Sky Investment Group LLC Acquires 1,620 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Sky Investment Group LLC grew its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,475 shares of the e-commerce giant's stock after acquiring an additional 1,620 shares during the period. Sky Investment Group LLC's holdings in Amazon.com were worth $6,369,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in AMZN. Castlekeep Investment Advisors LLC bought a new stake in Amazon.com in the 4th quarter valued at about $25,000. Prudent Man Investment Management Inc. acquired a new position in shares of Amazon.com during the fourth quarter valued at approximately $27,000. LSV Asset Management bought a new stake in Amazon.com during the fourth quarter worth approximately $35,000. Perritt Capital Management Inc raised its holdings in Amazon.com by 72.7% during the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock worth $42,000 after purchasing an additional 80 shares in the last quarter. Finally, Quattro Financial Advisors LLC lifted its position in Amazon.com by 23.8% in the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant's stock worth $51,000 after purchasing an additional 45 shares during the period. Institutional investors and hedge funds own 72.20% of the company's stock.

Insider Transactions at Amazon.com

In related news, CEO Andrew R. Jassy sold 19,872 shares of Amazon.com stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total value of $4,000,233.60. Following the sale, the chief executive officer owned 2,148,694 shares in the company, valued at $432,532,102.20. The trade was a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP David Zapolsky sold 13,570 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $202.41, for a total transaction of $2,746,703.70. Following the transaction, the senior vice president directly owned 47,030 shares in the company, valued at approximately $9,519,342.30. The trade was a 22.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,424,463 shares of company stock valued at $756,747,557. Company insiders own 10.80% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on AMZN shares. Benchmark restated a "buy" rating and set a $260.00 target price on shares of Amazon.com in a report on Friday, May 2nd. BNP Paribas raised Amazon.com from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $235.00 target price on shares of Amazon.com in a report on Friday, May 2nd. Morgan Stanley lowered their price objective on shares of Amazon.com from $280.00 to $245.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Finally, Mizuho decreased their price objective on Amazon.com from $285.00 to $255.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating, forty-five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Amazon.com currently has a consensus rating of "Moderate Buy" and a consensus target price of $246.23.

Amazon.com Stock Performance

NASDAQ:AMZN traded down $0.37 during trading hours on Wednesday, reaching $220.09. The stock had a trading volume of 19,224,702 shares, compared to its average volume of 41,992,910. The stock has a market cap of $2.34 trillion, a P/E ratio of 35.86, a price-to-earnings-growth ratio of 1.65 and a beta of 1.33. 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. The stock has a 50 day simple moving average of $204.25 and a 200 day simple moving average of $208.75.

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