Bridges Investment Management Inc. Buys 6,730 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Bridges Investment Management Inc. raised its position in Amazon.com, Inc. (NASDAQ:AMZN) by 0.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,619,754 shares of the e-commerce giant’s stock after purchasing an additional 6,730 shares during the period. Amazon.com makes up about 4.2% of Bridges Investment Management Inc.’s investment portfolio, making the stock its 4th biggest holding. Bridges Investment Management Inc.’s holdings in Amazon.com were worth $301,809,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PayPay Securities Corp increased its holdings in Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares in the last quarter. Hoese & Co LLP purchased a new position in shares of Amazon.com during the third quarter valued at about $37,000. Bull Oak Capital LLC purchased a new position in Amazon.com during the third quarter valued at $45,000. Values First Advisors Inc. bought a new position in shares of Amazon.com during the 3rd quarter valued at $56,000. Finally, Christopher J. Hasenberg Inc increased its stake in Amazon.com by 650.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after buying an additional 260 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Bank of America lifted their target price on Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Roth Mkm boosted their target price on Amazon.com from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Stifel Nicolaus increased their price target on shares of Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Susquehanna upped their target price on Amazon.com from $220.00 to $230.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Finally, Sanford C. Bernstein lifted their price target on shares of Amazon.com from $235.00 to $265.00 and gave the stock an “outperform” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $242.00.

Insiders Place Their Bets

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the sale, the director now directly owns 24,912 shares of the company’s stock, valued at $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Douglas J. Herrington sold 5,502 shares of Amazon.com 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 transaction, the chief executive officer now directly owns 518,911 shares in the company, valued at approximately $106,797,072.91. This represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,034,534 shares of company stock valued at $1,253,883,872. 10.80% of the stock is currently owned by insiders.

Amazon.com Stock Performance

Shares of NASDAQ AMZN opened at $220.52 on Thursday. The stock’s fifty day simple moving average is $204.37 and its 200 day simple moving average is $190.75. Amazon.com, Inc. has a 52-week low of $144.05 and a 52-week high of $233.00. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $2.32 trillion, a price-to-earnings ratio of 47.22, a PEG ratio of 1.54 and a beta of 1.16.

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

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.