Mainsail Asset Management LLC Raises Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Mainsail Asset Management LLC raised its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 15.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,533 shares of the e-commerce giant’s stock after buying an additional 1,013 shares during the period. Amazon.com makes up approximately 1.1% of Mainsail Asset Management LLC’s holdings, making the stock its 12th largest holding. Mainsail Asset Management LLC’s holdings in Amazon.com were worth $1,359,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Pinnacle Wealth Planning Services Inc. increased its stake in shares of Amazon.com by 7.6% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 55,955 shares of the e-commerce giant’s stock worth $7,113,000 after purchasing an additional 3,970 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of Amazon.com by 5.3% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 570,749 shares of the e-commerce giant’s stock worth $72,554,000 after purchasing an additional 28,826 shares in the last quarter. Cidel Asset Management Inc. increased its stake in shares of Amazon.com by 12.0% during the 3rd quarter. Cidel Asset Management Inc. now owns 9,314 shares of the e-commerce giant’s stock worth $1,184,000 after purchasing an additional 1,000 shares in the last quarter. Pekin Hardy Strauss Inc. increased its stake in shares of Amazon.com by 1.2% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 21,928 shares of the e-commerce giant’s stock worth $2,787,000 after purchasing an additional 255 shares in the last quarter. Finally, Newman Dignan & Sheerar Inc. increased its stake in shares of Amazon.com by 6.2% during the 3rd quarter. Newman Dignan & Sheerar Inc. now owns 23,864 shares of the e-commerce giant’s stock worth $3,034,000 after purchasing an additional 1,389 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $186.10 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. Amazon.com, Inc. has a fifty-two week low of $118.35 and a fifty-two week high of $191.70. The firm has a 50-day simple moving average of $182.72 and a 200 day simple moving average of $171.06. The company has a market cap of $1.94 trillion, a PE ratio of 52.13, a P/E/G ratio of 1.31 and a beta of 1.14.

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

Analyst Upgrades and Downgrades

AMZN has been the subject of several recent analyst reports. UBS Group lifted their target price on shares of Amazon.com from $215.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $205.00 target price on shares of Amazon.com in a research note on Wednesday, May 15th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $220.00 target price on shares of Amazon.com in a research note on Wednesday, May 1st. Loop Capital lifted their target price on shares of Amazon.com from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Finally, Morgan Stanley lifted their target price on shares of Amazon.com from $215.00 to $220.00 and gave the stock an “overweight” rating in a research note 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.com, Amazon.com has a consensus rating of “Buy” and a consensus price target of $213.82.

Insider Activity at Amazon.com

In related news, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $184.00, for a total transaction of $92,000.00. Following the completion of the sale, the chief executive officer now owns 131,600 shares of the company’s stock, valued at approximately $24,214,400. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Amazon.com news, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $184.00, for a total transaction of $92,000.00. Following the completion of the transaction, the chief executive officer now directly owns 131,600 shares of the company’s stock, valued at approximately $24,214,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $181.44, for a total transaction of $3,771,048.96. Following the transaction, the chief executive officer now directly owns 2,025,358 shares of the company’s stock, valued at $367,480,955.52. The disclosure for this sale can be found here. Insiders sold a total of 65,338 shares of company stock valued at $11,894,344 in the last quarter. Insiders own 10.80% 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.