Connor Clark & Lunn Investment Management Ltd. grew its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 88.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,586,606 shares of the e-commerce giant’s stock after purchasing an additional 745,045 shares during the quarter. Amazon.com comprises about 0.8% of Connor Clark & Lunn Investment Management Ltd.’s portfolio, making the stock its 28th biggest position. Connor Clark & Lunn Investment Management Ltd.’s holdings in Amazon.com were worth $133,275,000 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. Kavar Capital Partners Group LLC raised its stake in Amazon.com by 7.6% during the 1st quarter. Kavar Capital Partners Group LLC now owns 1,121 shares of the e-commerce giant’s stock worth $3,654,000 after buying an additional 79 shares during the period. IFM Investors Pty Ltd raised its stake in shares of Amazon.com by 21.8% in the first quarter. IFM Investors Pty Ltd now owns 72,911 shares of the e-commerce giant’s stock worth $237,686,000 after purchasing an additional 13,060 shares during the last quarter. Ironwood Wealth Management LLC. raised its stake in shares of Amazon.com by 0.8% in the first quarter. Ironwood Wealth Management LLC. now owns 1,810 shares of the e-commerce giant’s stock worth $5,901,000 after purchasing an additional 15 shares during the last quarter. Markel Corp raised its stake in shares of Amazon.com by 0.6% in the first quarter. Markel Corp now owns 99,068 shares of the e-commerce giant’s stock worth $322,956,000 after purchasing an additional 550 shares during the last quarter. Finally, Leelyn Smith LLC raised its stake in shares of Amazon.com by 24.8% in the first quarter. Leelyn Smith LLC now owns 2,721 shares of the e-commerce giant’s stock worth $8,870,000 after purchasing an additional 540 shares during the last quarter. 57.64% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, CEO Adam Selipsky sold 500 shares of the stock in a transaction on Wednesday, April 5th. The stock was sold at an average price of $101.67, for a total value of $50,835.00. Following the sale, the chief executive officer now owns 137,300 shares in the company, valued at $13,959,291. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Amazon.com news, VP Shelley Reynolds sold 3,100 shares of the firm’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $115.60, for a total transaction of $358,360.00. Following the sale, the vice president now owns 119,780 shares in the company, valued at $13,846,568. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adam Selipsky sold 500 shares of the firm’s stock in a transaction dated Wednesday, April 5th. The shares were sold at an average price of $101.67, for a total value of $50,835.00. Following the sale, the chief executive officer now owns 137,300 shares in the company, valued at approximately $13,959,291. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,144 shares of company stock worth $8,513,127. Corporate insiders own 12.70% of the company’s stock.
Amazon.com Price Performance
Amazon.com (NASDAQ:AMZN – Get Rating) last issued its quarterly earnings data on Thursday, April 27th. The e-commerce giant reported $0.31 earnings per share (EPS) for the quarter, topping 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 company had revenue of $127.36 billion for the quarter, compared to the consensus estimate of $124.57 billion. During the same quarter last year, the business posted $0.21 earnings per share. The firm’s revenue was up 9.4% compared to the same quarter last year. As a group, equities research analysts forecast that Amazon.com, Inc. will post 1.57 EPS for the current year.
Wall Street Analyst Weigh In
Several analysts have recently commented on AMZN shares. UBS Group increased their price objective on Amazon.com from $125.00 to $130.00 in a research note on Friday, April 28th. JMP Securities reissued a “market outperform” rating and issued a $140.00 price objective on shares of Amazon.com in a research note on Wednesday, April 19th. Mizuho increased their price objective on Amazon.com from $135.00 to $145.00 in a research note on Friday, April 28th. Deutsche Bank Aktiengesellschaft lowered their price objective on Amazon.com from $130.00 to $125.00 and set a “buy” rating for the company in a research note on Tuesday, April 18th. Finally, Robert W. Baird upped their target price on Amazon.com from $125.00 to $130.00 in a report on Friday, April 28th. Three analysts have rated the stock with a hold rating and forty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $143.52.
About Amazon.com
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.
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