Ascent Capital Management LLC Takes $4.23 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Ascent Capital Management LLC acquired a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 19,273 shares of the e-commerce giant's stock, valued at approximately $4,228,000. Amazon.com accounts for 4.3% of Ascent Capital Management LLC's portfolio, making the stock its 6th biggest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMZN. Accordant Advisory Group Inc boosted its holdings in Amazon.com by 400.0% during the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant's stock worth $27,000 after buying an additional 100 shares in the last quarter. Icon Wealth Advisors LLC increased its stake in Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant's stock worth $28,000 after purchasing an additional 25,581 shares in the last quarter. Quattro Financial Advisors LLC increased its position in shares of Amazon.com by 23.8% in the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant's stock worth $51,000 after acquiring an additional 45 shares in the last quarter. Compass Planning Associates Inc purchased a new stake in shares of Amazon.com in the 4th quarter valued at approximately $51,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new stake in Amazon.com during the 4th quarter valued at $54,000. Institutional investors own 72.20% of the company's stock.

Insiders Place Their Bets

In other news, CEO Andrew R. Jassy sold 20,784 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $220.65, for a total value of $4,585,989.60. Following the transaction, the chief executive officer now directly owns 2,118,886 shares in the company, valued at $467,532,195.90. This trade represents a 0.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas J. Herrington sold 2,500 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total value of $469,975.00. Following the completion of the sale, the chief executive officer now owns 509,474 shares of the company's stock, valued at $95,776,017.26. This represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 104,798 shares of company stock valued at $23,341,803. 10.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on AMZN shares. DA Davidson lowered their target price on Amazon.com from $280.00 to $230.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Oppenheimer upped their price objective on shares of Amazon.com from $230.00 to $260.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Amazon.com from $287.00 to $206.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Rosenblatt Securities boosted their target price on Amazon.com from $236.00 to $287.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Finally, Truist Financial reduced their price target on Amazon.com from $265.00 to $230.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Two investment analysts have rated the stock with a hold rating, forty-four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $252.73.

Amazon.com Price Performance

NASDAQ AMZN traded down $1.82 on Friday, hitting $172.51. 44,456,290 shares of the company were exchanged, compared to its average volume of 41,728,394. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52. The company has a market cap of $1.83 trillion, a P/E ratio of 31.19, a P/E/G ratio of 1.50 and a beta of 1.39. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. The firm has a 50 day moving average of $198.44 and a two-hundred day moving average of $208.23.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. On average, equities analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current year.

Amazon.com 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.