Amazon.com, Inc. (NASDAQ:AMZN) Shares Purchased by ARK Investment Management LLC

ARK Investment Management LLC boosted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 251.6% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 348,833 shares of the e-commerce giant’s stock after acquiring an additional 249,633 shares during the quarter. ARK Investment Management LLC’s holdings in Amazon.com were worth $64,998,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC grew its position in Amazon.com by 9.7% during the 3rd quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock worth $34,395,000 after purchasing an additional 16,392 shares during the period. Umpqua Bank boosted its stake in shares of Amazon.com by 0.4% in the third quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock worth $6,544,000 after buying an additional 137 shares during the last quarter. Zhang Financial LLC grew its holdings in Amazon.com by 12.9% during the third quarter. Zhang Financial LLC now owns 51,091 shares of the e-commerce giant’s stock worth $9,520,000 after acquiring an additional 5,828 shares during the period. BayBridge Capital Group LLC raised its position in Amazon.com by 51.8% during the third quarter. BayBridge Capital Group LLC now owns 14,368 shares of the e-commerce giant’s stock valued at $2,677,000 after acquiring an additional 4,905 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Amazon.com by 0.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,847,177 shares of the e-commerce giant’s stock valued at $550,217,000 after acquiring an additional 14,766 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Activity

In other news, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’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 transaction, the director now directly owns 24,912 shares in the company, valued at approximately $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP David Zapolsky sold 2,190 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the transaction, the senior vice president now directly owns 62,420 shares in the company, valued at $12,171,900. The trade was a 3.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,034,534 shares of company stock worth $1,253,883,872. Corporate insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AMZN shares. Truist Financial lifted their target price on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 1st. Rosenblatt Securities lifted their price objective on shares of Amazon.com from $221.00 to $236.00 and gave the company a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. increased their target price on shares of Amazon.com from $230.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Wells Fargo & Company restated an “equal weight” rating and issued a $197.00 price target on shares of Amazon.com in a research note on Wednesday, November 20th. Finally, Robert W. Baird increased their price target on Amazon.com from $220.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday. Two investment 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 stock. According to MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and an average price target of $240.67.

Amazon.com Stock Up 2.4 %

Shares of Amazon.com stock opened at $232.93 on Tuesday. Amazon.com, Inc. has a 52-week low of $144.05 and a 52-week high of $233.00. The company has a 50 day moving average of $202.70 and a 200 day moving average of $190.16. 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 $2.45 trillion, a P/E ratio of 49.88, a P/E/G ratio of 1.54 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last issued its 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. The business had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the company earned $0.85 EPS. As a group, research analysts forecast that Amazon.com, Inc. will post 5.29 EPS 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.