Montgomery Investment Management Inc. raised its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN – Get Rating) by 1,900.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,300 shares of the e-commerce giant's stock after purchasing an additional 2,185 shares during the quarter. Montgomery Investment Management Inc.'s holdings in Amazon.com were worth $244,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in AMZN. Jennison Associates LLC increased its position in Amazon.com by 1,764.2% during the 2nd quarter. Jennison Associates LLC now owns 48,142,889 shares of the e-commerce giant's stock valued at $5,113,256,000 after purchasing an additional 45,560,351 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in Amazon.com by 1,923.1% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 27,747,428 shares of the e-commerce giant's stock valued at $2,947,054,000 after purchasing an additional 26,375,927 shares during the period. TD Asset Management Inc. increased its position in Amazon.com by 1,795.3% during the 2nd quarter. TD Asset Management Inc. now owns 18,043,695 shares of the e-commerce giant's stock valued at $1,916,420,000 after purchasing an additional 17,091,671 shares during the period. CIBC Private Wealth Group LLC grew its position in shares of Amazon.com by 1,969.8% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 12,249,826 shares of the e-commerce giant's stock worth $1,301,054,000 after buying an additional 11,657,996 shares during the period. Finally, New York State Teachers Retirement System grew its position in shares of Amazon.com by 1,895.2% in the 2nd quarter. New York State Teachers Retirement System now owns 10,349,048 shares of the e-commerce giant's stock worth $1,099,172,000 after buying an additional 9,830,359 shares during the period. 57.15% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Trading Down 0.8 %

Amazon.com stock opened at $93.41 on Friday. The firm has a 50 day moving average of $107.80 and a 200 day moving average of $116.45. The firm has a market capitalization of $952.94 billion, a price-to-earnings ratio of 85.74, a P/E/G ratio of 6.29 and a beta of 1.23. Amazon.com, Inc. has a 12-month low of $85.87 and a 12-month high of $181.68. The company has a current ratio of 0.94, a quick ratio of 0.68 and a debt-to-equity ratio of 0.43.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Adam Selipsky sold 345 shares of the stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $102.00, for a total transaction of $35,190.00. Following the completion of the sale, the chief executive officer now directly owns 112,795 shares of the company's stock, valued at approximately $11,505,090. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Amazon.com news, CEO Douglas J. Herrington sold 7,456 shares of the stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $94.00, for a total transaction of $700,864.00. Following the completion of the sale, the chief executive officer now directly owns 533,435 shares of the company's stock, valued at approximately $50,142,890. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Adam Selipsky sold 345 shares of the stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $102.00, for a total transaction of $35,190.00. Following the sale, the chief executive officer now directly owns 112,795 shares of the company's stock, valued at $11,505,090. The disclosure for this sale can be found here. Insiders sold a total of 303,988 shares of company stock valued at $11,164,283 in the last three months. 12.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AMZN. Needham & Company LLC reduced their target price on shares of Amazon.com from $175.00 to $120.00 and set a "buy" rating on the stock in a research report on Friday, October 28th. Wells Fargo & Company reduced their target price on shares of Amazon.com from $200.00 to $155.00 and set an "overweight" rating on the stock in a research report on Friday, October 28th. Atlantic Securities reduced their target price on shares of Amazon.com from $160.00 to $120.00 and set an "overweight" rating on the stock in a research report on Friday, October 28th. Barclays reduced their target price on shares of Amazon.com from $200.00 to $140.00 and set an "overweight" rating on the stock in a research report on Friday, October 28th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $175.00 target price on shares of Amazon.com in a research report on Thursday, August 4th. Two analysts have rated the stock with a sell rating, three have given a hold rating and forty-one have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $149.40.

Amazon.com Profile

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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). It sells merchandise and content purchased for resale from third-party sellers through physical and online stores.

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