PVG Asset Management Corp Makes New Investment in Amazon.com, Inc. (NASDAQ:AMZN)

PVG Asset Management Corp acquired a new position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,386 shares of the e-commerce giant's stock, valued at approximately $743,000. Amazon.com makes up about 3.5% of PVG Asset Management Corp's investment portfolio, making the stock its 8th largest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Perennial Advisors LLC bought a new stake in Amazon.com in the fourth quarter worth about $18,750,000. Vermillion Wealth Management Inc. purchased a new stake in shares of Amazon.com during the 4th quarter worth approximately $1,159,000. Mackenzie Financial Corp raised its holdings in shares of Amazon.com by 28.1% in the 4th quarter. Mackenzie Financial Corp now owns 6,310,367 shares of the e-commerce giant's stock worth $1,384,431,000 after purchasing an additional 1,384,131 shares during the period. Griffith & Werner Inc. purchased a new position in Amazon.com in the fourth quarter valued at approximately $6,700,000. Finally, Sunbeam Capital Management LLC purchased a new stake in Amazon.com in the 4th quarter worth about $212,000. Hedge funds and other institutional investors own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AMZN shares. Westpark Capital reaffirmed a "buy" rating and set a $280.00 price objective on shares of Amazon.com in a report on Friday, May 2nd. Barclays lowered their price target on shares of Amazon.com from $265.00 to $240.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Oppenheimer cut their price objective on shares of Amazon.com from $260.00 to $220.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Bank of America lifted their price objective on shares of Amazon.com from $230.00 to $248.00 and gave the company a "buy" rating in a research note on Monday, June 2nd. Finally, Wedbush restated an "outperform" rating and set a $235.00 target price (up previously from $225.00) on shares of Amazon.com in a research report on Friday, May 2nd. Four analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $244.89.

Amazon.com Price Performance

Shares of Amazon.com stock traded up $3.41 during trading on Monday, hitting $216.98. 38,032,098 shares of the stock traded hands, compared to its average volume of 42,143,807. The stock has a market cap of $2.30 trillion, a price-to-earnings ratio of 39.24, a PEG ratio of 1.50 and a beta of 1.33. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52. The firm's fifty day moving average is $191.84 and its 200-day moving average is $208.82.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.21. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. The business had revenue of $155.67 billion during the quarter, compared to analyst estimates of $154.96 billion. During the same quarter in the prior year, the firm earned $0.98 earnings per share. Amazon.com's revenue for the quarter was up 8.6% on a year-over-year basis. Research analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Activity

In other news, CEO Douglas J. Herrington sold 2,500 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $190.67, for a total value of $476,675.00. Following the completion of the sale, the chief executive officer now owns 506,974 shares of the company's stock, valued at approximately $96,664,732.58. The trade was a 0.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Shelley Reynolds sold 2,695 shares of the firm's stock in a transaction that occurred 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 transaction, the vice president now owns 119,780 shares in the company, valued at approximately $24,050,626.20. The trade was a 2.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 102,037 shares of company stock valued at $20,531,075. 9.70% of the stock is currently owned by insiders.

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.