Summit X LLC Has $4.83 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Summit X LLC raised its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 3.7% in the 1st quarter, HoldingsChannel reports. The fund owned 25,401 shares of the e-commerce giant’s stock after acquiring an additional 916 shares during the period. Amazon.com comprises approximately 1.0% of Summit X LLC’s holdings, making the stock its 23rd biggest position. Summit X LLC’s holdings in Amazon.com were worth $4,833,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Amazon.com by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock worth $180,637,081,000 after purchasing an additional 17,635,391 shares during the period. FMR LLC grew its holdings in Amazon.com by 0.5% in the fourth quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant’s stock worth $72,061,766,000 after purchasing an additional 1,725,664 shares during the period. Geode Capital Management LLC grew its holdings in Amazon.com by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant’s stock worth $44,837,256,000 after purchasing an additional 5,015,380 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Amazon.com by 2.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 182,813,905 shares of the e-commerce giant’s stock worth $40,107,544,000 after purchasing an additional 4,087,933 shares during the period. Finally, Norges Bank acquired a new stake in Amazon.com in the fourth quarter worth $27,266,582,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $224.66 on Thursday. The company has a 50 day moving average of $220.60 and a 200 day moving average of $208.72. The stock has a market cap of $2.40 trillion, a P/E ratio of 34.25, a P/E/G ratio of 1.49 and a beta of 1.31. Amazon.com, Inc. has a 12 month low of $161.38 and a 12 month high of $242.52. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15.

Amazon.com (NASDAQ:AMZNGet Free Report) last issued its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 EPS for the quarter, beating the consensus estimate of $1.31 by $0.37. The company had revenue of $167.70 billion during the quarter, compared to analysts’ expectations of $161.80 billion. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. Amazon.com’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.26 earnings per share. As a group, sell-side analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Buying and Selling

In other Amazon.com news, insider Jeffrey P. Bezos sold 4,273,237 shares of the business’s stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $224.81, for a total value of $960,666,409.97. Following the completion of the transaction, the insider owned 897,722,088 shares of the company’s stock, valued at $201,816,902,603.28. The trade was a 0.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 25,096,253 shares of company stock valued at $5,673,745,409. 9.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Citigroup restated an “overweight” rating on shares of Amazon.com in a report on Wednesday. Monness Crespi & Hardt raised their price target on shares of Amazon.com from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Stifel Nicolaus raised their price target on shares of Amazon.com from $245.00 to $262.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Scotiabank raised their price target on shares of Amazon.com from $250.00 to $275.00 and gave the stock a “sector outperform” rating in a report on Tuesday, July 22nd. Finally, HSBC raised their price target on shares of Amazon.com from $240.00 to $256.00 in a report on Tuesday, July 22nd. One equities research analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amazon.com currently has a consensus rating of “Buy” and a consensus price target of $262.45.

Check Out Our Latest Stock Analysis on Amazon.com

About Amazon.com

(Free Report)

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.

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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