Promus Capital LLC Makes New $1.65 Million Investment in Amazon.com, Inc. (NASDAQ:AMZN)

Promus Capital LLC acquired a new stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,506 shares of the e-commerce giant's stock, valued at approximately $1,647,000. Amazon.com makes up about 1.6% of Promus Capital LLC's holdings, making the stock its 13th biggest position.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. AMF Tjanstepension AB increased its holdings in Amazon.com by 44.3% during the 3rd quarter. AMF Tjanstepension AB now owns 2,641,401 shares of the e-commerce giant's stock worth $492,172,000 after purchasing an additional 811,425 shares during the period. Swedbank AB grew its position in shares of Amazon.com by 1.4% during the third quarter. Swedbank AB now owns 13,335,826 shares of the e-commerce giant's stock worth $2,484,864,000 after buying an additional 183,610 shares in the last quarter. Sassicaia Capital Advisers LLC purchased a new stake in shares of Amazon.com during the third quarter worth approximately $279,000. Howard Capital Management Group LLC raised its holdings in Amazon.com by 0.3% in the third quarter. Howard Capital Management Group LLC now owns 356,539 shares of the e-commerce giant's stock valued at $66,434,000 after acquiring an additional 897 shares in the last quarter. Finally, Meridian Management Co. lifted its stake in Amazon.com by 27.6% in the third quarter. Meridian Management Co. now owns 33,460 shares of the e-commerce giant's stock worth $6,235,000 after acquiring an additional 7,246 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AMZN. Telsey Advisory Group reissued an "outperform" rating and issued a $275.00 price objective on shares of Amazon.com in a research report on Friday, February 7th. UBS Group increased their target price on Amazon.com from $230.00 to $264.00 and gave the company a "buy" rating in a report on Monday, December 16th. Wells Fargo & Company decreased their price target on Amazon.com from $207.00 to $203.00 and set an "equal weight" rating for the company in a report on Tuesday, February 25th. Scotiabank upped their price objective on Amazon.com from $246.00 to $306.00 and gave the stock a "sector outperform" rating in a research report on Friday, January 24th. Finally, The Goldman Sachs Group raised their target price on Amazon.com from $240.00 to $255.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Two research analysts have rated the stock with a hold rating, forty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $258.19.

Amazon.com Price Performance

Amazon.com stock traded down $9.88 during midday trading on Thursday, reaching $181.22. The company's stock had a trading volume of 68,052,878 shares, compared to its average volume of 41,549,875. The firm has a market capitalization of $1.92 trillion, a PE ratio of 32.77, a P/E/G ratio of 1.50 and a beta of 1.39. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The stock's 50 day simple moving average is $205.37 and its 200 day simple moving average is $208.47. 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 announced its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, beating the consensus estimate of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. On average, equities research analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Activity

In related news, VP Shelley Reynolds sold 8,833 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $222.47, for a total value of $1,965,077.51. Following the sale, the vice president now directly owns 119,780 shares of the company's stock, valued at approximately $26,647,456.60. This represents a 6.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Douglas J. Herrington sold 5,501 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $228.44, for a total transaction of $1,256,648.44. Following the transaction, the chief executive officer now owns 505,318 shares of the company's stock, valued at $115,434,843.92. This trade represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 104,798 shares of company stock worth $23,341,803. Company insiders own 10.80% of the company's stock.

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.