Kennicott Capital Management LLC Acquires 2,869 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Kennicott Capital Management LLC boosted its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 1,900.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,020 shares of the e-commerce giant’s stock after acquiring an additional 2,869 shares during the quarter. Kennicott Capital Management LLC’s holdings in Amazon.com were worth $321,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Gibson Wealth Advisors LLC bought a new position in Amazon.com in the 4th quarter valued at approximately $33,000. MBM Wealth Consultants LLC raised its stake in Amazon.com by 57.1% during the 4th quarter. MBM Wealth Consultants LLC now owns 11 shares of the e-commerce giant’s stock valued at $37,000 after buying an additional 4 shares during the last quarter. William Allan LLC purchased a new stake in Amazon.com during the 4th quarter valued at $47,000. Cardinal Capital Management Inc. purchased a new stake in Amazon.com during the 1st quarter valued at $49,000. Finally, Security Financial Services INC. purchased a new stake in Amazon.com during the 4th quarter valued at $57,000. 57.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Loop Capital decreased their target price on shares of Amazon.com from $187.50 to $141.25 and set a “buy” rating for the company in a research note on Friday, May 27th. Mizuho decreased their target price on shares of Amazon.com from $197.50 to $155.00 and set a “buy” rating for the company in a research note on Thursday, July 21st. They noted that the move was a valuation call. Itau BBA Securities assumed coverage on shares of Amazon.com in a research note on Tuesday, July 26th. They set an “outperform” rating and a $146.00 target price for the company. Redburn Partners assumed coverage on Amazon.com in a research note on Wednesday, June 29th. They issued a “buy” rating and a $270.00 price objective for the company. Finally, Cowen reduced their price objective on Amazon.com from $215.00 to $210.00 and set an “outperform” rating for the company in a research note on Thursday, July 14th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and thirty-six have assigned a buy rating to the stock. According to data from MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and a consensus price target of $176.61.

Insider Buying and Selling

In related news, CEO Andrew R. Jassy sold 23,620 shares of the stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $142.29, for a total value of $3,360,889.80. Following the sale, the chief executive officer now directly owns 1,892,000 shares of the company’s stock, valued at approximately $269,212,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Shelley Reynolds sold 3,480 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $134.23, for a total transaction of $467,120.40. Following the transaction, the vice president now directly owns 119,780 shares of the company’s stock, valued at $16,078,069.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Andrew R. Jassy sold 23,620 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $142.29, for a total transaction of $3,360,889.80. Following the transaction, the chief executive officer now directly owns 1,892,000 shares in the company, valued at $269,212,680. The disclosure for this sale can be found here. Insiders have sold 70,628 shares of company stock valued at $9,802,599 in the last ninety days. 12.70% of the stock is owned by company insiders.

Amazon.com Stock Performance

Amazon.com stock opened at $117.31 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.95 and a quick ratio of 0.68. Amazon.com, Inc. has a 1-year low of $101.26 and a 1-year high of $188.11. The firm has a market capitalization of $1.20 trillion, a P/E ratio of 105.16, a price-to-earnings-growth ratio of 5.45 and a beta of 1.33. The company’s 50-day moving average is $130.33 and its 200 day moving average is $130.17.

Amazon.com (NASDAQ:AMZNGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The e-commerce giant reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). Amazon.com had a return on equity of 15.79% and a net margin of 2.39%. The firm had revenue of $121.23 billion during the quarter, compared to analysts’ expectations of $119.16 billion. During the same period last year, the company earned $0.76 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. Research analysts forecast that Amazon.com, Inc. will post 0.99 EPS for the current year.

Amazon.com Company Profile

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Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It sells merchandise and content purchased for resale from third-party sellers through physical and online stores.

Further Reading

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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