Pacific Grove Capital LP Invests $391,000 in Amazon.com, Inc. (AMZN) Stock

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Pacific Grove Capital LP acquired a new position in Amazon.com, Inc. (NASDAQ:AMZN) in the first quarter, HoldingsChannel.com reports. The firm acquired 270 shares of the e-commerce giant’s stock, valued at approximately $391,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Ratan Capital Management LP acquired a new position in Amazon.com in the 1st quarter worth approximately $4,342,000. Syntal Capital Partners LLC boosted its stake in shares of Amazon.com by 133.3% during the 1st quarter. Syntal Capital Partners LLC now owns 1,400 shares of the e-commerce giant’s stock valued at $2,026,000 after buying an additional 800 shares during the period. Unio Capital LLC boosted its stake in shares of Amazon.com by 103.8% during the 1st quarter. Unio Capital LLC now owns 2,933 shares of the e-commerce giant’s stock valued at $4,245,000 after buying an additional 1,494 shares during the period. Vista Equity Partners Management LLC boosted its stake in shares of Amazon.com by 44.3% during the 1st quarter. Vista Equity Partners Management LLC now owns 12,827 shares of the e-commerce giant’s stock valued at $18,565,000 after buying an additional 3,936 shares during the period. Finally, Blue Chip Wealth Management Inc. acquired a new stake in shares of Amazon.com during the 1st quarter valued at $4,430,000. 57.41% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have issued reports on AMZN. Wells Fargo & Co reissued a “buy” rating and set a $2,110.00 target price on shares of Amazon.com in a research note on Tuesday. Robert W. Baird reissued a “buy” rating on shares of Amazon.com in a research note on Monday. Jefferies Financial Group reissued a “buy” rating on shares of Amazon.com in a research note on Thursday, August 30th. Macquarie reissued a “buy” rating on shares of Amazon.com in a research note on Wednesday, August 29th. Finally, Morgan Stanley reissued an “overweight” rating and set a $2,500.00 target price (up previously from $1,850.00) on shares of Amazon.com in a research note on Wednesday, August 29th. Two analysts have rated the stock with a hold rating, forty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Amazon.com presently has a consensus rating of “Buy” and an average price target of $1,957.92.

In related news, Director Tom A. Alberg sold 2,320 shares of Amazon.com stock in a transaction on Monday, August 6th. The shares were sold at an average price of $1,827.29, for a total value of $4,239,312.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Thomas O. Ryder sold 5,000 shares of Amazon.com stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $1,783.81, for a total transaction of $8,919,050.00. Following the completion of the transaction, the director now owns 10,752 shares in the company, valued at approximately $19,179,525.12. The disclosure for this sale can be found here. Insiders sold a total of 21,308 shares of company stock worth $39,933,558 in the last quarter. Insiders own 16.30% of the company’s stock.

Shares of AMZN opened at $2,039.51 on Wednesday. The firm has a market capitalization of $981.68 billion, a P/E ratio of 182.64, a PEG ratio of 4.29 and a beta of 1.60. Amazon.com, Inc. has a one year low of $931.75 and a one year high of $2,050.50. The company has a current ratio of 1.07, a quick ratio of 0.78 and a debt-to-equity ratio of 0.70.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, July 26th. The e-commerce giant reported $5.07 EPS for the quarter, topping the consensus estimate of $2.49 by $2.58. The firm had revenue of $52.89 billion for the quarter, compared to the consensus estimate of $53.37 billion. Amazon.com had a net margin of 3.02% and a return on equity of 18.47%. The business’s quarterly revenue was up 39.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 EPS. research analysts expect that Amazon.com, Inc. will post 17.69 EPS for the current fiscal year.

About Amazon.com

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 vendors, as well as those offered by third-party sellers through physical stores and retail Websites, such as amazon.com, amazon.ca, amazon.com.mx, amazon.com.au, amazon.com.br, amazon.cn, amazon.fr, amazon.de, amazon.in, amazon.it, amazon.co.jp, amazon.nl, amazon.es, and amazon.co.uk.

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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