Kane Investment Management Inc. Purchases New Shares in Amazon.com, Inc. (NASDAQ:AMZN)

Kane Investment Management Inc. acquired a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the 4th quarter, Holdings Channel.com reports. The firm acquired 21,260 shares of the e-commerce giant’s stock, valued at approximately $4,664,000. Amazon.com accounts for about 2.6% of Kane Investment Management Inc.’s holdings, making the stock its 5th biggest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cable Hill Partners LLC boosted its position in Amazon.com by 0.5% during the 4th quarter. Cable Hill Partners LLC now owns 9,588 shares of the e-commerce giant’s stock worth $2,104,000 after acquiring an additional 44 shares during the last quarter. Quattro Financial Advisors LLC boosted its position in Amazon.com by 23.8% during the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock worth $51,000 after acquiring an additional 45 shares during the last quarter. Northern Capital Management Inc. boosted its position in Amazon.com by 0.6% during the 4th quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant’s stock worth $1,613,000 after acquiring an additional 45 shares during the last quarter. White Wing Wealth Management boosted its position in Amazon.com by 2.4% during the 4th quarter. White Wing Wealth Management now owns 1,972 shares of the e-commerce giant’s stock worth $433,000 after acquiring an additional 47 shares during the last quarter. Finally, MBM Wealth Consultants LLC boosted its position in Amazon.com by 0.6% during the 4th quarter. MBM Wealth Consultants LLC now owns 8,578 shares of the e-commerce giant’s stock worth $1,889,000 after acquiring an additional 48 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

AMZN has been the subject of a number of recent research reports. Citigroup reaffirmed an “outperform” rating on shares of Amazon.com in a research report on Friday, May 2nd. JMP Securities reissued a “market outperform” rating on shares of Amazon.com in a report on Tuesday, May 6th. Morgan Stanley cut their price objective on Amazon.com from $280.00 to $245.00 and set an “overweight” rating for the company in a report on Monday, April 14th. The Goldman Sachs Group cut their price objective on Amazon.com from $255.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Finally, Maxim Group increased their price objective on Amazon.com from $260.00 to $280.00 and gave the company a “buy” rating in a report on Friday, February 7th. Four equities research analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company’s stock. According to MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.09.

Amazon.com Stock Performance

AMZN opened at $193.06 on Monday. The firm has a market cap of $2.05 trillion, a P/E ratio of 34.91, a price-to-earnings-growth ratio of 1.50 and a beta of 1.30. 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 quick ratio of 0.87 and a current ratio of 1.06. The business’s fifty day moving average is $188.50 and its 200-day moving average is $208.10.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.21. The company had revenue of $155.67 billion for the quarter, compared to analyst estimates of $154.96 billion. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. Amazon.com’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.98 EPS. Sell-side analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Transactions at Amazon.com

In other news, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $220.65, for a total transaction of $4,585,989.60. Following the sale, the chief executive officer now directly owns 2,118,886 shares of the company’s stock, valued at approximately $467,532,195.90. This represents a 0.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of the firm’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $190.67, for a total value of $476,675.00. Following the completion of the sale, the chief executive officer now directly owns 506,974 shares in the company, valued at $96,664,732.58. This trade represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 107,298 shares of company stock valued at $23,818,478. 9.70% of the stock is owned by corporate 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.