Klingman & Associates LLC Increases Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Klingman & Associates LLC grew its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 10.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 44,168 shares of the e-commerce giant’s stock after acquiring an additional 4,194 shares during the quarter. Klingman & Associates LLC’s holdings in Amazon.com were worth $8,230,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AMZN. PayPay Securities Corp raised its holdings in shares of Amazon.com by 64.6% in the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after buying an additional 64 shares during the last quarter. Hoese & Co LLP acquired a new position in shares of Amazon.com in the third quarter valued at approximately $37,000. Bull Oak Capital LLC purchased a new stake in shares of Amazon.com during the third quarter worth approximately $45,000. Christopher J. Hasenberg Inc lifted its holdings in shares of Amazon.com by 650.0% during the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after purchasing an additional 260 shares during the period. Finally, Values First Advisors Inc. purchased a new position in Amazon.com in the 3rd quarter valued at $56,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Evercore ISI lifted their target price on shares of Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, November 1st. BMO Capital Markets reissued an “outperform” rating and set a $236.00 target price on shares of Amazon.com in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on Amazon.com from $225.00 to $232.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Stifel Nicolaus upped their price target on shares of Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Royal Bank of Canada raised their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $242.00.

Amazon.com Stock Performance

Shares of NASDAQ:AMZN opened at $220.52 on Thursday. The firm has a market capitalization of $2.32 trillion, a PE ratio of 47.22, a P/E/G ratio of 1.54 and a beta of 1.16. Amazon.com, Inc. has a 12 month low of $144.05 and a 12 month high of $233.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The business has a 50-day moving average of $204.37 and a two-hundred day moving average of $190.75.

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

Insiders Place Their Bets

In other news, Director Jonathan Rubinstein sold 4,351 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the transaction, the director now owns 88,203 shares of the company’s stock, valued at approximately $20,273,459.55. This trade represents a 4.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Douglas J. Herrington sold 5,502 shares of Amazon.com stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $205.81, for a total value of $1,132,366.62. Following the completion of the transaction, the chief executive officer now owns 518,911 shares of the company’s stock, valued at $106,797,072.91. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,034,534 shares of company stock worth $1,253,883,872 in the last quarter. 10.80% of the stock is owned by corporate insiders.

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.