Coronation Fund Managers Ltd. Has $53.58 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Coronation Fund Managers Ltd. cut its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 7.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 244,223 shares of the e-commerce giant's stock after selling 19,558 shares during the period. Amazon.com comprises about 3.2% of Coronation Fund Managers Ltd.'s holdings, making the stock its 11th largest position. Coronation Fund Managers Ltd.'s holdings in Amazon.com were worth $53,580,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Accordant Advisory Group Inc grew its position in shares of Amazon.com by 400.0% in the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant's stock valued at $27,000 after purchasing an additional 100 shares during the period. Icon Wealth Advisors LLC grew its holdings in Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant's stock valued at $28,000 after buying an additional 25,581 shares during the period. Hoese & Co LLP purchased a new position in Amazon.com during the third quarter worth approximately $37,000. Bull Oak Capital LLC purchased a new position in shares of Amazon.com in the 3rd quarter worth $45,000. Finally, Quattro Financial Advisors LLC lifted its stake in shares of Amazon.com by 23.8% in the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant's stock valued at $51,000 after purchasing an additional 45 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In related news, CEO Andrew R. Jassy sold 20,784 shares of the company's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $220.65, for a total transaction of $4,585,989.60. Following the completion of the transaction, the chief executive officer now directly owns 2,118,886 shares in the company, valued at $467,532,195.90. This represents a 0.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Shelley Reynolds sold 8,833 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $222.47, for a total transaction of $1,965,077.51. Following the completion of the transaction, the vice president now directly owns 119,780 shares of the company's stock, valued at approximately $26,647,456.60. The trade was a 6.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 102,298 shares of company stock worth $22,871,828. Corporate insiders own 10.80% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on AMZN. Wells Fargo & Company lowered their target price on Amazon.com from $207.00 to $203.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 25th. Maxim Group lifted their price objective on shares of Amazon.com from $260.00 to $280.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Royal Bank of Canada increased their price target on Amazon.com from $255.00 to $265.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. UBS Group lifted their price objective on shares of Amazon.com from $230.00 to $264.00 and gave the company a "buy" rating in a research report on Monday, December 16th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $236.00 price target on shares of Amazon.com in a report on Tuesday, December 3rd. Two investment analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $260.65.

Amazon.com Stock Performance

Shares of NASDAQ:AMZN traded up $2.05 on Tuesday, reaching $196.59. 52,319,970 shares of the company's stock were exchanged, compared to its average volume of 39,196,863. The company has a fifty day moving average of $223.57 and a 200-day moving average of $207.12. Amazon.com, Inc. has a twelve month low of $151.61 and a twelve month 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 company has a market capitalization of $2.08 trillion, a price-to-earnings ratio of 35.55, a PEG ratio of 1.50 and a beta of 1.19.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate 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 predict that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Amazon.com Company Profile

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.