RedJay Asset Management Inc. Purchases New Shares in Amazon.com, Inc. (NASDAQ:AMZN)

RedJay Asset Management Inc. purchased a new stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 33,000 shares of the e-commerce giant's stock, valued at approximately $6,279,000. Amazon.com comprises approximately 3.4% of RedJay Asset Management Inc.'s portfolio, making the stock its 6th biggest position.

A number of other institutional investors and hedge funds also recently bought and sold shares of AMZN. Tallon Kerry Patrick acquired a new stake in Amazon.com in the 4th quarter valued at about $800,000. LaFleur & Godfrey LLC boosted its holdings in shares of Amazon.com by 1.8% in the fourth quarter. LaFleur & Godfrey LLC now owns 49,407 shares of the e-commerce giant's stock worth $10,839,000 after buying an additional 860 shares during the period. Brighton Jones LLC boosted its holdings in shares of Amazon.com by 10.9% in the fourth quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant's stock worth $885,478,000 after buying an additional 397,007 shares during the period. Revolve Wealth Partners LLC boosted its holdings in shares of Amazon.com by 4.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant's stock worth $5,495,000 after buying an additional 986 shares during the period. Finally, Bank Pictet & Cie Europe AG boosted its holdings in shares of Amazon.com by 2.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant's stock worth $442,481,000 after buying an additional 54,987 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Price Performance

Shares of NASDAQ AMZN traded up $1.35 during midday trading on Monday, reaching $232.79. 26,233,111 shares of the company traded hands, compared to its average volume of 35,876,868. The firm has a market cap of $2.47 trillion, a PE ratio of 37.91, a PEG ratio of 1.72 and a beta of 1.33. The stock's 50-day simple moving average is $216.19 and its 200-day simple moving average is $208.82. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52. 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 (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.21. The company had revenue of $155.67 billion during the quarter, compared to analysts' expectations of $154.96 billion. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The business's revenue was up 8.6% on a year-over-year basis. During the same period last year, the business earned $0.98 earnings per share. As a group, equities analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of Amazon.com stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $224.81, for a total value of $960,666,409.97. Following the completion of the transaction, the insider directly owned 897,722,088 shares of the company's stock, valued at $201,816,902,603.28. The trade was a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 25,102,037 shares of company stock worth $5,674,871,223 over the last three months. 10.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AMZN shares. Benchmark reiterated a "buy" rating and issued a $260.00 target price on shares of Amazon.com in a report on Friday, May 2nd. 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 report on Friday, June 27th. Oppenheimer raised their target price on shares of Amazon.com from $215.00 to $250.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. Jefferies Financial Group raised their target price on shares of Amazon.com from $255.00 to $265.00 in a report on Wednesday, July 16th. Finally, Rosenblatt Securities raised their target price on shares of Amazon.com from $287.00 to $288.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating, forty-five have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $254.71.

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.