Veritas Asset Management LLP Grows Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Veritas Asset Management LLP grew its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2,140.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 5,651,487 shares of the e-commerce giant’s stock after purchasing an additional 5,399,202 shares during the quarter. Amazon.com makes up approximately 4.5% of Veritas Asset Management LLP’s investment portfolio, making the stock its 13th largest position. Veritas Asset Management LLP’s holdings in Amazon.com were worth $600,244,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jennison Associates LLC increased its holdings in 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 acquiring an additional 45,560,351 shares in the last quarter. Vanguard Group Inc. increased its holdings in Amazon.com by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 33,965,498 shares of the e-commerce giant’s stock worth $110,725,825,000 after acquiring an additional 543,744 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in 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 acquiring an additional 26,375,927 shares in the last quarter. New York State Teachers Retirement System increased its holdings in 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 acquiring an additional 9,830,359 shares in the last quarter. Finally, Brown Advisory Inc. increased its holdings in 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 acquiring an additional 9,129,976 shares in the last quarter. Hedge funds and other institutional investors own 57.15% of the company’s stock.

Insider Buying and Selling

In related news, Director Daniel P. Huttenlocher sold 1,720 shares of Amazon.com stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $95.70, for a total transaction of $164,604.00. Following the completion of the sale, the director now owns 22,440 shares of the company’s stock, valued at $2,147,508. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Amazon.com news, CEO Douglas J. Herrington sold 15,787 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $103.10, for a total value of $1,627,639.70. Following the completion of the transaction, the chief executive officer now directly owns 522,251 shares of the company’s stock, valued at $53,844,078.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,720 shares of the business’s stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $95.70, for a total value of $164,604.00. Following the completion of the transaction, the director now directly owns 22,440 shares of the company’s stock, valued at $2,147,508. The disclosure for this sale can be found here. Insiders sold 269,412 shares of company stock valued at $7,914,139 over the last quarter. 12.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on AMZN. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Amazon.com from $150.00 to $130.00 and set a “buy” rating for the company in a report on Friday, October 28th. Wolfe Research cut their price objective on shares of Amazon.com from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, October 28th. Wedbush cut their price objective on shares of Amazon.com from $175.00 to $140.00 and set an “outperform” rating for the company in a report on Friday, October 28th. Needham & Company LLC lowered their target price on Amazon.com from $175.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, October 28th. Finally, JPMorgan Chase & Co. lowered their target price on Amazon.com from $175.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, October 28th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and forty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $150.89.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $94.14 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.68 and a current ratio of 0.94. The company has a market cap of $960.38 billion, a PE ratio of 86.41, a P/E/G ratio of 7.48 and a beta of 1.23. The business has a 50-day simple moving average of $110.68 and a two-hundred day simple moving average of $117.08. Amazon.com, Inc. has a fifty-two week low of $85.87 and a fifty-two week high of $188.11.

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

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.

Further Reading

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

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