Van ECK Associates Corp Acquires 1,504,332 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Van ECK Associates Corp grew its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 2,040.5% during the 2nd quarter, Holdings Channel reports. The firm owned 1,578,054 shares of the e-commerce giant’s stock after purchasing an additional 1,504,332 shares during the period. Van ECK Associates Corp’s holdings in Amazon.com were worth $167,605,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Elkhorn Partners Limited Partnership boosted its stake in Amazon.com by 800.0% during the 1st quarter. Elkhorn Partners Limited Partnership now owns 18 shares of the e-commerce giant’s stock worth $59,000 after acquiring an additional 16 shares during the last quarter. Dravo Bay LLC bought a new position in Amazon.com during the 1st quarter worth approximately $72,000. Cordant Inc. bought a new position in Amazon.com during the 1st quarter worth approximately $150,000. Moisand Fitzgerald Tamayo LLC boosted its stake in Amazon.com by 36.1% during the 1st quarter. Moisand Fitzgerald Tamayo LLC now owns 49 shares of the e-commerce giant’s stock worth $160,000 after acquiring an additional 13 shares during the last quarter. Finally, Evolution Advisers Inc. boosted its stake in Amazon.com by 900.0% during the 1st quarter. Evolution Advisers Inc. now owns 50 shares of the e-commerce giant’s stock worth $162,000 after acquiring an additional 45 shares during the last quarter. Institutional investors own 57.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on AMZN shares. Oppenheimer reduced their price objective on shares of Amazon.com from $165.00 to $130.00 and set an “outperform” rating on the stock in a research note on Friday, October 28th. Morgan Stanley dropped their target price on shares of Amazon.com from $175.00 to $140.00 and set an “overweight” rating on the stock in a report on Friday, October 28th. Sanford C. Bernstein dropped their target price on shares of Amazon.com from $150.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, October 28th. UBS Group raised their target price on shares of Amazon.com from $167.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Finally, JMP Securities dropped their target price on shares of Amazon.com from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Friday, October 28th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and forty-two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $150.77.

Insiders Place Their Bets

In other Amazon.com news, major shareholder Amazon Com Inc sold 250,000 shares of Amazon.com stock in a transaction on Friday, October 7th. The shares were sold at an average price of $23.61, for a total transaction of $5,902,500.00. Following the completion of the transaction, the insider now directly owns 14,178,445 shares of the company’s stock, valued at $334,753,086.45. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, major shareholder Amazon Com Inc sold 250,000 shares of the business’s stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $23.61, for a total value of $5,902,500.00. Following the completion of the sale, the insider now owns 14,178,445 shares of the company’s stock, valued at $334,753,086.45. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adam Selipsky sold 520 shares of the business’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $127.43, for a total transaction of $66,263.60. Following the completion of the sale, the chief executive officer now directly owns 115,680 shares of the company’s stock, valued at approximately $14,741,102.40. The disclosure for this sale can be found here. Insiders sold a total of 269,412 shares of company stock valued at $7,914,139 over the last ninety days. 12.70% of the stock is currently owned by company insiders.

Amazon.com Trading Up 0.8 %

AMZN stock opened at $93.20 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.68. The company has a fifty day moving average price of $109.13 and a two-hundred day moving average price of $116.76. Amazon.com, Inc. has a one year low of $85.87 and a one year high of $181.68. The stock has a market cap of $950.79 billion, a price-to-earnings ratio of 85.54, a price-to-earnings-growth ratio of 6.29 and a beta of 1.23.

Amazon.com (NASDAQ:AMZNGet Rating) last released its quarterly earnings data on Thursday, October 27th. The e-commerce giant reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.06. Amazon.com had a net margin of 2.25% and a return on equity of 14.44%. The firm had revenue of $127.10 billion during the quarter, compared to analysts’ expectations of $127.47 billion. During the same period in the previous year, the business posted $0.31 earnings per share. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. Equities analysts anticipate that Amazon.com, Inc. will post 0.74 EPS for the current year.

About Amazon.com

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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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