Amazon.com, Inc. (NASDAQ:AMZN) Stake Boosted by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC lifted its position in Amazon.com, Inc. (NASDAQ:AMZN) by 8.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,824,059 shares of the e-commerce giant’s stock after purchasing an additional 144,526 shares during the period. Amazon.com comprises 2.2% of Kovitz Investment Group Partners LLC’s portfolio, making the stock its 5th largest holding. Kovitz Investment Group Partners LLC’s holdings in Amazon.com were worth $339,877,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AMZN. State Street Corp raised its holdings in Amazon.com by 3.3% during the third quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock valued at $66,926,008,000 after acquiring an additional 11,370,309 shares during the period. Legal & General Group Plc raised its stake in Amazon.com by 1.5% during the 2nd 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 period. Bank of New York Mellon Corp raised its stake in Amazon.com by 0.4% during the 2nd 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 purchasing an additional 289,532 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Amazon.com by 3.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,833,954 shares of the e-commerce giant’s stock worth $10,776,201,000 after purchasing an additional 1,984,592 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Amazon.com by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 57,308,094 shares of the e-commerce giant’s stock worth $10,678,217,000 after purchasing an additional 1,980,663 shares during the period. 72.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AMZN shares. Moffett Nathanson boosted 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. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Amazon.com from $225.00 to $232.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Wedbush raised their price objective on Amazon.com from $250.00 to $260.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Maxim Group boosted their target price on Amazon.com from $251.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Susquehanna increased their price target on Amazon.com from $220.00 to $230.00 and gave the company a “positive” rating in a research note 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.67.

Insiders Place Their Bets

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the transaction, the director now directly owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This represents a 4.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jonathan Rubinstein sold 4,351 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $229.85, for a total value of $1,000,077.35. Following the completion of the sale, the director now directly owns 88,203 shares of the company’s stock, valued at approximately $20,273,459.55. This represents a 4.70 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,032,344 shares of company stock worth $1,253,456,822. 10.80% of the stock is owned by corporate insiders.

Amazon.com Trading Down 1.4 %

Shares of NASDAQ AMZN opened at $218.94 on Monday. Amazon.com, Inc. has a twelve month low of $149.91 and a twelve month high of $233.00. 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 business has a fifty day simple moving average of $216.20 and a two-hundred day simple moving average of $195.42. The firm has a market cap of $2.30 trillion, a PE ratio of 46.88, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results 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. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter in the prior year, the company earned $0.85 EPS. The company’s revenue was up 11.0% compared to the same quarter last year. Analysts expect that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal 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.