Sawgrass Asset Management LLC raised its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 65.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,902 shares of the e-commerce giant’s stock after purchasing an additional 9,806 shares during the period. Amazon.com makes up approximately 5.1% of Sawgrass Asset Management LLC’s holdings, making the stock its 3rd biggest position. Sawgrass Asset Management LLC’s holdings in Amazon.com were worth $68,700,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. Gantzert Investment Co. LLC ADV acquired a new position in shares of Amazon.com in the 2nd quarter valued at $28,000. Sofos Investments Inc. raised its stake in shares of Amazon.com by 120.0% in the 1st quarter. Sofos Investments Inc. now owns 121 shares of the e-commerce giant’s stock valued at $31,000 after buying an additional 66 shares in the last quarter. Your Advocates Ltd. LLP acquired a new position in shares of Amazon.com in the 1st quarter valued at $37,000. James Investment Research Inc. acquired a new position in shares of Amazon.com in the 2nd quarter valued at $55,000. Finally, CBIZ Investment Advisory Services LLC raised its stake in shares of Amazon.com by 262.5% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 29 shares of the e-commerce giant’s stock valued at $57,000 after buying an additional 21 shares in the last quarter. 64.54% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ AMZN opened at $3,164.68 on Friday. The firm has a market capitalization of $1,578.47 billion, a PE ratio of 121.67, a price-to-earnings-growth ratio of 5.83 and a beta of 1.32. The company has a current ratio of 1.08, a quick ratio of 0.84 and a debt-to-equity ratio of 0.36. Amazon.com, Inc. has a 1 year low of $1,626.03 and a 1 year high of $3,344.29. The firm’s 50-day moving average is $2,884.55 and its 200-day moving average is $2,314.52.
AMZN has been the subject of a number of recent research reports. Guggenheim increased their price objective on shares of Amazon.com from $2,700.00 to $3,600.00 in a research note on Friday. Pivotal Research reiterated a “buy” rating on shares of Amazon.com in a research report on Friday. Cowen increased their target price on shares of Amazon.com from $2,750.00 to $3,700.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. BofA Securities increased their target price on shares of Amazon.com from $3,280.00 to $3,560.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Credit Suisse Group increased their target price on shares of Amazon.com from $3,400.00 to $3,680.00 and gave the stock an “outperform” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-five have assigned a buy rating and one has assigned a strong buy rating to the company. Amazon.com currently has an average rating of “Buy” and an average target price of $3,240.51.
In related news, Director Patricia Q. Stonesifer sold 2,200 shares of Amazon.com stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $2,329.44, for a total transaction of $5,124,768.00. Following the transaction, the director now owns 4,645 shares of the company’s stock, valued at approximately $10,820,248.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew R. Jassy sold 6,945 shares of Amazon.com stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $2,256.50, for a total transaction of $15,671,392.50. Following the transaction, the chief executive officer now directly owns 93,105 shares in the company, valued at approximately $210,091,432.50. The disclosure for this sale can be found here. 16.10% of the stock is owned by company insiders.
Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS) segments. It sells merchandise and content purchased for resale from third-party sellers through physical stores and online stores.
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