ICICI Prudential Asset Management Co Ltd Increases Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

ICICI Prudential Asset Management Co Ltd increased its position in Amazon.com, Inc. (NASDAQ:AMZN) by 6.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 154,797 shares of the e-commerce giant’s stock after buying an additional 8,787 shares during the period. Amazon.com comprises approximately 3.0% of ICICI Prudential Asset Management Co Ltd’s holdings, making the stock its 6th largest position. ICICI Prudential Asset Management Co Ltd’s holdings in Amazon.com were worth $28,843,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. PayPay Securities Corp lifted its holdings in Amazon.com by 64.6% during the 2nd 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 in the last quarter. Hoese & Co LLP purchased a new stake in Amazon.com during the third quarter valued at approximately $37,000. Bull Oak Capital LLC acquired a new position in Amazon.com during the 3rd quarter valued at about $45,000. Values First Advisors Inc. purchased a new stake in Amazon.com during the 3rd quarter worth approximately $56,000. Finally, Christopher J. Hasenberg Inc raised its stake in Amazon.com by 650.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after acquiring an additional 260 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AMZN. Royal Bank of Canada boosted their price objective on Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Roth Mkm lifted their price target on Amazon.com from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. increased their price objective on shares of Amazon.com from $250.00 to $280.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. The Goldman Sachs Group upped their price objective on shares of Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Scotiabank increased their price target on Amazon.com from $245.00 to $246.00 and gave the stock a “sector outperform” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $243.00.

Amazon.com Stock Up 0.1 %

Shares of NASDAQ:AMZN opened at $225.06 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The business’s 50 day simple moving average is $205.83 and its two-hundred day simple moving average is $191.46. Amazon.com, Inc. has a 52-week low of $144.05 and a 52-week high of $233.00. The firm has a market cap of $2.37 trillion, a P/E ratio of 48.19, a PEG ratio of 1.54 and a beta of 1.16.

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

Insider Buying and Selling at Amazon.com

In other news, Director Jonathan Rubinstein sold 5,004 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $199.85, for a total value of $1,000,049.40. Following the completion of the sale, the director now owns 99,396 shares of the company’s stock, valued at approximately $19,864,290.60. The trade was a 4.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 24,912 shares in the company, valued at $4,958,982.72. The trade was a 4.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,032,344 shares of company stock valued at $1,253,456,822 in the last three months. Company insiders own 10.80% of the company’s stock.

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.