Amazon.com, Inc. (NASDAQ:AMZN) Position Lifted by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. grew its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2,516.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 169,583 shares of the e-commerce giant’s stock after purchasing an additional 163,101 shares during the quarter. Amazon.com makes up about 2.6% of LGT Fund Management Co Ltd.’s investment portfolio, making the stock its 7th biggest position. LGT Fund Management Co Ltd.’s holdings in Amazon.com were worth $18,011,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Jennison Associates LLC raised its position in shares of Amazon.com by 1,764.2% in the 2nd quarter. Jennison Associates LLC now owns 48,142,889 shares of the e-commerce giant’s stock worth $5,113,256,000 after buying an additional 45,560,351 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Amazon.com by 1,923.1% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 27,747,428 shares of the e-commerce giant’s stock worth $2,947,054,000 after buying an additional 26,375,927 shares during the period. New York State Teachers Retirement System raised 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. Brown Advisory Inc. raised its position in shares of Amazon.com by 1,644.6% in the 2nd quarter. Brown Advisory Inc. now owns 9,685,141 shares of the e-commerce giant’s stock worth $1,202,879,000 after buying an additional 9,129,976 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Amazon.com by 1,539.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,633,606 shares of the e-commerce giant’s stock worth $1,023,183,000 after buying an additional 9,046,135 shares during the period. Hedge funds and other institutional investors own 57.15% of the company’s stock.

Wall Street Analyst Weigh In

AMZN has been the topic of several research reports. Monness Crespi & Hardt cut their target price on Amazon.com from $172.00 to $136.00 and set a “buy” rating on the stock in a research report on Friday, October 28th. Mizuho cut their price objective on Amazon.com from $155.00 to $135.00 and set a “buy” rating on the stock in a research report on Friday, October 28th. Itau BBA Securities assumed coverage on Amazon.com in a research note on Tuesday, July 26th. They set an “outperform” rating and a $146.00 target price for the company. MKM Partners decreased their price target on Amazon.com to $145.00 in a research note on Tuesday, November 1st. Finally, Atlantic Securities decreased their price target on Amazon.com from $160.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, October 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $150.89.

Amazon.com Stock Down 0.7 %

Amazon.com stock opened at $94.14 on Monday. The firm has a market cap of $960.38 billion, a price-to-earnings ratio of 86.41, a P/E/G ratio of 7.48 and a beta of 1.23. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.68. Amazon.com, Inc. has a fifty-two week low of $85.87 and a fifty-two week high of $188.11. The firm has a fifty day moving average price of $110.68 and a two-hundred day moving average price of $117.08.

Amazon.com (NASDAQ:AMZNGet Rating) last released its earnings results on Thursday, October 27th. The e-commerce giant reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.06. The firm had revenue of $127.10 billion during the quarter, compared to analyst estimates of $127.47 billion. Amazon.com had a net margin of 2.25% and a return on equity of 14.44%. The business’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 EPS. As a group, analysts forecast that Amazon.com, Inc. will post 0.74 earnings per share for the current year.

Insiders Place Their Bets

In other Amazon.com news, CEO Adam Selipsky sold 520 shares of the business’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $127.43, for a total transaction of $66,263.60. Following the completion of the transaction, the chief executive officer now owns 115,680 shares of the company’s stock, valued at approximately $14,741,102.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Adam Selipsky sold 520 shares of the company’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $127.43, for a total transaction of $66,263.60. Following the completion of the transaction, the chief executive officer now owns 115,680 shares of the company’s stock, valued at $14,741,102.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Amazon Com Inc sold 250,000 shares of the company’s stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $23.61, for a total transaction of $5,902,500.00. Following the transaction, the insider now directly owns 14,178,445 shares of the company’s stock, valued at approximately $334,753,086.45. The disclosure for this sale can be found here. Insiders sold a total of 269,412 shares of company stock valued at $7,914,139 in the last quarter. Insiders own 12.70% of the company’s stock.

About Amazon.com

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

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