GAMMA Investing LLC Purchases 30,104,520 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

GAMMA Investing LLC lifted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 21,420.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,245,061 shares of the e-commerce giant’s stock after acquiring an additional 30,104,520 shares during the period. Amazon.com makes up about 1.0% of GAMMA Investing LLC’s portfolio, making the stock its 16th largest holding. GAMMA Investing LLC’s holdings in Amazon.com were worth $5,754,425,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cable Hill Partners LLC lifted its position in shares of Amazon.com by 0.5% during the fourth quarter. Cable Hill Partners LLC now owns 9,588 shares of the e-commerce giant’s stock valued at $2,104,000 after purchasing an additional 44 shares in the last quarter. Quattro Financial Advisors LLC lifted its position in shares of Amazon.com by 23.8% during the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock valued at $51,000 after purchasing an additional 45 shares in the last quarter. Northern Capital Management Inc. raised its position in Amazon.com by 0.6% in the fourth 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 period. White Wing Wealth Management raised its position in Amazon.com by 2.4% in the fourth 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 period. Finally, Balanced Wealth Group LLC raised its position in Amazon.com by 1.6% in the fourth quarter. Balanced Wealth Group LLC now owns 2,966 shares of the e-commerce giant’s stock worth $705,000 after acquiring an additional 48 shares during the period. Institutional investors own 72.20% of the company’s stock.

Insider Activity at Amazon.com

In other Amazon.com news, VP Shelley Reynolds sold 2,695 shares of the company’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $200.79, for a total value of $541,129.05. Following the completion of the transaction, the vice president now directly owns 119,780 shares in the company, valued at approximately $24,050,626.20. This represents a 2.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Keith Brian Alexander sold 1,000 shares of the company’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $210.68, for a total transaction of $210,680.00. Following the completion of the transaction, the director now owns 5,465 shares of the company’s stock, valued at $1,151,366.20. This trade represents a 15.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 102,037 shares of company stock worth $20,531,075 in the last three months. 9.70% of the stock is owned by insiders.

Amazon.com Trading Up 0.3%

NASDAQ:AMZN opened at $217.61 on Wednesday. The company has a fifty day moving average of $193.04 and a 200 day moving average of $209.02. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $2.31 trillion, a P/E ratio of 39.35, a P/E/G ratio of 1.50 and a beta of 1.33.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AMZN. Jefferies Financial Group reduced their target price on shares of Amazon.com from $250.00 to $240.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. The Goldman Sachs Group reduced their price objective on shares of Amazon.com from $255.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Rosenblatt Securities boosted their price objective on shares of Amazon.com from $287.00 to $288.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Raymond James reaffirmed an “outperform” rating and set a $195.00 price objective (down previously from $275.00) on shares of Amazon.com in a research note on Monday, April 21st. Finally, Westpark Capital reaffirmed a “buy” rating and set a $280.00 price objective on shares of Amazon.com in a research note on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $244.89.

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.