Moran Wealth Management LLC Acquires 49,515 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Moran Wealth Management LLC raised its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 254.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,976 shares of the e-commerce giant's stock after buying an additional 49,515 shares during the period. Moran Wealth Management LLC's holdings in Amazon.com were worth $13,123,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMZN. Castlekeep Investment Advisors LLC acquired a new position in shares of Amazon.com during the fourth quarter worth $25,000. Prudent Man Investment Management Inc. bought a new stake in shares of Amazon.com in the fourth quarter worth $27,000. LSV Asset Management bought a new stake in shares of Amazon.com in the fourth quarter worth $35,000. Inlight Wealth Management LLC bought a new stake in shares of Amazon.com in the first quarter worth $40,000. Finally, Perritt Capital Management Inc increased its stake in shares of Amazon.com by 72.7% in the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock worth $42,000 after buying an additional 80 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Amazon.com

In other news, CEO Douglas J. Herrington sold 2,500 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $220.06, for a total transaction of $550,150.00. Following the sale, the chief executive officer owned 514,550 shares of the company's stock, valued at $113,231,873. This trade represents a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,442,187 shares of Amazon.com stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $225.89, for a total value of $551,665,621.43. Following the completion of the sale, the insider directly owned 895,279,901 shares in the company, valued at approximately $202,234,776,836.89. This represents a 0.27% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,602,037 shares of company stock worth $3,044,172,641. 9.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AMZN shares. Scotiabank dropped their price target on shares of Amazon.com from $306.00 to $250.00 and set a "sector outperform" rating for the company in a research note on Monday, April 21st. Evercore ISI lowered their target price on shares of Amazon.com from $270.00 to $260.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Barclays lowered their target price on shares of Amazon.com from $265.00 to $240.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Sanford C. Bernstein set a $235.00 target price on shares of Amazon.com and gave the company an "outperform" rating in a research note on Tuesday, July 1st. Finally, Wall Street Zen lowered shares of Amazon.com from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Three investment analysts have rated the stock with a hold rating, forty-five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Amazon.com currently has an average rating of "Moderate Buy" and a consensus price target of $250.35.

Amazon.com Trading Up 0.3%

AMZN traded up $0.77 during midday trading on Thursday, reaching $223.96. 16,809,429 shares of the company were exchanged, compared to its average volume of 42,011,129. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.05. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $242.52. The stock has a market capitalization of $2.38 trillion, a P/E ratio of 36.45, a PEG ratio of 1.69 and a beta of 1.33. The stock's 50-day simple moving average is $212.21 and its 200 day simple moving average is $208.60.

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

About Amazon.com

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.