Amazon.com, Inc. (NASDAQ:AMZN) is Davis Capital Management’s 10th Largest Position

Davis Capital Management lowered its position in Amazon.com, Inc. (NASDAQ:AMZN) by 2.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,295 shares of the e-commerce giant’s stock after selling 302 shares during the quarter. Amazon.com comprises about 1.8% of Davis Capital Management’s holdings, making the stock its 10th biggest holding. Davis Capital Management’s holdings in Amazon.com were worth $2,044,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Amazon.com by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 771,086,427 shares of the e-commerce giant’s stock worth $117,158,872,000 after buying an additional 13,134,632 shares during the period. FMR LLC boosted its stake in Amazon.com by 7.7% during the third quarter. FMR LLC now owns 302,101,441 shares of the e-commerce giant’s stock worth $38,403,135,000 after buying an additional 21,649,871 shares during the period. Norges Bank purchased a new position in Amazon.com during the fourth quarter worth about $17,700,551,000. Northern Trust Corp boosted its stake in Amazon.com by 3.7% during the third quarter. Northern Trust Corp now owns 92,329,336 shares of the e-commerce giant’s stock worth $11,736,905,000 after buying an additional 3,260,411 shares during the period. Finally, Jennison Associates LLC boosted its stake in Amazon.com by 2.5% during the fourth quarter. Jennison Associates LLC now owns 56,371,051 shares of the e-commerce giant’s stock worth $8,565,017,000 after buying an additional 1,389,503 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Mizuho increased their target price on shares of Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Truist Financial increased their price target on shares of Amazon.com from $216.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. increased their price target on shares of Amazon.com from $225.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Monness Crespi & Hardt increased their price target on shares of Amazon.com from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, Wells Fargo & Company increased their price target on shares of Amazon.com from $217.00 to $234.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. One equities research analyst has 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’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $213.82.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $182.81 on Thursday. The firm’s fifty day moving average price is $182.78 and its 200 day moving average price is $170.96. Amazon.com, Inc. has a 1-year low of $118.35 and a 1-year high of $191.70. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 0.87. The firm has a market cap of $1.90 trillion, a price-to-earnings ratio of 51.21, a price-to-earnings-growth ratio of 1.32 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.15. Amazon.com had a return on equity of 19.86% and a net margin of 6.38%. The company had revenue of $143.31 billion during the quarter, compared to the consensus estimate of $142.65 billion. During the same quarter last year, the company earned $0.31 earnings per share. Amazon.com’s quarterly revenue was up 12.5% compared to the same quarter last year. On average, sell-side analysts expect that Amazon.com, Inc. will post 4.72 EPS for the current year.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $177.29, for a total value of $620,515.00. Following the completion of the sale, the chief executive officer now owns 523,253 shares of the company’s stock, valued at $92,767,524.37. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Jonathan Rubinstein sold 5,264 shares of Amazon.com stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $190.00, for a total transaction of $1,000,160.00. Following the completion of the transaction, the director now owns 104,400 shares of the company’s stock, valued at approximately $19,836,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $177.29, for a total value of $620,515.00. Following the transaction, the chief executive officer now directly owns 523,253 shares of the company’s stock, valued at approximately $92,767,524.37. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,338 shares of company stock valued at $11,894,344. 10.80% of the stock is owned by company insiders.

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.