Connor Clark & Lunn Investment Management Ltd. grew its position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 74.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 803,333 shares of the e-commerce giant's stock after buying an additional 342,562 shares during the quarter. Amazon.com makes up approximately 0.8% of Connor Clark & Lunn Investment Management Ltd.'s portfolio, making the stock its 27th largest position. Connor Clark & Lunn Investment Management Ltd.'s holdings in Amazon.com were worth $176,243,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of AMZN. Proficio Capital Partners LLC boosted its holdings in Amazon.com by 17,054.5% during the fourth quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant's stock valued at $2,652,116,000 after purchasing an additional 12,018,120 shares in the last quarter. Parnassus Investments LLC lifted its holdings in shares of Amazon.com by 82,457.3% during the third quarter. Parnassus Investments LLC now owns 11,405,294 shares of the e-commerce giant's stock valued at $2,125,148,000 after acquiring an additional 11,391,479 shares during the period. State Street Corp boosted its stake in shares of Amazon.com by 3.3% in the 3rd quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant's stock valued at $66,926,008,000 after purchasing an additional 11,370,309 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Amazon.com by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant's stock worth $37,116,341,000 after purchasing an additional 6,545,944 shares during the last quarter. Finally, Strategic Financial Concepts LLC lifted its holdings in Amazon.com by 23,742.9% during the 4th quarter. Strategic Financial Concepts LLC now owns 5,102,618 shares of the e-commerce giant's stock valued at $1,119,463,000 after purchasing an additional 5,081,217 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.
Analyst Ratings Changes
AMZN has been the subject of a number of research analyst reports. Jefferies Financial Group cut their target price on shares of Amazon.com from $275.00 to $250.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Bank of America decreased their target price on Amazon.com from $257.00 to $225.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Stifel Nicolaus boosted their target price on shares of Amazon.com from $245.00 to $275.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Scotiabank upped their price objective on Amazon.com from $246.00 to $306.00 and gave the stock a "sector outperform" rating in a report on Friday, January 24th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $265.00 price target (up previously from $225.00) on shares of Amazon.com in a report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating, forty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $252.73.
Check Out Our Latest Report on Amazon.com
Amazon.com Price Performance
NASDAQ:AMZN traded down $1.25 on Thursday, hitting $173.08. The company had a trading volume of 11,979,628 shares, compared to its average volume of 45,234,086. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $1.83 trillion, a price-to-earnings ratio of 31.30, a PEG ratio of 1.50 and a beta of 1.39. The firm has a 50 day moving average of $200.86 and a two-hundred day moving average of $208.06.
Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, topping analysts' consensus estimates of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. On average, research analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current year.
Insider Buying and Selling
In other news, CFO Brian T. Olsavsky sold 14,620 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $223.14, for a total transaction of $3,262,306.80. Following the completion of the sale, the chief financial officer now directly owns 49,000 shares in the company, valued at $10,933,860. This represents a 22.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Douglas J. Herrington sold 2,500 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total transaction of $469,975.00. Following the sale, the chief executive officer now directly owns 509,474 shares in the company, valued at $95,776,017.26. This trade represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 104,798 shares of company stock valued at $23,341,803 in the last three months. Insiders own 10.80% of the company's stock.
About Amazon.com
(
Free Report)
Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.
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