Veritas Asset Management LLP Grows Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on May 17th, 2023

Veritas Asset Management LLP lifted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN – Get Rating) by 19.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,868,621 shares of the e-commerce giant’s stock after purchasing an additional 1,286,797 shares during the period. Amazon.com comprises 5.4% of Veritas Asset Management LLP’s investment portfolio, making the stock its 8th largest holding. Veritas Asset Management LLP owned approximately 0.08% of Amazon.com worth $660,964,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dohj LLC lifted its stake in shares of Amazon.com by 1.8% in the third quarter. Dohj LLC now owns 24,839 shares of the e-commerce giant’s stock worth $2,807,000 after acquiring an additional 451 shares during the period. Bassett Hargrove Investment Counsel LLC acquired a new position in Amazon.com in the third quarter valued at approximately $2,120,000. Obermeyer Wood Investment Counsel Lllp lifted its stake in Amazon.com by 1.2% in the third quarter. Obermeyer Wood Investment Counsel Lllp now owns 313,317 shares of the e-commerce giant’s stock valued at $35,405,000 after buying an additional 3,840 shares during the period. Sarasin & Partners LLP lifted its stake in Amazon.com by 0.7% in the fourth quarter. Sarasin & Partners LLP now owns 2,468,455 shares of the e-commerce giant’s stock valued at $207,350,000 after buying an additional 17,993 shares during the period. Finally, Asset Management One Co. Ltd. lifted its stake in Amazon.com by 0.8% in the third quarter. Asset Management One Co. Ltd. now owns 4,185,666 shares of the e-commerce giant’s stock valued at $472,980,000 after buying an additional 32,781 shares during the period. 57.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AMZN. Wolfe Research boosted their price target on Amazon.com from $130.00 to $140.00 in a research note on Friday, April 28th. UBS Group boosted their price target on Amazon.com from $125.00 to $130.00 in a research note on Friday, April 28th. Robert W. Baird boosted their price target on Amazon.com from $125.00 to $130.00 in a research note on Friday, April 28th. Oppenheimer lowered their target price on Amazon.com from $135.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, April 6th. Finally, Tigress Financial reaffirmed a “buy” rating and set a $192.00 target price on shares of Amazon.com in a research report on Thursday, February 9th. Three analysts have rated the stock with a hold rating and forty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.12.

Amazon.com Stock Up 2.0 %

Shares of NASDAQ AMZN opened at $113.40 on Wednesday. Amazon.com, Inc. has a one year low of $81.43 and a one year high of $146.57. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.92 and a quick ratio of 0.69. The business’s fifty day moving average price is $102.17 and its 200-day moving average price is $96.66. The stock has a market capitalization of $1.16 trillion, a PE ratio of 270.00, a P/E/G ratio of 3.73 and a beta of 1.26.

Amazon.com (NASDAQ:AMZN – Get Rating) last issued its quarterly earnings results on Thursday, April 27th. The e-commerce giant reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.09. Amazon.com had a return on equity of 5.85% and a net margin of 0.82%. The firm had revenue of $127.36 billion for the quarter, compared to analysts’ expectations of $124.57 billion. During the same quarter in the prior year, the firm earned $0.21 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities research analysts anticipate that Amazon.com, Inc. will post 1.54 EPS for the current year.

Insider Buying and Selling

In related news, CEO Adam Selipsky sold 500 shares of the stock in a transaction dated Wednesday, April 5th. The stock was sold at an average price of $101.67, for a total transaction of $50,835.00. Following the sale, the chief executive officer now owns 137,300 shares of the company’s stock, valued at approximately $13,959,291. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Adam Selipsky sold 500 shares of the stock in a transaction dated Wednesday, April 5th. The stock was sold at an average price of $101.67, for a total transaction of $50,835.00. Following the sale, the chief executive officer now owns 137,300 shares of the company’s stock, valued at approximately $13,959,291. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas J. Herrington sold 4,000 shares of the stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $105.00, for a total value of $420,000.00. Following the sale, the chief executive officer now directly owns 552,298 shares in the company, valued at approximately $57,991,290. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,259 shares of company stock valued at $4,866,360. Corporate insiders own 12.70% of the company’s stock.

Amazon.com Company Profile

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Amazon.com, Inc is a multinational technology company, which engages in the provision of online retail shopping services. It operates through the following segments: North America, International, and Amazon Web Services (AWS). The North America segment is involved in the retail sales of consumer products including from sellers and subscriptions through North America-focused online and physical stores.