Concorde Asset Management LLC Takes Position in Amazon.com, Inc. (AMZN)

Concorde Asset Management LLC bought a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 499 shares of the e-commerce giant’s stock, valued at approximately $483,000.

Several other hedge funds have also recently made changes to their positions in AMZN. Baltimore Washington Financial Advisors Inc. purchased a new stake in shares of Amazon.com during the fourth quarter valued at approximately $23,951,000. OLD Second National Bank of Aurora raised its position in Amazon.com by 15.0% in the first quarter. OLD Second National Bank of Aurora now owns 115 shares of the e-commerce giant’s stock valued at $102,000 after buying an additional 15 shares during the last quarter. LeJeune Puetz Investment Counsel LLC bought a new position in Amazon.com during the second quarter valued at $116,000. Ibex Wealth Advisors bought a new position in Amazon.com during the fourth quarter valued at $113,000. Finally, Lipe & Dalton bought a new position in Amazon.com during the first quarter valued at $124,000. Institutional investors own 62.48% of the company’s stock.

Shares of Amazon.com, Inc. (NASDAQ AMZN) traded down 2.48% during midday trading on Friday, reaching $1020.04. The company had a trading volume of 7,709,420 shares. The company has a market capitalization of $489.62 billion, a P/E ratio of 259.42 and a beta of 1.48. The company’s 50 day moving average price is $998.12 and its 200-day moving average price is $914.29. Amazon.com, Inc. has a 52 week low of $710.10 and a 52 week high of $1,083.31. Amazon.com also saw unusually large options trading on Thursday. Stock investors acquired 74,508 put options on the stock. This represents an increase of approximately 141% compared to the average volume of 30,945 put options.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, July 27th. The e-commerce giant reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.40 by $1.00. Amazon.com had a return on equity of 9.82% and a net margin of 1.28%. The company had revenue of $37.96 billion for the quarter, compared to analysts’ expectations of $37.18 billion. During the same quarter last year, the company earned $1.78 EPS. Amazon.com’s revenue for the quarter was up 24.8% compared to the same quarter last year. On average, equities research analysts predict that Amazon.com, Inc. will post $6.72 earnings per share for the current fiscal year.

Several equities analysts recently weighed in on AMZN shares. William Blair restated a “buy” rating on shares of Amazon.com in a research report on Sunday, April 2nd. Vetr lowered shares of Amazon.com from a “hold” rating to a “sell” rating and set a $861.67 price target for the company. in a research report on Monday, April 3rd. BMO Capital Markets restated an “outperform” rating and set a $1,200.00 price target (up previously from $900.00) on shares of Amazon.com in a research report on Tuesday, April 4th. Robert W. Baird restated an “outperform” rating and set a $850.00 price target on shares of Amazon.com in a research report on Thursday, April 6th. Finally, Needham & Company LLC upgraded shares of Amazon.com from a “hold” rating to a “buy” rating and set a $1,000.00 price target for the company in a research report on Monday, April 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and forty-five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $1,040.46.

In other news, CEO Jeffrey P. Bezos sold 1,000,000 shares of the company’s stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $940.74, for a total transaction of $940,740,000.00. Following the completion of the transaction, the chief executive officer now directly owns 80,857,196 shares of the company’s stock, valued at approximately $76,065,598,565.04. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider David Zapolsky sold 505 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $946.59, for a total value of $478,027.95. Following the transaction, the insider now directly owns 2,018 shares of the company’s stock, valued at $1,910,218.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,014,090 shares of company stock worth $954,546,394. 17.70% of the stock is owned by company insiders.

Amazon.com Company Profile

Amazon.com, Inc offers a range of products and services through its Websites. The Company operates through three segments: North America, International and Amazon Web Services (AWS). The North America segment consists of retail sales of consumer products (including from sellers) and subscriptions through North America-focused Websites, such as www.amazon.com, www.amazon.ca and www.amazon.com.mx.