Veritas Asset Management LLP Raises Position in Amazon.com, Inc. (NASDAQ:AMZN)

Veritas Asset Management LLP grew its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 8.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,742,823 shares of the e-commerce giant’s stock after buying an additional 629,546 shares during the quarter. Amazon.com makes up about 10.7% of Veritas Asset Management LLP’s investment portfolio, making the stock its 2nd biggest position. Veritas Asset Management LLP owned 0.07% of Amazon.com worth $1,442,720,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AMZN. Legal & General Group Plc grew its stake in shares of Amazon.com by 1.5% during the second quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock valued at $13,466,933,000 after purchasing an additional 1,042,177 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Amazon.com by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock valued at $13,091,909,000 after buying an additional 289,532 shares during the period. Ameriprise Financial Inc. lifted its holdings in Amazon.com by 3.4% in the second quarter. Ameriprise Financial Inc. now owns 40,973,804 shares of the e-commerce giant’s stock valued at $7,917,906,000 after buying an additional 1,329,150 shares during the period. International Assets Investment Management LLC lifted its holdings in Amazon.com by 20,897.2% in the third quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after buying an additional 38,949,065 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Amazon.com by 1.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 31,883,977 shares of the e-commerce giant’s stock valued at $6,161,579,000 after buying an additional 464,938 shares during the period. 72.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AMZN shares. Benchmark increased their target price on shares of Amazon.com from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Morgan Stanley increased their target price on shares of Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. JMP Securities increased their target price on shares of Amazon.com from $265.00 to $285.00 and gave the stock a “market outperform” rating in a report on Friday, November 1st. Moffett Nathanson increased their target price on shares of Amazon.com from $235.00 to $248.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Wedbush increased their price objective on shares of Amazon.com from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $237.42.

Insider Transactions at Amazon.com

In other news, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the sale, the director now owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. This represents a 4.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the transaction, the insider now owns 917,416,976 shares of the company’s stock, valued at approximately $191,602,535,437.60. This represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,030,183 shares of company stock valued at $1,252,883,795. Company insiders own 10.80% of the company’s stock.

Amazon.com Stock Performance

NASDAQ AMZN opened at $225.04 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $2.37 trillion, a P/E ratio of 48.19, a P/E/G ratio of 1.52 and a beta of 1.16. Amazon.com, Inc. has a 12-month low of $143.64 and a 12-month high of $230.08. The firm has a 50-day moving average price of $198.19 and a two-hundred day moving average price of $188.47.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. During the same quarter in the prior year, the firm posted $0.85 EPS. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. Analysts anticipate that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

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.