Louisbourg Investments Inc. Acquires 9,020 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Louisbourg Investments Inc. grew its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 36.7% in the 1st quarter, Holdings Channel reports. The fund owned 33,629 shares of the e-commerce giant’s stock after buying an additional 9,020 shares during the period. Amazon.com accounts for 1.6% of Louisbourg Investments Inc.’s investment portfolio, making the stock its 18th largest holding. Louisbourg Investments Inc.’s holdings in Amazon.com were worth $6,398,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in AMZN. Cable Hill Partners LLC raised its stake in shares of Amazon.com by 0.5% in 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 buying an additional 44 shares during the period. Northern Capital Management Inc. lifted its position in shares of 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 valued at $1,613,000 after buying an additional 45 shares during the last quarter. White Wing Wealth Management grew its stake in shares of 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 period. Balanced Wealth Group LLC increased its holdings in Amazon.com by 1.6% in the 4th 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 last quarter. Finally, ETF Store Inc. raised its stake in Amazon.com by 2.1% in the 4th quarter. ETF Store Inc. now owns 2,378 shares of the e-commerce giant’s stock valued at $522,000 after acquiring an additional 48 shares during the period. Institutional investors own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AMZN shares. Needham & Company LLC reaffirmed a “buy” rating and set a $220.00 price objective on shares of Amazon.com in a report on Friday, May 2nd. Mizuho lowered their price target on shares of Amazon.com from $285.00 to $255.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Truist Financial raised their price objective on shares of Amazon.com from $226.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday. Westpark Capital reiterated a “buy” rating and issued a $280.00 price objective on shares of Amazon.com in a research note on Friday, May 2nd. Finally, Bank of America boosted their target price on shares of Amazon.com from $230.00 to $248.00 and gave the company a “buy” rating in a report on Monday, June 2nd. Three analysts have rated the stock with a hold rating, forty-five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $245.60.

Amazon.com Trading Up 1.5%

Shares of AMZN stock opened at $223.13 on Friday. The business has a 50-day moving average price of $205.76 and a two-hundred day moving average price of $208.76. Amazon.com, Inc. has a 12-month low of $151.61 and a 12-month high of $242.52. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.17. The firm has a market cap of $2.37 trillion, a P/E ratio of 36.34, a price-to-earnings-growth ratio of 1.66 and a beta of 1.33.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.21. The company had revenue of $155.67 billion for the quarter, compared to analysts’ expectations of $154.96 billion. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. Amazon.com’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $0.98 EPS. Equities analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Activity

In other news, insider Jeffrey P. Bezos sold 3,100,000 shares of the company’s stock in a transaction on Friday, June 27th. The shares were sold at an average price of $221.42, for a total value of $686,402,000.00. Following the completion of the sale, the insider owned 905,679,901 shares of the company’s stock, valued at approximately $200,535,643,679.42. This represents a 0.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew R. Jassy sold 19,872 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total transaction of $4,000,233.60. Following the transaction, the chief executive officer directly owned 2,148,694 shares in the company, valued at approximately $432,532,102.20. This represents a 0.92% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,426,963 shares of company stock valued at $757,297,707. Insiders own 9.70% of the company’s stock.

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.