Westchester Capital Management Inc. Boosts Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Westchester Capital Management Inc. increased its position in Amazon.com, Inc. (NASDAQ:AMZN) by 1.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,124 shares of the e-commerce giant’s stock after buying an additional 405 shares during the period. Amazon.com accounts for about 1.8% of Westchester Capital Management Inc.’s investment portfolio, making the stock its 22nd biggest position. Westchester Capital Management Inc.’s holdings in Amazon.com were worth $6,981,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AMZN. Collective Family Office LLC raised its position in Amazon.com by 9.7% during the first quarter. Collective Family Office LLC now owns 9,278 shares of the e-commerce giant’s stock valued at $1,674,000 after purchasing an additional 819 shares during the period. Phillips Wealth Planners LLC raised its position in Amazon.com by 9.2% during the first quarter. Phillips Wealth Planners LLC now owns 2,655 shares of the e-commerce giant’s stock valued at $487,000 after purchasing an additional 224 shares during the period. Bayesian Capital Management LP purchased a new stake in Amazon.com during the fourth quarter valued at approximately $5,926,000. Clearstead Trust LLC raised its position in Amazon.com by 25.8% during the fourth quarter. Clearstead Trust LLC now owns 65,539 shares of the e-commerce giant’s stock valued at $9,958,000 after purchasing an additional 13,454 shares during the period. Finally, Summa Corp. purchased a new stake in Amazon.com during the fourth quarter valued at approximately $1,506,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AMZN. Robert W. Baird increased their price target on Amazon.com from $210.00 to $213.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. Maxim Group increased their price target on Amazon.com from $238.00 to $251.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. TD Cowen increased their price target on Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Tigress Financial increased their price target on Amazon.com from $210.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Finally, Rosenblatt Securities increased their price target on Amazon.com from $220.00 to $221.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, forty have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $222.84.

Insider Buying and Selling

In related news, CFO Brian T. Olsavsky sold 14,600 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total value of $2,628,000.00. Following the completion of the transaction, the chief financial officer now owns 49,000 shares in the company, valued at approximately $8,820,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the transaction, the chief executive officer now owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian T. Olsavsky sold 14,600 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the transaction, the chief financial officer now owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. The disclosure for this sale can be found here. Insiders sold 6,104,317 shares of company stock worth $1,220,621,322 in the last 90 days. Insiders own 10.80% of the company’s stock.

Amazon.com Stock Up 0.9 %

Amazon.com stock opened at $191.60 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88. The stock has a market capitalization of $1.99 trillion, a price-to-earnings ratio of 53.67, a PEG ratio of 1.39 and a beta of 1.14. Amazon.com, Inc. has a 1-year low of $118.35 and a 1-year high of $201.20. The business has a fifty day moving average price of $178.54 and a 200-day moving average price of $182.04.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. The company had revenue of $147.98 billion during the quarter, compared to analyst estimates of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. Equities research analysts forecast that Amazon.com, Inc. will post 4.86 EPS for the current fiscal year.

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.