Potomac Fund Management Inc. ADV Acquires Shares of 3,663 Amazon.com, Inc. (NASDAQ:AMZN)

Potomac Fund Management Inc. ADV bought a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,663 shares of the e-commerce giant's stock, valued at approximately $804,000.

Several other hedge funds have also made changes to their positions in AMZN. Vanguard Group Inc. lifted its stake in shares of Amazon.com by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock valued at $180,637,081,000 after purchasing an additional 17,635,391 shares during the last quarter. State Street Corp lifted its holdings in shares of Amazon.com by 3.3% in the 3rd quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant's stock worth $66,926,008,000 after acquiring an additional 11,370,309 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Amazon.com by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant's stock worth $44,837,256,000 after purchasing an additional 5,015,380 shares during the period. Norges Bank acquired a new stake in Amazon.com in the 4th quarter valued at approximately $27,266,582,000. Finally, Bank of New York Mellon Corp raised its position in Amazon.com by 0.8% in the fourth quarter. Bank of New York Mellon Corp now owns 67,092,427 shares of the e-commerce giant's stock valued at $14,719,407,000 after purchasing an additional 545,292 shares during the period. Hedge funds and other institutional investors own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

AMZN has been the topic of several research reports. Citizens Jmp decreased their target price on Amazon.com from $285.00 to $240.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Citigroup cut their target price on shares of Amazon.com from $273.00 to $225.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Bank of America dropped their price target on shares of Amazon.com from $257.00 to $225.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Mizuho lowered their target price on Amazon.com from $285.00 to $255.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $220.00 price target on shares of Amazon.com in a research report on Friday. Three research 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $243.55.

Insiders Place Their Bets

In other news, SVP David Zapolsky sold 19,212 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $217.50, for a total value of $4,178,610.00. Following the sale, the senior vice president now owns 49,950 shares of the company's stock, valued at approximately $10,864,125. The trade was a 27.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas J. Herrington sold 27,500 shares of the firm's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $230.27, for a total value of $6,332,425.00. Following the transaction, the chief executive officer now directly owns 497,067 shares of the company's stock, valued at $114,459,618.09. This represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,798 shares of company stock worth $23,341,803. 9.70% of the stock is owned by company insiders.

Amazon.com Stock Down 1.2 %

Shares of Amazon.com stock traded down $2.32 during trading on Monday, reaching $187.66. The company had a trading volume of 7,036,173 shares, compared to its average volume of 46,105,578. The firm's fifty day moving average is $190.48 and its 200-day moving average is $208.06. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The company has a market cap of $1.99 trillion, a price-to-earnings ratio of 33.97, a price-to-earnings-growth ratio of 1.50 and a beta of 1.30. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06.

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 for the quarter, beating the consensus estimate of $1.38 by $0.21. The firm had revenue of $155.67 billion for the quarter, compared to the consensus estimate of $154.96 billion. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. Amazon.com's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $0.98 EPS. On average, analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current year.

Amazon.com 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.