Sierra Summit Advisors LLC Buys 4,094 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Sierra Summit Advisors LLC increased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 6.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 71,108 shares of the e-commerce giant’s stock after acquiring an additional 4,094 shares during the period. Amazon.com makes up about 3.4% of Sierra Summit Advisors LLC’s portfolio, making the stock its 4th largest holding. Sierra Summit Advisors LLC’s holdings in Amazon.com were worth $13,742,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Collective Family Office LLC raised its holdings in Amazon.com by 9.7% in the 1st quarter. Collective Family Office LLC now owns 9,278 shares of the e-commerce giant’s stock valued at $1,674,000 after acquiring an additional 819 shares during the last quarter. Phillips Wealth Planners LLC boosted its position in shares of 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 worth $487,000 after buying an additional 224 shares during the period. Stonekeep Investments LLC acquired a new position in Amazon.com in the 2nd quarter valued at about $2,588,000. Concord Investment Counsel Inc. purchased a new stake in shares of Amazon.com during the first quarter worth $20,790,000. Finally, O Shaughnessy Asset Management LLC raised its position in Amazon.com by 26.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 644,319 shares of the e-commerce giant’s stock valued at $116,222,000 after purchasing an additional 133,471 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on AMZN shares. Wedbush reaffirmed an “outperform” rating and set a $225.00 price target on shares of Amazon.com in a report on Friday, August 2nd. Maxim Group lifted their price objective on shares of Amazon.com from $238.00 to $251.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. JMP Securities restated a “market outperform” rating and set a $265.00 price objective on shares of Amazon.com in a research report on Tuesday. Barclays upped their price objective on Amazon.com from $220.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Benchmark reiterated a “buy” rating and set a $200.00 target price on shares of Amazon.com in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $224.00.

Amazon.com Trading Up 0.1 %

AMZN opened at $187.69 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. Amazon.com, Inc. has a 52-week low of $118.35 and a 52-week high of $201.20. The firm’s 50 day moving average is $180.63 and its 200-day moving average is $183.30. The firm has a market capitalization of $1.95 trillion, a P/E ratio of 52.57, a P/E/G ratio of 1.38 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The firm had revenue of $147.98 billion during the quarter, compared to analyst estimates of $148.63 billion. Analysts expect that Amazon.com, Inc. will post 4.85 EPS for the current fiscal year.

Insider Activity

In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $189.25, for a total transaction of $662,375.00. Following the sale, the chief executive officer now directly owns 503,753 shares in the company, valued at approximately $95,335,255.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the completion of the sale, the chief executive officer now owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $189.25, for a total transaction of $662,375.00. Following the completion of the transaction, the chief executive officer now directly owns 503,753 shares of the company’s stock, valued at $95,335,255.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,355 shares of company stock valued at $9,877,423. 10.80% of the stock is currently owned by company 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.