Summit Investment Advisors Inc. Raises Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Summit Investment Advisors Inc. raised its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 307,962 shares of the e-commerce giant's stock after buying an additional 7,771 shares during the period. Amazon.com comprises about 60.2% of Summit Investment Advisors Inc.'s holdings, making the stock its 4th largest position. Summit Investment Advisors Inc.'s holdings in Amazon.com were worth $67,564,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Accordant Advisory Group Inc boosted its holdings in shares of Amazon.com by 400.0% in the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant's stock valued at $27,000 after acquiring an additional 100 shares during the period. Prudent Man Investment Management Inc. acquired a new stake in shares of Amazon.com in the fourth quarter valued at approximately $27,000. LSV Asset Management acquired a new stake in shares of Amazon.com in the fourth quarter valued at approximately $35,000. Perritt Capital Management Inc boosted its holdings 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 valued at $42,000 after acquiring an additional 80 shares during the period. Finally, Quattro Financial Advisors LLC boosted its holdings in shares of Amazon.com by 23.8% in the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant's stock valued at $51,000 after acquiring an additional 45 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Stock Performance

Amazon.com stock traded down $1.77 during midday trading on Friday, reaching $203.93. 51,641,602 shares of the stock traded hands, compared to its average volume of 42,021,406. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. The firm has a fifty day moving average price of $190.57 and a two-hundred day moving average price of $208.66. The firm has a market cap of $2.16 trillion, a price-to-earnings ratio of 36.88, a PEG ratio of 1.50 and a beta of 1.30. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its earnings results 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 firm had revenue of $155.67 billion during the quarter, compared to analyst estimates of $154.96 billion. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. Amazon.com's revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 EPS. On average, equities research analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on AMZN. Mizuho lowered their price target on Amazon.com from $285.00 to $255.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Rosenblatt Securities lifted their price target on shares of Amazon.com from $287.00 to $288.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft cut their price objective on Amazon.com from $287.00 to $206.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Wells Fargo & Company lowered their price target on shares of Amazon.com from $207.00 to $203.00 and set an "equal weight" rating for the company in a report on Tuesday, February 25th. Finally, Stifel Nicolaus dropped their target price on Amazon.com from $248.00 to $245.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and forty-four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $244.09.

Insider Buying and Selling at Amazon.com

In other news, Director Keith Brian Alexander sold 1,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $210.68, for a total value of $210,680.00. Following the completion of the sale, the director now directly owns 5,465 shares of the company's stock, valued at approximately $1,151,366.20. This represents a 15.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP David Zapolsky sold 13,570 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $202.41, for a total transaction of $2,746,703.70. Following the completion of the sale, the senior vice president now directly owns 47,030 shares of the company's stock, valued at approximately $9,519,342.30. This represents a 22.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 99,537 shares of company stock valued at $20,018,625 in the last ninety days. Company insiders own 9.70% of the company's stock.

Amazon.com Company 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.