TCP Asset Management LLC Grows Position in Amazon.com, Inc. (NASDAQ:AMZN)

TCP Asset Management LLC increased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 58.8% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,068 shares of the e-commerce giant’s stock after buying an additional 766 shares during the quarter. TCP Asset Management LLC’s holdings in Amazon.com were worth $385,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Foundations Investment Advisors LLC increased its position in Amazon.com by 9.7% during the third quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock valued at $34,395,000 after acquiring an additional 16,392 shares during the last quarter. Zhang Financial LLC grew its stake in shares of Amazon.com by 12.9% during the 3rd quarter. Zhang Financial LLC now owns 51,091 shares of the e-commerce giant’s stock valued at $9,520,000 after purchasing an additional 5,828 shares during the period. BayBridge Capital Group LLC increased its position in shares of Amazon.com by 51.8% during the 3rd quarter. BayBridge Capital Group LLC now owns 14,368 shares of the e-commerce giant’s stock valued at $2,677,000 after purchasing an additional 4,905 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Amazon.com by 0.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,847,177 shares of the e-commerce giant’s stock worth $550,217,000 after purchasing an additional 14,766 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Amazon.com by 19.2% in the third quarter. GAMMA Investing LLC now owns 119,205 shares of the e-commerce giant’s stock worth $22,211,000 after buying an additional 19,231 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Price Performance

Shares of Amazon.com stock opened at $210.71 on Tuesday. The stock has a market cap of $2.22 trillion, a price-to-earnings ratio of 45.12, a price-to-earnings-growth ratio of 1.39 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The stock has a 50 day moving average price of $194.78 and a 200-day moving average price of $186.94. Amazon.com, Inc. has a one year low of $142.81 and a one year high of $215.90.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. During the same period in the previous year, the firm earned $0.85 earnings per share. Amazon.com’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities analysts expect that Amazon.com, Inc. will post 5.29 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $230.00 price target on shares of Amazon.com in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft raised their target price on Amazon.com from $225.00 to $232.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Benchmark lifted their target price on Amazon.com from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, November 1st. BMO Capital Markets restated an “outperform” rating and issued a $236.00 price target (up previously from $230.00) on shares of Amazon.com in a research report on Friday, November 1st. Finally, Susquehanna lifted their price objective on Amazon.com from $220.00 to $230.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Amazon.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.20.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 5,502 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $205.81, for a total transaction of $1,132,366.62. Following the completion of the transaction, the chief executive officer now owns 518,911 shares in the company, valued at $106,797,072.91. The trade was a 1.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew S. Garman sold 15,260 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $200.19, for a total value of $3,054,899.40. Following the completion of the sale, the chief executive officer now owns 349,261 shares in the company, valued at approximately $69,918,559.59. The trade was a 4.19 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,026,683 shares of company stock valued at $1,252,148,795. Company insiders own 10.80% of the company’s stock.

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.