Kanawha Capital Management LLC lifted its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 5.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,333 shares of the e-commerce giant’s stock after acquiring an additional 1,640 shares during the period. Kanawha Capital Management LLC’s holdings in Amazon.com were worth $4,215,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in AMZN. Bridgefront Capital LLC purchased a new stake in shares of Amazon.com in the first quarter worth $228,000. Krane Funds Advisors LLC raised its position in Amazon.com by 239.1% during the first quarter. Krane Funds Advisors LLC now owns 78 shares of the e-commerce giant’s stock valued at $254,000 after purchasing an additional 55 shares in the last quarter. Range Financial Group LLC purchased a new stake in Amazon.com during the first quarter valued at about $258,000. My Personal CFO LLC purchased a new stake in Amazon.com during the first quarter valued at about $261,000. Finally, Worth Asset Management LLC purchased a new stake in Amazon.com during the first quarter valued at about $191,000. 57.96% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, CEO Douglas J. Herrington sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $141.00, for a total value of $7,050,000.00. Following the completion of the transaction, the chief executive officer now directly owns 510,301 shares in the company, valued at approximately $71,952,441. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Shelley Reynolds sold 3,100 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $133.87, for a total transaction of $414,997.00. Following the completion of the sale, the vice president now owns 119,780 shares of the company’s stock, valued at approximately $16,034,948.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Douglas J. Herrington sold 50,000 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $141.00, for a total transaction of $7,050,000.00. Following the sale, the chief executive officer now directly owns 510,301 shares of the company’s stock, valued at approximately $71,952,441. The disclosure for this sale can be found here. Insiders sold a total of 1,404,645 shares of company stock worth $54,674,088 in the last three months. Insiders own 12.30% of the company’s stock.
Amazon.com Price Performance
Amazon.com (NASDAQ:AMZN – Get Free Report) last released its earnings results on Thursday, August 3rd. The e-commerce giant reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.29. Amazon.com had a net margin of 3.62% and a return on equity of 12.75%. The firm had revenue of $134.38 billion during the quarter, compared to analyst estimates of $131.54 billion. Equities research analysts forecast that Amazon.com, Inc. will post 2.23 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on AMZN. Wolfe Research raised their price target on Amazon.com from $140.00 to $150.00 in a research report on Monday, July 10th. Morgan Stanley restated an “overweight” rating and set a $175.00 price target on shares of Amazon.com in a research report on Monday, October 2nd. TD Cowen raised their price target on Amazon.com from $150.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. Wedbush restated an “outperform” rating and set a $180.00 price target on shares of Amazon.com in a research report on Wednesday, October 18th. Finally, Telsey Advisory Group raised their price objective on Amazon.com from $160.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday. Three analysts have rated the stock with a hold rating and forty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $169.00.
Check Out Our Latest Analysis on AMZN
About Amazon.com
Amazon.com, Inc engages in the retail sale of consumer products and subscriptions through online and physical stores in North America and internationally. It operates through three segments: North America, International, and Amazon Web Services (AWS). The company's products offered through its stores include merchandise and content purchased for resale; and products offered by third-party sellers.
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