Reynolds sold 2,695 shares of the company's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $200.79, for a total value of $541,129.05. Following the sale, the vice president now owns 119,780 shares of the company's stock, valued at $24,050,626.20. This trade represents a 2.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 102,037 shares of company stock valued at $20,531,075 in the last quarter. 9.70% of the stock is owned by insiders.

Amazon.com Stock Down 1.3%

NASDAQ AMZN opened at $209.69 on Friday. The stock's 50 day moving average is $198.41 and its 200 day moving average is $209.25. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52. The stock has a market cap of $2.23 trillion, a PE ratio of 34.15, a P/E/G ratio of 1.59 and a beta of 1.33.

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

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