KC Investment Advisors LLC lifted its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 8.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 635 shares of the e-commerce giant’s stock after purchasing an additional 52 shares during the quarter. Amazon.com comprises about 1.8% of KC Investment Advisors LLC’s holdings, making the stock its 7th biggest position. KC Investment Advisors LLC’s holdings in Amazon.com were worth $2,185,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of AMZN. Prentice Wealth Management LLC bought a new position in shares of Amazon.com in the first quarter worth about $1,151,000. Polen Capital Management LLC bought a new stake in Amazon.com during the 1st quarter valued at approximately $1,997,340,000. Cohen Investment Advisors LLC raised its stake in Amazon.com by 34,666.4% during the 1st quarter. Cohen Investment Advisors LLC now owns 639,007 shares of the e-commerce giant’s stock valued at $5,033,000 after purchasing an additional 637,169 shares during the period. Generation Investment Management LLP bought a new stake in Amazon.com during the 1st quarter valued at approximately $934,954,000. Finally, Lone Pine Capital LLC raised its stake in Amazon.com by 87.4% during the 1st quarter. Lone Pine Capital LLC now owns 481,744 shares of the e-commerce giant’s stock valued at $1,490,554,000 after purchasing an additional 224,618 shares during the period. 57.67% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AMZN traded down $51.55 during trading hours on Monday, hitting $3,373.97. The company had a trading volume of 148,309 shares, compared to its average volume of 3,459,524. The company has a market capitalization of $1.71 trillion, a PE ratio of 58.97, a price-to-earnings-growth ratio of 2.41 and a beta of 1.14. The company has a current ratio of 1.20, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44. Amazon.com, Inc. has a one year low of $2,881.00 and a one year high of $3,773.08. The company’s fifty day moving average price is $3,418.24 and its two-hundred day moving average price is $3,355.92.
Several equities analysts have weighed in on the company. Morgan Stanley cut their price target on Amazon.com from $4,300.00 to $4,100.00 and set an “overweight” rating for the company in a report on Monday. Truist Securities cut their price target on Amazon.com from $4,000.00 to $3,800.00 and set a “buy” rating for the company in a report on Friday, July 30th. The Goldman Sachs Group assumed coverage on Amazon.com in a report on Monday, September 13th. They set a “buy” rating and a $4,250.00 price target for the company. KeyCorp restated a “buy” rating and set a $4,000.00 price target on shares of Amazon.com in a report on Tuesday, September 7th. Finally, Truist cut their price target on Amazon.com from $4,000.00 to $3,800.00 and set a “buy” rating for the company in a report on Friday, July 30th. One research analyst has rated the stock with a hold rating and forty have issued a buy rating to the stock. According to MarketBeat.com, Amazon.com currently has a consensus rating of “Buy” and an average target price of $4,146.65.
In related news, CEO Andrew R. Jassy sold 492 shares of the business’s stock in a transaction on Monday, August 23rd. The stock was sold at an average price of $3,211.90, for a total transaction of $1,580,254.80. Following the transaction, the chief executive officer now directly owns 87,327 shares in the company, valued at approximately $280,485,591.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Adam Selipsky sold 1,356 shares of the business’s stock in a transaction on Monday, August 16th. The stock was sold at an average price of $3,283.00, for a total value of $4,451,748.00. Following the transaction, the chief executive officer now owns 3,082 shares in the company, valued at $10,118,206. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,463 shares of company stock worth $14,784,642. 14.00% of the stock is owned by company insiders.
Amazon.com, Inc engages in the provision of online retail shopping services. It operates through the following business segments: North America, International, and Amazon Web Services (AWS). The North America segment includes retail sales of consumer products and subscriptions through North America-focused websites such as www.amazon.com and www.amazon.ca.
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