Main Street Research LLC Buys 8,029 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Main Street Research LLC boosted its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 2.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 293,198 shares of the e-commerce giant’s stock after purchasing an additional 8,029 shares during the quarter. Amazon.com comprises 3.7% of Main Street Research LLC’s investment portfolio, making the stock its 6th biggest position. Main Street Research LLC’s holdings in Amazon.com were worth $56,661,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of AMZN. Vanguard Group Inc. increased its stake in shares of Amazon.com by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after purchasing an additional 14,724,687 shares during the last quarter. Norges Bank bought a new position in Amazon.com in the fourth quarter valued at about $17,700,551,000. Capital Research Global Investors raised its stake in Amazon.com by 8.5% during the first quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock worth $15,689,968,000 after acquiring an additional 6,810,145 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Amazon.com by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock worth $13,091,909,000 after acquiring an additional 289,532 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Amazon.com by 0.5% during the 1st quarter. Jennison Associates LLC now owns 56,666,183 shares of the e-commerce giant’s stock valued at $10,221,446,000 after purchasing an additional 295,132 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on AMZN shares. Morgan Stanley cut their target price on shares of Amazon.com from $240.00 to $210.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Stifel Nicolaus cut their target price on shares of Amazon.com from $228.00 to $224.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Jefferies Financial Group reduced their target price on shares of Amazon.com from $235.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. TD Securities raised their price target on shares of Amazon.com from $225.00 to $245.00 in a research note on Wednesday, July 10th. Finally, Truist Financial boosted their price objective on shares of Amazon.com from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. One investment analyst has rated the stock with a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $222.84.

Amazon.com Stock Performance

AMZN opened at $193.88 on Tuesday. Amazon.com, Inc. has a 1-year low of $118.35 and a 1-year high of $201.20. The company has a market cap of $2.02 trillion, a price-to-earnings ratio of 54.31, a PEG ratio of 1.39 and a beta of 1.14. The company’s fifty day moving average price is $178.57 and its two-hundred day moving average price is $182.22. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23.

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

Insider Transactions at Amazon.com

In related news, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $195.99, for a total transaction of $685,965.00. Following the transaction, the chief executive officer now owns 519,753 shares of the company’s stock, valued at $101,866,390.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Amazon.com news, SVP David Zapolsky sold 4,710 shares of Amazon.com stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $195.00, for a total transaction of $918,450.00. Following the transaction, the senior vice president now owns 59,500 shares of the company’s stock, valued at approximately $11,602,500. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $195.99, for a total value of $685,965.00. Following the completion of the transaction, the chief executive officer now directly owns 519,753 shares of the company’s stock, valued at $101,866,390.47. The disclosure for this sale can be found here. Insiders sold a total of 6,104,317 shares of company stock valued at $1,220,621,322 over the last ninety days. 10.80% of the stock is currently owned by insiders.

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.