Sky Investment Group LLC Increases Position in Amazon.com, Inc. (NASDAQ:AMZN)

Sky Investment Group LLC raised its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 22.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,605 shares of the e-commerce giant’s stock after buying an additional 5,796 shares during the period. Sky Investment Group LLC’s holdings in Amazon.com were worth $5,889,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. China Universal Asset Management Co. Ltd. boosted its position in Amazon.com by 31.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 182,359 shares of the e-commerce giant’s stock valued at $32,894,000 after buying an additional 43,759 shares during the period. Quent Capital LLC increased its position in shares of Amazon.com by 3.3% during the first quarter. Quent Capital LLC now owns 33,729 shares of the e-commerce giant’s stock worth $6,084,000 after acquiring an additional 1,081 shares during the period. Empirical Finance LLC raised its stake in shares of Amazon.com by 3.6% in the first quarter. Empirical Finance LLC now owns 318,667 shares of the e-commerce giant’s stock valued at $57,481,000 after acquiring an additional 11,133 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Amazon.com by 10.4% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 519,213 shares of the e-commerce giant’s stock valued at $93,656,000 after purchasing an additional 48,933 shares during the period. Finally, Motive Wealth Advisors grew its stake in Amazon.com by 74.7% during the 1st quarter. Motive Wealth Advisors now owns 8,224 shares of the e-commerce giant’s stock worth $1,483,000 after purchasing an additional 3,516 shares in the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Jonathan Rubinstein sold 4,766 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $209.85, for a total transaction of $1,000,145.10. Following the transaction, the director now directly owns 94,630 shares of the company’s stock, valued at $19,858,105.50. This represents a 4.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP David Zapolsky sold 2,190 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the sale, the senior vice president now owns 62,420 shares of the company’s stock, valued at $12,171,900. This trade represents a 3.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,011,423 shares of company stock worth $1,249,093,896. Company insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AMZN shares. Pivotal Research began coverage on Amazon.com in a research report on Friday, October 11th. They issued a “buy” rating and a $260.00 price target on the stock. Monness Crespi & Hardt upped their target price on shares of Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Barclays lifted their price target on shares of Amazon.com from $220.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Susquehanna boosted their price target on shares of Amazon.com from $220.00 to $230.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Finally, TD Cowen raised their price objective on shares of Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $235.77.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $197.12 on Friday. The firm has a market cap of $2.07 trillion, a price-to-earnings ratio of 42.21, a price-to-earnings-growth ratio of 1.33 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. Amazon.com, Inc. has a 1-year low of $142.81 and a 1-year high of $215.90. The firm’s fifty day moving average price is $193.00 and its 200 day moving average price is $186.31.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.29. The business had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.85 earnings per share. On average, sell-side analysts expect that Amazon.com, Inc. will post 5.27 EPS for the current year.

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.