KLP Kapitalforvaltning AS Invests $697.90 Million in Amazon.com, Inc. (NASDAQ:AMZN)

KLP Kapitalforvaltning AS bought a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,181,100 shares of the e-commerce giant's stock, valued at approximately $697,902,000. Amazon.com makes up about 3.3% of KLP Kapitalforvaltning AS's holdings, making the stock its 4th biggest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cable Hill Partners LLC grew its position in shares of Amazon.com by 0.5% during the 4th quarter. Cable Hill Partners LLC now owns 9,588 shares of the e-commerce giant's stock worth $2,104,000 after buying an additional 44 shares in the last quarter. Quattro Financial Advisors LLC lifted its position in Amazon.com by 23.8% during the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant's stock valued at $51,000 after acquiring an additional 45 shares during the last quarter. Northern Capital Management Inc. grew its stake in Amazon.com by 0.6% during the 4th quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant's stock worth $1,613,000 after buying an additional 45 shares during the last quarter. White Wing Wealth Management grew its stake in Amazon.com by 2.4% during the 4th quarter. White Wing Wealth Management now owns 1,972 shares of the e-commerce giant's stock worth $433,000 after buying an additional 47 shares during the last quarter. Finally, MBM Wealth Consultants LLC increased its position in Amazon.com by 0.6% during the 4th quarter. MBM Wealth Consultants LLC now owns 8,578 shares of the e-commerce giant's stock valued at $1,889,000 after buying an additional 48 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Amazon.com Trading Up 1.3 %

AMZN traded up $2.45 during trading hours on Friday, reaching $188.99. The company's stock had a trading volume of 36,349,105 shares, compared to its average volume of 41,921,682. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The business's 50-day moving average is $193.52 and its 200-day moving average is $207.75. The stock has a market cap of $2.00 trillion, a PE ratio of 34.18, a P/E/G ratio of 1.50 and a beta of 1.39. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted 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 net margin of 9.29% and a return on equity of 24.25%. As a group, equities research analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Douglas J. Herrington sold 2,500 shares of the company's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $187.99, for a total transaction of $469,975.00. Following the sale, the chief executive officer now owns 509,474 shares of the company's stock, valued at approximately $95,776,017.26. This represents a 0.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $220.65, for a total value of $4,585,989.60. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold 104,798 shares of company stock worth $23,341,803 over the last three months. Company insiders own 10.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AMZN. Wolfe Research boosted their price target on Amazon.com from $250.00 to $270.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Wedbush restated an "outperform" rating and set a $280.00 price target on shares of Amazon.com in a research note on Friday, February 7th. Morgan Stanley lowered their price objective on shares of Amazon.com from $280.00 to $245.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Citizens Jmp reduced their target price on Amazon.com from $285.00 to $240.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Finally, Phillip Securities downgraded Amazon.com from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, February 10th. Two analysts have rated the stock with a hold rating and forty-five have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $247.56.

Amazon.com 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.