Meridian Management Co. Purchases 7,246 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Meridian Management Co. grew its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 27.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,460 shares of the e-commerce giant's stock after purchasing an additional 7,246 shares during the period. Amazon.com comprises 1.6% of Meridian Management Co.'s portfolio, making the stock its 18th largest holding. Meridian Management Co.'s holdings in Amazon.com were worth $6,235,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Legal & General Group Plc increased its position in Amazon.com by 1.5% in the 2nd quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant's stock worth $13,466,933,000 after purchasing an additional 1,042,177 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Amazon.com by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant's stock valued at $13,091,909,000 after buying an additional 289,532 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Amazon.com by 3.4% in the second quarter. Ameriprise Financial Inc. now owns 40,973,804 shares of the e-commerce giant's stock worth $7,917,906,000 after buying an additional 1,329,150 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Amazon.com by 1.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 31,883,977 shares of the e-commerce giant's stock valued at $6,161,579,000 after acquiring an additional 464,938 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Amazon.com by 1.8% in the second quarter. American Century Companies Inc. now owns 27,389,657 shares of the e-commerce giant's stock valued at $5,293,051,000 after acquiring an additional 491,009 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on AMZN shares. Royal Bank of Canada raised their price target on shares of Amazon.com from $215.00 to $225.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Roth Mkm boosted their price target on Amazon.com from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. DA Davidson reiterated a "buy" rating and set a $235.00 price target on shares of Amazon.com in a research note on Thursday, October 10th. Bank of America raised their price objective on Amazon.com from $210.00 to $230.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Finally, Susquehanna increased their price target on Amazon.com from $220.00 to $230.00 and gave the company a "positive" rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Amazon.com currently has an average rating of "Moderate Buy" and a consensus price target of $243.00.

Insider Transactions at Amazon.com

In related news, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction on Friday, November 8th. The stock was sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the completion of the sale, the insider now directly owns 917,416,976 shares of the company's stock, valued at $191,602,535,437.60. The trade was a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jonathan Rubinstein sold 4,351 shares of the company's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $229.85, for a total value of $1,000,077.35. Following the completion of the sale, the director now owns 88,203 shares of the company's stock, valued at $20,273,459.55. This represents a 4.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,034,534 shares of company stock worth $1,253,883,872 over the last 90 days. 10.80% of the stock is owned by insiders.

Amazon.com Price Performance

Shares of Amazon.com stock traded up $1.38 during trading on Monday, reaching $226.30. The company's stock had a trading volume of 9,827,518 shares, compared to its average volume of 41,290,434. Amazon.com, Inc. has a one year low of $144.05 and a one year high of $233.00. The stock has a 50-day moving average price of $205.83 and a two-hundred day moving average price of $191.38. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $2.38 trillion, a P/E ratio of 48.46, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business had revenue of $158.88 billion for the quarter, compared to analysts' expectations of $157.28 billion. During the same period in the prior year, the firm earned $0.85 earnings per share. Amazon.com's revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Amazon.com, Inc. will post 5.29 EPS for the current fiscal 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.