Kayne Anderson Rudnick Investment Management LLC Cuts Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Kayne Anderson Rudnick Investment Management LLC reduced its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 4.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 577,815 shares of the e-commerce giant’s stock after selling 26,849 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Amazon.com were worth $111,663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in AMZN. Vanguard Group Inc. grew its holdings in shares of Amazon.com by 1.9% in the first quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after purchasing an additional 14,724,687 shares in the last quarter. Swedbank AB purchased a new position in shares of Amazon.com in the first quarter valued at $2,239,757,000. Capital World Investors grew its holdings in shares of Amazon.com by 64.6% in the first quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock valued at $5,295,899,000 after purchasing an additional 11,524,463 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Amazon.com by 8.5% in the first quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock valued at $15,689,968,000 after purchasing an additional 6,810,145 shares in the last quarter. Finally, Global Assets Advisory LLC grew its holdings in shares of Amazon.com by 30,350.2% in the first quarter. Global Assets Advisory LLC now owns 6,531,569 shares of the e-commerce giant’s stock valued at $1,178,164,000 after purchasing an additional 6,510,119 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Brian T. Olsavsky sold 14,600 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the transaction, the chief financial officer now owns 49,000 shares in the company, valued at $8,820,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, SVP David Zapolsky sold 2,190 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the transaction, the senior vice president now owns 62,420 shares in the company, valued at $12,171,900. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Brian T. Olsavsky sold 14,600 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the transaction, the chief financial officer now owns 49,000 shares in the company, valued at approximately $8,820,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,355 shares of company stock worth $9,877,423. 10.80% of the stock is owned by corporate insiders.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $189.07 on Tuesday. The company has a market capitalization of $1.97 trillion, a PE ratio of 52.96, a P/E/G ratio of 1.38 and a beta of 1.14. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. The company has a 50-day simple moving average of $182.43 and a two-hundred day simple moving average of $183.50. Amazon.com, Inc. has a one year low of $118.35 and a one year high of $201.20.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. The business had revenue of $147.98 billion during the quarter, compared to the consensus estimate of $148.63 billion. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. Research analysts expect that Amazon.com, Inc. will post 4.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AMZN shares. TD Securities raised their target price on shares of Amazon.com from $225.00 to $245.00 in a report on Wednesday, July 10th. UBS Group raised their target price on shares of Amazon.com from $217.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Wolfe Research began coverage on Amazon.com in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $250.00 price target for the company. Rosenblatt Securities lifted their price objective on shares of Amazon.com from $220.00 to $221.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $240.00 price objective on shares of Amazon.com in a research note on Friday, October 11th. Two equities research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $236.78.

About Amazon.com

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.