Amazon.com, Inc. $AMZN is Magellan Asset Management Ltd’s 2nd Largest Position

Magellan Asset Management Ltd grew its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 4.1% during the second quarter, Holdings Channel reports. The institutional investor owned 3,153,873 shares of the e-commerce giant’s stock after purchasing an additional 125,251 shares during the quarter. Amazon.com accounts for 7.9% of Magellan Asset Management Ltd’s holdings, making the stock its 2nd largest holding. Magellan Asset Management Ltd’s holdings in Amazon.com were worth $691,928,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Aviva PLC increased its holdings in Amazon.com by 8.4% in the 2nd quarter. Aviva PLC now owns 7,279,378 shares of the e-commerce giant’s stock worth $1,597,023,000 after acquiring an additional 566,039 shares during the last quarter. Retirement Investment Advisors Inc. purchased a new position in shares of Amazon.com in the second quarter worth about $211,000. Prospera Financial Services Inc raised its position in shares of Amazon.com by 14.5% in the second quarter. Prospera Financial Services Inc now owns 437,444 shares of the e-commerce giant’s stock valued at $95,970,000 after purchasing an additional 55,328 shares during the period. RWA Wealth Partners LLC lifted its stake in shares of Amazon.com by 24.4% during the 2nd quarter. RWA Wealth Partners LLC now owns 182,234 shares of the e-commerce giant’s stock valued at $39,980,000 after buying an additional 35,760 shares in the last quarter. Finally, Titan Global Capital Management USA LLC boosted its holdings in Amazon.com by 8.3% in the 2nd quarter. Titan Global Capital Management USA LLC now owns 115,241 shares of the e-commerce giant’s stock worth $25,283,000 after buying an additional 8,786 shares during the period. Institutional investors own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AMZN. Susquehanna set a $300.00 target price on shares of Amazon.com and gave the company a “positive” rating in a report on Friday, October 31st. Maxim Group raised their price target on Amazon.com from $272.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Roth Capital boosted their price objective on Amazon.com from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, October 31st. BNP Paribas assumed coverage on Amazon.com in a report on Monday, November 24th. They set an “outperform” rating on the stock. Finally, China Renaissance lifted their target price on Amazon.com from $278.00 to $300.00 and gave the company a “buy” rating in a report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, fifty-seven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $296.11.

Insider Activity

In other Amazon.com news, Director Keith Brian Alexander sold 900 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $233.00, for a total transaction of $209,700.00. Following the sale, the director owned 7,170 shares in the company, valued at $1,670,610. This trade represents a 11.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Andrew R. Jassy sold 19,872 shares of Amazon.com stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $216.94, for a total value of $4,311,031.68. Following the sale, the chief executive officer directly owned 2,208,310 shares of the company’s stock, valued at approximately $479,070,771.40. This trade represents a 0.89% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 82,234 shares of company stock worth $19,076,767. Corporate insiders own 9.70% of the company’s stock.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $229.11 on Friday. The stock has a market cap of $2.45 trillion, a P/E ratio of 32.36, a PEG ratio of 1.60 and a beta of 1.37. The company has a quick ratio of 0.80, a current ratio of 1.01 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average price is $228.38 and its two-hundred day moving average price is $223.65. Amazon.com, Inc. has a twelve month low of $161.38 and a twelve month high of $258.60.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, October 30th. The e-commerce giant reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.38. Amazon.com had a net margin of 11.06% and a return on equity of 23.62%. The company had revenue of $180.17 billion for the quarter, compared to analysts’ expectations of $177.53 billion. During the same period in the prior year, the business earned $1.43 earnings per share. Amazon.com’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, equities analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Amazon.com Profile

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.