Prakash Investment Advisors LLC Makes New $7.56 Million Investment in Amazon.com, Inc. (NASDAQ:AMZN)

Prakash Investment Advisors LLC acquired a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the fourth quarter, HoldingsChannel reports. The fund acquired 34,450 shares of the e-commerce giant’s stock, valued at approximately $7,558,000. Amazon.com comprises about 7.5% of Prakash Investment Advisors LLC’s portfolio, making the stock its 6th largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Parcion Private Wealth LLC lifted its position in Amazon.com by 1.6% during the 4th quarter. Parcion Private Wealth LLC now owns 64,537 shares of the e-commerce giant’s stock valued at $14,159,000 after purchasing an additional 1,009 shares during the period. O Brien Greene & Co. Inc acquired a new position in Amazon.com during the 4th quarter valued at about $271,000. Bear Mountain Capital Inc. lifted its position in Amazon.com by 2.4% during the 4th quarter. Bear Mountain Capital Inc. now owns 11,887 shares of the e-commerce giant’s stock valued at $2,798,000 after purchasing an additional 280 shares during the period. Morningstar Investment Management LLC lifted its position in Amazon.com by 32.8% during the 4th quarter. Morningstar Investment Management LLC now owns 78,397 shares of the e-commerce giant’s stock valued at $17,200,000 after purchasing an additional 19,364 shares during the period. Finally, Able Wealth Management LLC lifted its position in Amazon.com by 9.0% during the 4th quarter. Able Wealth Management LLC now owns 1,969 shares of the e-commerce giant’s stock valued at $432,000 after purchasing an additional 162 shares during the period. Institutional investors own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

AMZN has been the topic of a number of research reports. Canaccord Genuity Group restated a “buy” rating on shares of Amazon.com in a research report on Thursday, February 13th. TD Cowen upped their target price on shares of Amazon.com from $240.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Barclays increased their price target on shares of Amazon.com from $235.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Tigress Financial increased their price target on shares of Amazon.com from $245.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, Wells Fargo & Company cut their price target on shares of Amazon.com from $207.00 to $203.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 25th. Two research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $260.65.

Insider Transactions at Amazon.com

In other news, VP Shelley Reynolds sold 8,833 shares of Amazon.com stock in a transaction on Friday, February 21st. The stock was sold at an average price of $222.47, for a total transaction of $1,965,077.51. Following the completion of the sale, the vice president now owns 119,780 shares of the company’s stock, valued at approximately $26,647,456.60. This trade represents a 6.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas J. Herrington sold 27,500 shares of Amazon.com stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total value of $6,332,425.00. Following the sale, the chief executive officer now directly owns 497,067 shares of the company’s stock, valued at $114,459,618.09. This represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 102,298 shares of company stock valued at $22,871,828. 10.80% of the stock is currently owned by corporate insiders.

Amazon.com Trading Up 0.6 %

Shares of Amazon.com stock opened at $196.21 on Friday. The business has a fifty day simple moving average of $218.90 and a two-hundred day simple moving average of $207.97. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The company has a market capitalization of $2.08 trillion, a price-to-earnings ratio of 35.48, a P/E/G ratio of 1.50 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. Research analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current year.

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.