Harvey Capital Management Inc. Acquires 11,558 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Harvey Capital Management Inc. increased its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 9.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,678 shares of the e-commerce giant’s stock after purchasing an additional 11,558 shares during the period. Amazon.com accounts for about 6.6% of Harvey Capital Management Inc.’s holdings, making the stock its 3rd biggest position. Harvey Capital Management Inc.’s holdings in Amazon.com were worth $20,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lake Hills Wealth Management LLC boosted its position in Amazon.com by 0.8% during the 4th quarter. Lake Hills Wealth Management LLC now owns 7,985 shares of the e-commerce giant’s stock worth $1,213,000 after purchasing an additional 65 shares during the period. Veery Capital LLC raised its holdings in shares of Amazon.com by 1.1% during the 4th quarter. Veery Capital LLC now owns 5,890 shares of the e-commerce giant’s stock valued at $895,000 after buying an additional 66 shares during the period. Bellwether Advisors LLC boosted its holdings in Amazon.com by 2.3% in the 4th quarter. Bellwether Advisors LLC now owns 2,936 shares of the e-commerce giant’s stock worth $446,000 after acquiring an additional 66 shares during the period. StrategIQ Financial Group LLC lifted its position in shares of Amazon.com by 0.3% during the fourth quarter. StrategIQ Financial Group LLC now owns 23,259 shares of the e-commerce giant’s stock worth $3,534,000 after purchasing an additional 66 shares in the last quarter. Finally, Marion Wealth Management boosted its stake in shares of Amazon.com by 1.6% in the fourth quarter. Marion Wealth Management now owns 4,321 shares of the e-commerce giant’s stock valued at $657,000 after purchasing an additional 67 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Transactions at Amazon.com

In other news, CEO Douglas J. Herrington sold 20,200 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $169.99, for a total transaction of $3,433,798.00. Following the completion of the sale, the chief executive officer now directly owns 514,131 shares of the company’s stock, valued at approximately $87,397,128.69. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Douglas J. Herrington sold 20,200 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $169.99, for a total transaction of $3,433,798.00. Following the completion of the sale, the chief executive officer now directly owns 514,131 shares of the company’s stock, valued at $87,397,128.69. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $180.00, for a total value of $90,000.00. Following the completion of the transaction, the chief executive officer now directly owns 132,600 shares in the company, valued at approximately $23,868,000. The disclosure for this sale can be found here. Insiders have sold 32,213,510 shares of company stock valued at $5,505,811,286 in the last quarter. Insiders own 10.30% of the company’s stock.

Amazon.com Stock Performance

Shares of NASDAQ AMZN opened at $179.00 on Thursday. Amazon.com, Inc. has a 1 year low of $101.15 and a 1 year high of $189.77. The firm has a market cap of $1.86 trillion, a P/E ratio of 61.72, a PEG ratio of 1.57 and a beta of 1.16. The stock has a fifty day moving average price of $178.59 and a two-hundred day moving average price of $159.78. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.84 and a current ratio of 1.05.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.15. Amazon.com had a return on equity of 16.61% and a net margin of 5.29%. The business had revenue of $143.31 billion during the quarter, compared to analysts’ expectations of $142.65 billion. During the same quarter last year, the business posted $0.31 earnings per share. The company’s quarterly revenue was up 12.5% on a year-over-year basis. Research analysts forecast that Amazon.com, Inc. will post 4.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AMZN shares. Benchmark reaffirmed a “buy” rating and set a $200.00 price target on shares of Amazon.com in a research note on Wednesday. Citigroup raised their price objective on Amazon.com from $235.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday. Raymond James upped their target price on Amazon.com from $200.00 to $205.00 and gave the company a “strong-buy” rating in a research report on Wednesday. Susquehanna raised their price target on shares of Amazon.com from $185.00 to $220.00 and gave the stock a “positive” rating in a research report on Friday, February 2nd. Finally, Bank of America lifted their price target on shares of Amazon.com from $185.00 to $204.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a hold rating, forty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $210.18.

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.