Ring Mountain Capital LLC Buys 551 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Ring Mountain Capital LLC raised its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 1.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,946 shares of the e-commerce giant’s stock after purchasing an additional 551 shares during the quarter. Amazon.com comprises approximately 5.0% of Ring Mountain Capital LLC’s holdings, making the stock its 5th biggest holding. Ring Mountain Capital LLC’s holdings in Amazon.com were worth $6,649,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Castlekeep Investment Advisors LLC purchased a new stake in Amazon.com during the 4th quarter worth $25,000. Prudent Man Investment Management Inc. purchased a new stake in Amazon.com during the 4th quarter worth $27,000. LSV Asset Management purchased a new stake in Amazon.com during the 4th quarter worth $35,000. Cooksen Wealth LLC purchased a new stake in Amazon.com during the 1st quarter worth $36,000. Finally, Inlight Wealth Management LLC purchased a new stake in Amazon.com during the 1st quarter worth $40,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insiders Place Their Bets

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,643,142 shares of the stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $230.43, for a total value of $609,059,211.06. Following the completion of the sale, the insider directly owned 883,779,901 shares of the company’s stock, valued at $203,649,402,587.43. This represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $217.00, for a total transaction of $542,500.00. Following the completion of the sale, the chief executive officer directly owned 512,050 shares of the company’s stock, valued at approximately $111,114,850. This trade represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,096,253 shares of company stock valued at $5,673,745,409. Insiders own 9.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Raymond James Financial reaffirmed an “outperform” rating and set a $195.00 price target (down previously from $275.00) on shares of Amazon.com in a research note on Monday, April 21st. Scotiabank boosted their target price on shares of Amazon.com from $250.00 to $275.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, July 22nd. BMO Capital Markets boosted their target price on shares of Amazon.com from $270.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Cantor Fitzgerald boosted their target price on shares of Amazon.com from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Finally, Wedbush boosted their target price on shares of Amazon.com from $235.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. One research analyst has rated the stock with a hold rating, forty-seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $262.87.

Amazon.com Price Performance

Shares of Amazon.com stock opened at $231.03 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.81. Amazon.com, Inc. has a fifty-two week low of $161.38 and a fifty-two week high of $242.52. The firm has a fifty day moving average price of $221.41 and a two-hundred day moving average price of $208.64. The company has a market cap of $2.46 trillion, a PE ratio of 35.22, a price-to-earnings-growth ratio of 1.56 and a beta of 1.31.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.37. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The firm had revenue of $167.70 billion during the quarter, compared to the consensus estimate of $161.80 billion. During the same period in the prior year, the firm earned $1.26 EPS. The business’s revenue was up 13.3% on a year-over-year basis. Analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current year.

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.