SP Asset Management Raises Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

SP Asset Management lifted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2,648.5% in the 2nd quarter, Holdings Channel reports. The firm owned 126,210 shares of the e-commerce giant’s stock after acquiring an additional 121,618 shares during the period. Amazon.com comprises 1.7% of SP Asset Management’s investment portfolio, making the stock its 17th largest holding. SP Asset Management’s holdings in Amazon.com were worth $13,405,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Jennison Associates LLC lifted its position 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 buying an additional 45,560,351 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position 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 buying an additional 26,375,927 shares during the last quarter. New York State Teachers Retirement System lifted its position 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 buying an additional 9,830,359 shares during the last quarter. Brown Advisory Inc. lifted its position 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 buying an additional 9,129,976 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in 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 last quarter. Hedge funds and other institutional investors own 57.15% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on AMZN shares. Atlantic Securities dropped their target price on Amazon.com from $160.00 to $120.00 and set an “overweight” rating for the company in a research report on Friday, October 28th. Wolfe Research lowered their price objective on Amazon.com from $150.00 to $130.00 and set an “outperform” rating for the company in a research report on Friday, October 28th. Bank of America lowered their price objective on Amazon.com from $157.00 to $137.00 and set a “buy” rating for the company in a research report on Friday, October 28th. Telsey Advisory Group lowered their price objective on Amazon.com from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Friday, October 28th. Finally, Erste Group Bank downgraded Amazon.com from a “buy” rating to a “hold” rating in a research report on Friday, November 18th. Two 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 stock. Based on data from MarketBeat.com, Amazon.com has a consensus rating of “Moderate Buy” and a consensus price target of $150.77.

Amazon.com Trading Up 0.8 %

NASDAQ AMZN opened at $93.20 on Wednesday. Amazon.com, Inc. has a 12 month low of $85.87 and a 12 month high of $181.68. The stock has a market cap of $950.79 billion, a P/E ratio of 85.54, a P/E/G ratio of 6.29 and a beta of 1.23. The stock’s fifty day moving average price is $109.13 and its 200-day moving average price is $116.76. The company has a current ratio of 0.94, a quick ratio of 0.68 and a debt-to-equity ratio of 0.43.

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

Insider Activity

In other news, CEO Adam Selipsky sold 520 shares of the company’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $127.43, for a total transaction of $66,263.60. Following the transaction, the chief executive officer now directly owns 115,680 shares of the company’s stock, valued at $14,741,102.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Douglas J. Herrington sold 15,787 shares of the company’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $103.10, for a total transaction of $1,627,639.70. Following 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 SEC, which is available at the SEC website. Also, CEO Adam Selipsky sold 520 shares of the company’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $127.43, for a total value of $66,263.60. Following the transaction, the chief executive officer now directly owns 115,680 shares in the company, valued at $14,741,102.40. The disclosure for this sale can be found here. Insiders have sold a total of 269,412 shares of company stock valued at $7,914,139 over the last ninety days. 12.70% of the stock is currently owned by corporate insiders.

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

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