New York Life Investment Management LLC Buys 96,469 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

New York Life Investment Management LLC raised its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 7.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,345,690 shares of the e-commerce giant’s stock after purchasing an additional 96,469 shares during the period. Amazon.com accounts for about 2.9% of New York Life Investment Management LLC’s holdings, making the stock its 4th biggest position. New York Life Investment Management LLC’s holdings in Amazon.com were worth $295,231,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of AMZN. Accordant Advisory Group Inc grew its stake in Amazon.com by 400.0% in the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock valued at $27,000 after purchasing an additional 100 shares in the last quarter. Icon Wealth Advisors LLC grew its stake in shares of Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after buying an additional 25,581 shares in the last quarter. Quattro Financial Advisors LLC increased its holdings in Amazon.com by 23.8% in the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock worth $51,000 after buying an additional 45 shares during the last quarter. Compass Planning Associates Inc bought a new position in Amazon.com during the fourth quarter valued at approximately $51,000. Finally, Iron Horse Wealth Management LLC lifted its stake in Amazon.com by 64.4% in the fourth quarter. Iron Horse Wealth Management LLC now owns 286 shares of the e-commerce giant’s stock valued at $63,000 after acquiring an additional 112 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Stock Performance

Amazon.com stock opened at $192.72 on Friday. The firm has a market capitalization of $2.04 trillion, a P/E ratio of 34.85, a P/E/G ratio of 1.50 and a beta of 1.19. The stock has a fifty day moving average price of $216.86 and a two-hundred day moving average price of $209.08. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. As a group, analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Activity

In other news, CEO Douglas J. Herrington sold 27,500 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total value of $6,332,425.00. Following the completion of the sale, the chief executive officer now directly owns 497,067 shares in the company, valued at approximately $114,459,618.09. This trade represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Shelley Reynolds sold 8,833 shares of Amazon.com stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $222.47, for a total value of $1,965,077.51. Following the completion of the transaction, the vice president now directly owns 119,780 shares of the company’s stock, valued at $26,647,456.60. This represents a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 102,298 shares of company stock worth $22,871,828. Insiders own 10.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AMZN. UBS Group increased their price target on shares of Amazon.com from $230.00 to $264.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Citigroup restated a “buy” rating on shares of Amazon.com in a report on Thursday, February 13th. Raymond James increased their price objective on Amazon.com from $260.00 to $275.00 in a report on Monday, February 10th. BMO Capital Markets restated an “outperform” rating and issued a $236.00 target price on shares of Amazon.com in a report on Tuesday, December 3rd. Finally, Scotiabank increased their price target on Amazon.com from $246.00 to $306.00 and gave the company a “sector outperform” rating in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Amazon.com currently has an average rating of “Moderate Buy” and a consensus target price of $260.65.

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.