Lake Street Financial LLC Boosts Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

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Lake Street Financial LLC raised its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 28.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,594 shares of the e-commerce giant’s stock after buying an additional 579 shares during the period. Amazon.com accounts for approximately 2.9% of Lake Street Financial LLC’s portfolio, making the stock its 5th biggest holding. Lake Street Financial LLC’s holdings in Amazon.com were worth $4,912,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Signet Investment Advisory Group Inc. bought a new stake in shares of Amazon.com in the 4th quarter valued at $33,000. Financial Advantage Inc. bought a new stake in shares of Amazon.com in the 4th quarter valued at $45,000. Mascoma Wealth Management LLC increased its position in shares of Amazon.com by 15.6% in the 4th quarter. Mascoma Wealth Management LLC now owns 52 shares of the e-commerce giant’s stock valued at $78,000 after buying an additional 7 shares in the last quarter. Contravisory Investment Management Inc. increased its position in shares of Amazon.com by 20.6% in the 2nd quarter. Contravisory Investment Management Inc. now owns 41 shares of the e-commerce giant’s stock valued at $78,000 after buying an additional 7 shares in the last quarter. Finally, Jackson Grant Investment Advisers Inc. increased its position in shares of Amazon.com by 18.4% in the 4th quarter. Jackson Grant Investment Advisers Inc. now owns 58 shares of the e-commerce giant’s stock valued at $87,000 after buying an additional 9 shares in the last quarter. Institutional investors own 57.17% of the company’s stock.

Amazon.com stock opened at $1,792.28 on Wednesday. The company has a market cap of $894.13 billion, a PE ratio of 88.49, a P/E/G ratio of 2.29 and a beta of 1.55. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.84 and a current ratio of 1.10. Amazon.com, Inc. has a twelve month low of $1,307.00 and a twelve month high of $2,050.50. The firm has a 50-day moving average of $1,915.48.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, July 25th. The e-commerce giant reported $5.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $5.29 by ($0.07). The company had revenue of $63.40 billion during the quarter, compared to the consensus estimate of $62.59 billion. Amazon.com had a net margin of 4.80% and a return on equity of 26.27%. The firm’s revenue was up 19.9% compared to the same quarter last year. During the same period in the prior year, the company earned $5.07 earnings per share. As a group, equities analysts forecast that Amazon.com, Inc. will post 24.52 EPS for the current year.

AMZN has been the subject of a number of recent analyst reports. Cowen set a $2,500.00 price objective on shares of Amazon.com and gave the company a “buy” rating in a research report on Monday, July 15th. Mizuho restated a “buy” rating and issued a $2,200.00 price objective (up previously from $2,080.00) on shares of Amazon.com in a research report on Friday, July 26th. Aegis reaffirmed a “buy” rating and issued a $2,250.00 target price (up from $2,225.00) on shares of Amazon.com in a research note on Friday, April 26th. Morgan Stanley reaffirmed an “overweight” rating and issued a $2,300.00 target price (up from $2,100.00) on shares of Amazon.com in a research note on Monday, July 15th. Finally, Barclays raised shares of Amazon.com from an “outperform” rating to a “buy” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and forty-two have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $2,251.95.

In other news, insider David Zapolsky sold 763 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $2,000.00, for a total transaction of $1,526,000.00. Following the transaction, the insider now directly owns 2,698 shares of the company’s stock, valued at $5,396,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey A. Wilke sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $1,858.25, for a total transaction of $1,858,250.00. Following the transaction, the chief executive officer now directly owns 10,000 shares in the company, valued at $18,582,500. The disclosure for this sale can be found here. Insiders have sold 9,071 shares of company stock worth $18,000,250 over the last ninety days. Insiders own 16.10% of the company’s stock.

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 third-party sellers through physical stores and online stores.

Further Reading: Bid-Ask Spread

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

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