Amazon.com, Inc. (NASDAQ:AMZN) Position Boosted by Bowie Capital Management LLC

Bowie Capital Management LLC increased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 28.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 465,903 shares of the e-commerce giant’s stock after buying an additional 103,753 shares during the quarter. Amazon.com comprises 4.5% of Bowie Capital Management LLC’s portfolio, making the stock its 12th largest holding. Bowie Capital Management LLC’s holdings in Amazon.com were worth $86,812,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Icon Wealth Advisors LLC grew its holdings in Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after buying an additional 25,581 shares in the last quarter. PayPay Securities Corp boosted its stake in Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after purchasing an additional 64 shares in the last quarter. Hoese & Co LLP bought a new position in Amazon.com during the 3rd quarter valued at $37,000. Bull Oak Capital LLC bought a new position in Amazon.com during the 3rd quarter valued at $45,000. Finally, Values First Advisors Inc. bought a new position in Amazon.com during the 3rd quarter valued at $56,000. 72.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AMZN shares. Moffett Nathanson increased their price target on Amazon.com from $235.00 to $248.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Monness Crespi & Hardt increased their price target on Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Bank of America increased their price target on Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Wolfe Research increased their price objective on Amazon.com from $250.00 to $270.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Benchmark increased their price objective on Amazon.com from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $243.44.

Insiders Place Their Bets

In other news, Director Jonathan Rubinstein sold 4,351 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $229.85, for a total value of $1,000,077.35. Following the sale, the director now directly owns 88,203 shares of the company’s stock, valued at approximately $20,273,459.55. This trade represents a 4.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the sale, the director now directly owns 24,912 shares in the company, valued at approximately $4,958,982.72. This represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,032,344 shares of company stock valued at $1,253,456,822 over the last three months. 10.80% of the stock is currently owned by insiders.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $224.19 on Monday. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The firm has a market cap of $2.36 trillion, a price-to-earnings ratio of 48.01, a P/E/G ratio of 1.54 and a beta of 1.16. Amazon.com, Inc. has a 1 year low of $144.05 and a 1 year high of $233.00. The business has a fifty day simple moving average of $213.07 and a 200 day simple moving average of $194.21.

Amazon.com (NASDAQ:AMZN) last posted its earnings results 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. The firm 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 earnings per share. As a group, sell-side analysts predict that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal 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.