Sawgrass Asset Management LLC Has $68.70 Million Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Sawgrass Asset Management LLC boosted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 65.0% in the second quarter, according to the company in its most recent Form 13F 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 quarter. Amazon.com comprises approximately 5.1% of Sawgrass Asset Management LLC’s investment portfolio, 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.

Other hedge funds also recently added to or reduced their stakes in the company. Woodstock Corp boosted its position in shares of Amazon.com by 10.6% in the first quarter. Woodstock Corp now owns 178 shares of the e-commerce giant’s stock valued at $347,000 after acquiring an additional 17 shares during the period. Global Trust Asset Management LLC boosted its position in shares of Amazon.com by 355.6% in the first quarter. Global Trust Asset Management LLC now owns 1,886 shares of the e-commerce giant’s stock valued at $3,704,000 after acquiring an additional 1,472 shares during the period. Foundations Investment Advisors LLC boosted its position in shares of Amazon.com by 11.1% in the first quarter. Foundations Investment Advisors LLC now owns 490 shares of the e-commerce giant’s stock valued at $935,000 after acquiring an additional 49 shares during the period. Chemung Canal Trust Co. boosted its position in shares of Amazon.com by 52.9% in the first quarter. Chemung Canal Trust Co. now owns 3,031 shares of the e-commerce giant’s stock valued at $5,909,000 after acquiring an additional 1,049 shares during the period. Finally, RDA Financial Network boosted its position in shares of Amazon.com by 4.7% in the first quarter. RDA Financial Network now owns 877 shares of the e-commerce giant’s stock valued at $1,710,000 after acquiring an additional 39 shares during the period. 64.54% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on AMZN. Goldman Sachs Group boosted their target price on shares of Amazon.com from $3,800.00 to $4,200.00 and gave the company a “conviction-buy” rating in a research report on Friday. JPMorgan Chase & Co. boosted their price target on Amazon.com from $3,000.00 to $4,050.00 and gave the company an “overweight” rating in a research note on Friday. Robert W. Baird boosted their price target on Amazon.com from $3,000.00 to $3,500.00 in a research note on Friday. Mizuho boosted their price target on Amazon.com from $3,450.00 to $3,700.00 and gave the company a “buy” rating in a research note on Friday. Finally, Monness Crespi & Hardt boosted their price target on Amazon.com from $3,500.00 to $3,750.00 and gave the company a “buy” rating in a research note on Friday. One 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 issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $3,240.51.

In related news, CEO Andrew R. Jassy sold 6,945 shares of the company’s 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 value of $15,671,392.50. Following the sale, the chief executive officer now directly owns 93,105 shares in the company, valued at $210,091,432.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Patricia Q. Stonesifer sold 2,200 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $2,329.44, for a total value of $5,124,768.00. Following the transaction, the director now owns 4,645 shares in the company, valued at $10,820,248.80. The disclosure for this sale can be found here. Corporate insiders own 16.10% of the company’s stock.

Shares of AMZN stock opened at $3,164.68 on Friday. The business’s 50 day simple moving average is $2,884.55 and its 200 day simple moving average is $2,314.52. Amazon.com, Inc. has a one year low of $1,626.03 and a one year high of $3,344.29. The stock has a market capitalization of $1,578.47 billion, a PE ratio of 121.67, a PEG ratio of 5.83 and a beta of 1.32. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.08 and a quick ratio of 0.84.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, July 30th. The e-commerce giant reported $10.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $8.56. Amazon.com had a return on equity of 21.51% and a net margin of 4.10%. The business had revenue of $88.91 billion for the quarter, compared to analysts’ expectations of $81.56 billion. As a group, research analysts expect that Amazon.com, Inc. will post 20.12 earnings per share for the current year.

Amazon.com Profile

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

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