Discovery Capital Management LLC CT Acquires New Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Discovery Capital Management LLC CT acquired a new stake in Amazon.com, Inc. (NASDAQ:AMZN) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 143,400 shares of the e-commerce giant’s stock, valued at approximately $27,712,000. Amazon.com makes up 3.7% of Discovery Capital Management LLC CT’s holdings, making the stock its 10th biggest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PayPay Securities Corp raised its holdings in shares of Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after buying an additional 64 shares during the period. Christopher J. Hasenberg Inc raised its holdings in shares of Amazon.com by 650.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after buying an additional 260 shares during the period. Steph & Co. purchased a new stake in shares of Amazon.com in the 1st quarter valued at $65,000. Koesten Hirschmann & Crabtree INC. purchased a new stake in Amazon.com during the 1st quarter worth about $69,000. Finally, Innealta Capital LLC purchased a new stake in Amazon.com during the 2nd quarter worth about $77,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

AMZN has been the topic of several recent research reports. Maxim Group upped their price target on Amazon.com from $238.00 to $251.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Morgan Stanley restated an “overweight” rating and set a $210.00 price target on shares of Amazon.com in a report on Thursday, October 3rd. Barclays upped their price target on Amazon.com from $220.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Benchmark restated a “buy” rating and set a $200.00 price target on shares of Amazon.com in a report on Friday, August 2nd. Finally, Needham & Company LLC restated a “buy” rating and set a $210.00 price target on shares of Amazon.com in a report on Thursday, September 12th. Two analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $236.78.

Insiders Place Their Bets

In other news, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the transaction, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the transaction, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Shelley Reynolds sold 3,791 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total value of $686,322.64. Following the transaction, the vice president now directly owns 121,461 shares of the company’s stock, valued at approximately $21,989,299.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,355 shares of company stock valued at $9,877,423. 10.80% of the stock is owned by company insiders.

Amazon.com Stock Up 0.3 %

Amazon.com stock opened at $189.70 on Wednesday. Amazon.com, Inc. has a twelve month low of $118.35 and a twelve month high of $201.20. The stock has a 50 day moving average of $182.82 and a two-hundred day moving average of $183.53. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $1.97 trillion, a price-to-earnings ratio of 53.14, a PEG ratio of 1.38 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. The company had revenue of $147.98 billion during the quarter, compared to analysts’ expectations of $148.63 billion. As a group, research analysts expect that Amazon.com, Inc. will post 4.85 earnings per share for the current 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.