LGT Fund Management Co Ltd. Raises Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

LGT Fund Management Co Ltd. grew its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 19.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 261,391 shares of the e-commerce giant’s stock after acquiring an additional 41,817 shares during the period. Amazon.com accounts for about 5.0% of LGT Fund Management Co Ltd.’s investment portfolio, making the stock its 2nd biggest position. LGT Fund Management Co Ltd.’s holdings in Amazon.com were worth $57,347,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Proficio Capital Partners LLC raised its position in shares of Amazon.com by 17,054.5% during the 4th quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant’s stock valued at $2,652,116,000 after acquiring an additional 12,018,120 shares during the last quarter. Parnassus Investments LLC grew its stake in shares of Amazon.com by 82,457.3% during the third quarter. Parnassus Investments LLC now owns 11,405,294 shares of the e-commerce giant’s stock worth $2,125,148,000 after purchasing an additional 11,391,479 shares during the period. State Street Corp increased its holdings in Amazon.com by 3.3% in 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 purchasing an additional 11,370,309 shares during the last quarter. Geode Capital Management LLC lifted its stake in Amazon.com by 3.4% in the third quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock valued at $37,116,341,000 after buying an additional 6,545,944 shares during the period. Finally, Strategic Financial Concepts LLC boosted its holdings in Amazon.com by 23,742.9% during the fourth quarter. Strategic Financial Concepts LLC now owns 5,102,618 shares of the e-commerce giant’s stock worth $1,119,463,000 after buying an additional 5,081,217 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AMZN shares. Raymond James lifted their price objective on shares of Amazon.com from $260.00 to $275.00 in a research note on Monday, February 10th. Morgan Stanley boosted their price target on shares of Amazon.com from $230.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Wells Fargo & Company lowered their price objective on shares of Amazon.com from $207.00 to $203.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 25th. Telsey Advisory Group reiterated an “outperform” rating and set a $275.00 target price on shares of Amazon.com in a report on Friday, February 7th. Finally, Jefferies Financial Group lowered their price target on Amazon.com from $275.00 to $250.00 and set a “buy” rating for the company in a report on Monday. Two research analysts have rated the stock with a hold rating, forty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $260.53.

Amazon.com Stock Up 2.0 %

NASDAQ AMZN opened at $196.01 on Thursday. The business has a fifty day moving average price of $214.60 and a 200 day moving average price of $209.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06. The company has a market cap of $2.08 trillion, a P/E ratio of 35.44, a P/E/G ratio of 1.50 and a beta of 1.19. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $242.52.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. Research analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Activity at Amazon.com

In other news, CEO Douglas J. Herrington sold 5,501 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $228.44, for a total transaction of $1,256,648.44. Following the completion of the transaction, the chief executive officer now directly owns 505,318 shares of the company’s stock, valued at approximately $115,434,843.92. The trade was a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Shelley Reynolds sold 8,833 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $222.47, for a total transaction of $1,965,077.51. Following the completion of the sale, the vice president now owns 119,780 shares in the company, valued at $26,647,456.60. The trade was a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,298 shares of company stock worth $22,871,828. Insiders own 10.80% of the company’s stock.

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.