Matrix Asset Advisors Inc. NY grew its position in Amazon.com, Inc. (NASDAQ:AMZN) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 129,208 shares of the e-commerce giant’s stock after acquiring an additional 1,341 shares during the period. Amazon.com comprises 2.3% of Matrix Asset Advisors Inc. NY’s portfolio, making the stock its 15th largest holding. Matrix Asset Advisors Inc. NY’s holdings in Amazon.com were worth $16,844,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in AMZN. Bridgefront Capital LLC purchased a new stake in Amazon.com during the first quarter worth about $228,000. Krane Funds Advisors LLC boosted its holdings in Amazon.com by 239.1% during the first quarter. Krane Funds Advisors LLC now owns 78 shares of the e-commerce giant’s stock worth $254,000 after buying an additional 55 shares in the last quarter. Range Financial Group LLC purchased a new stake in Amazon.com during the first quarter worth about $258,000. My Personal CFO LLC purchased a new stake in Amazon.com during the first quarter worth about $261,000. Finally, Worth Asset Management LLC purchased a new stake in Amazon.com during the first quarter worth about $191,000. Hedge funds and other institutional investors own 57.96% of the company’s stock.
Insider Activity
In other news, major shareholder Amazon Com Inc sold 1,177,000 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $19.50, for a total value of $22,951,500.00. Following the completion of the transaction, the insider now directly owns 12,741,445 shares in the company, valued at $248,458,177.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Amazon.com news, CEO Adam Selipsky sold 500 shares of the stock in a transaction on Monday, July 24th. The shares were sold at an average price of $129.48, for a total transaction of $64,740.00. Following the transaction, the chief executive officer now directly owns 149,780 shares in the company, valued at approximately $19,393,514.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Amazon Com Inc sold 1,177,000 shares of the stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $19.50, for a total transaction of $22,951,500.00. Following the transaction, the insider now owns 12,741,445 shares in the company, valued at $248,458,177.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,408,145 shares of company stock worth $55,144,443. 12.30% of the stock is currently owned by company insiders.
Amazon.com Price Performance
Amazon.com (NASDAQ:AMZN – Get Free Report) last announced its earnings results on Thursday, August 3rd. The e-commerce giant reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.29. The business had revenue of $134.38 billion during the quarter, compared to the consensus estimate of $131.54 billion. Amazon.com had a net margin of 2.43% and a return on equity of 9.14%. Equities research analysts anticipate that Amazon.com, Inc. will post 2.23 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of analysts recently commented on AMZN shares. Truist Financial boosted their price objective on shares of Amazon.com from $144.00 to $176.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Jefferies Financial Group upped their price target on shares of Amazon.com from $135.00 to $150.00 in a report on Wednesday, June 21st. Credit Suisse Group upped their price target on shares of Amazon.com from $176.00 to $189.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Benchmark upped their price target on shares of Amazon.com from $130.00 to $170.00 and gave the company a “buy” rating in a report on Friday, August 4th. Finally, CICC Research assumed coverage on shares of Amazon.com in a report on Sunday, July 9th. They issued an “outperform” rating on the stock. Three equities research analysts have rated the stock with a hold rating and forty-eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $161.30.
Amazon.com Profile
Amazon.com, Inc engages in the retail sale of consumer products and subscriptions through online and physical stores in North America and internationally. It operates through three segments: North America, International, and Amazon Web Services (AWS). The company's products offered through its stores include merchandise and content purchased for resale; and products offered by third-party sellers.
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