Rossby Financial LCC Makes New $1.48 Million Investment in Amazon.com, Inc. (NASDAQ:AMZN)

Rossby Financial LCC bought a new position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 6,752 shares of the e-commerce giant's stock, valued at approximately $1,481,000. Amazon.com accounts for about 0.9% of Rossby Financial LCC's holdings, making the stock its 19th largest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Prudent Man Investment Management Inc. purchased a new stake in shares of Amazon.com in the 4th quarter valued at approximately $27,000. Accordant Advisory Group Inc boosted its stake in Amazon.com by 400.0% during the 4th 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 last quarter. LSV Asset Management bought a new stake in shares of Amazon.com during the 4th quarter worth about $35,000. Perritt Capital Management Inc increased its holdings in shares of Amazon.com by 72.7% in the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock valued at $42,000 after purchasing an additional 80 shares during the period. Finally, Compass Planning Associates Inc acquired a new stake in shares of Amazon.com in the fourth quarter worth $51,000. Institutional investors own 72.20% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Amazon.com from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Scotiabank lowered their target price on shares of Amazon.com from $306.00 to $250.00 and set a "sector outperform" rating for the company in a report on Monday, April 21st. Piper Sandler reaffirmed an "overweight" rating and issued a $212.00 target price (down from $215.00) on shares of Amazon.com in a research note on Friday, May 2nd. Barclays cut their price target on shares of Amazon.com from $265.00 to $240.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $220.00 price target on shares of Amazon.com in a research report on Friday, May 2nd. Four 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, Amazon.com has an average rating of "Moderate Buy" and a consensus price target of $244.09.

Amazon.com Stock Performance

Shares of AMZN stock traded up $2.73 during mid-day trading on Tuesday, hitting $211.37. 55,966,898 shares of the stock were exchanged, compared to its average volume of 41,981,128. 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, Inc. has a 12-month low of $151.61 and a 12-month high of $242.52. The stock has a market capitalization of $2.24 trillion, a price-to-earnings ratio of 38.22, a P/E/G ratio of 1.50 and a beta of 1.30. The stock's fifty day simple moving average is $188.50 and its two-hundred day simple moving average is $208.25.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued 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 business had revenue of $155.67 billion for 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%. The company's revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.98 EPS. On average, analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current year.

Insider Activity

In other Amazon.com 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 completion of the sale, the vice president now owns 119,780 shares in the company, valued at approximately $26,647,456.60. This trade represents a 6.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Douglas J. Herrington sold 2,500 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total transaction of $469,975.00. Following the sale, the chief executive officer now owns 509,474 shares in the company, valued at approximately $95,776,017.26. This trade represents a 0.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 107,298 shares of company stock worth $23,818,478 in the last 90 days. Corporate insiders own 9.70% 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.