K2 Principal Fund L.P. Boosts Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

K2 Principal Fund L.P. raised its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 51.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,119 shares of the e-commerce giant’s stock after purchasing an additional 7,477 shares during the quarter. K2 Principal Fund L.P.’s holdings in Amazon.com were worth $4,121,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AMZN. State Street Corp lifted its holdings in shares of 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 worth $66,926,008,000 after buying an additional 11,370,309 shares in the last quarter. Legal & General Group Plc increased its position in Amazon.com by 1.5% in the second quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock worth $13,466,933,000 after purchasing an additional 1,042,177 shares during the last quarter. Bank of New York Mellon Corp increased its position in Amazon.com by 0.4% during the second 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 acquiring an additional 289,532 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Amazon.com by 3.6% during the third 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 valued at $10,776,201,000 after acquiring an additional 1,984,592 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Amazon.com by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 57,308,094 shares of the e-commerce giant’s stock valued at $10,678,217,000 after acquiring an additional 1,980,663 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AMZN shares. Jefferies Financial Group boosted their target price on shares of Amazon.com from $235.00 to $275.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Oppenheimer increased their price target on shares of Amazon.com from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Scotiabank upped their price objective on shares of Amazon.com from $245.00 to $246.00 and gave the company a “sector outperform” rating in a report on Friday, November 1st. Robert W. Baird increased their price target on shares of Amazon.com from $220.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $197.00 price target on shares of Amazon.com in a report on Wednesday, November 20th. Two analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $245.33.

Amazon.com Stock Down 0.2 %

Shares of NASDAQ:AMZN opened at $218.46 on Tuesday. The business has a 50-day moving average price of $216.66 and a 200 day moving average price of $195.57. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $2.30 trillion, a price-to-earnings ratio of 46.78, a PEG ratio of 1.54 and a beta of 1.14. Amazon.com, Inc. has a 12-month low of $149.91 and a 12-month high of $233.00.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.29. The company 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%. Amazon.com’s revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 EPS. Sell-side analysts expect that Amazon.com, Inc. will post 5.29 EPS for the current year.

Insider Activity

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the sale, the director now owns 24,912 shares in the company, valued at approximately $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas J. Herrington sold 5,502 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were 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 directly owns 518,911 shares in the company, valued at approximately $106,797,072.91. The trade was a 1.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,032,344 shares of company stock worth $1,253,456,822. 10.80% of the stock is currently owned by company 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.