Amazon.com, Inc. (NASDAQ:AMZN) Stake Lessened by Korea Investment CORP
Korea Investment CORP cut its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 306,088 shares of the e-commerce giant’s stock after selling 20,290 shares during the period. Amazon.com accounts for 2.5% of Korea Investment CORP’s holdings, making the stock its 4th biggest holding. Korea Investment CORP’s holdings in Amazon.com were worth $459,735,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Archford Capital Strategies LLC boosted its stake in shares of Amazon.com by 27.4% during the fourth quarter. Archford Capital Strategies LLC now owns 655 shares of the e-commerce giant’s stock valued at $984,000 after purchasing an additional 141 shares in the last quarter. Apollon Wealth Management LLC acquired a new stake in Amazon.com in the fourth quarter valued at approximately $1,131,000. Ascent Wealth Partners LLC acquired a new stake in Amazon.com in the fourth quarter valued at approximately $3,264,000. Advisory Resource Group acquired a new stake in Amazon.com in the fourth quarter valued at approximately $716,000. Finally, Next Capital Management LLC acquired a new stake in Amazon.com in the fourth quarter valued at approximately $491,000. Hedge funds and other institutional investors own 55.51% of the company’s stock.
Several equities research analysts have weighed in on the stock. Goldman Sachs Group restated a “buy” rating and issued a $2,400.00 target price (up from $2,100.00) on shares of Amazon.com in a research note on Friday, April 26th. CIBC raised their target price on shares of Amazon.com from $1,975.00 to $2,085.00 and gave the company an “outperform” rating in a research note on Monday, April 1st. Aegis restated a “buy” rating and issued a $2,250.00 target price (up from $2,225.00) on shares of Amazon.com in a research note on Friday, April 26th. Bank of America raised their target price on shares of Amazon.com from $2,100.00 to $2,300.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Cleveland Research assumed coverage on shares of Amazon.com in a research note on Thursday, February 28th. They issued a “buy” rating for the company. Five equities research analysts have rated the stock with a hold rating and forty-three have assigned a buy rating to the company. Amazon.com has an average rating of “Buy” and a consensus price target of $2,196.39.
Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, April 25th. The e-commerce giant reported $7.09 earnings per share for the quarter, beating analysts’ consensus estimates of $4.61 by $2.48. Amazon.com had a net margin of 4.97% and a return on equity of 28.91%. The company had revenue of $59.70 billion during the quarter, compared to analysts’ expectations of $59.73 billion. During the same quarter in the previous year, the company earned $3.27 earnings per share. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. As a group, equities analysts anticipate that Amazon.com, Inc. will post 26.55 EPS for the current year.
In other news, SVP David Zapolsky sold 880 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $1,834.59, for a total transaction of $1,614,439.20. Following the completion of the sale, the senior vice president now owns 3,902 shares of the company’s stock, valued at $7,158,570.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Shelley Reynolds sold 379 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $1,838.32, for a total transaction of $696,723.28. Following the sale, the vice president now directly owns 6,307 shares of the company’s stock, valued at approximately $11,594,284.24. The disclosure for this sale can be found here. Insiders sold 12,932 shares of company stock valued at $24,196,737 in the last ninety days. 16.10% of the stock is owned by corporate insiders.
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Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS) segments. It sells merchandise and content purchased for resale from third-party sellers through physical stores and online stores.
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