Coronation Fund Managers Ltd. Sells 48,088 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Coronation Fund Managers Ltd. lowered its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 6.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 714,402 shares of the e-commerce giant’s stock after selling 48,088 shares during the quarter. Amazon.com accounts for about 4.0% of Coronation Fund Managers Ltd.’s investment portfolio, making the stock its 3rd biggest holding. Coronation Fund Managers Ltd.’s holdings in Amazon.com were worth $138,058,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Cooksen Wealth LLC bought a new stake in shares of Amazon.com in the 4th quarter valued at $30,000. Strid Group LLC bought a new stake in shares of Amazon.com in the fourth quarter worth about $43,000. Clarity Asset Management Inc. acquired a new stake in shares of Amazon.com during the fourth quarter worth about $46,000. Steph & Co. bought a new position in shares of Amazon.com during the 1st quarter valued at about $65,000. Finally, Advantage Trust Co acquired a new position in shares of Amazon.com in the 4th quarter valued at approximately $68,000. Institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AMZN. Wolfe Research began coverage on shares of Amazon.com in a research report on Tuesday, July 16th. They set an “outperform” rating and a $250.00 price objective for the company. Roth Mkm lifted their price target on Amazon.com from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Needham & Company LLC upped their price objective on Amazon.com from $205.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Piper Sandler dropped their target price on Amazon.com from $220.00 to $215.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, Itau BBA Securities cut Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 target price on the stock. in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, forty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $221.36.

Insider Transactions at Amazon.com

In related news, CFO Brian T. Olsavsky sold 14,600 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total value of $2,628,000.00. Following the completion of the sale, the chief financial officer now directly owns 49,000 shares in the company, valued at $8,820,000. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, SVP David Zapolsky sold 4,710 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $195.00, for a total transaction of $918,450.00. Following the completion of the sale, the senior vice president now owns 59,500 shares of the company’s stock, valued at approximately $11,602,500. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Brian T. Olsavsky sold 14,600 shares of Amazon.com stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the completion of the transaction, the chief financial officer now directly owns 49,000 shares in the company, valued at $8,820,000. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,104,317 shares of company stock valued at $1,220,621,322. 10.80% of the stock is currently owned by company insiders.

Amazon.com Stock Performance

Shares of NASDAQ AMZN opened at $178.50 on Tuesday. Amazon.com, Inc. has a one year low of $118.35 and a one year high of $201.20. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88. The firm has a market cap of $1.86 trillion, a price-to-earnings ratio of 50.00, a P/E/G ratio of 1.34 and a beta of 1.15. The stock’s fifty day moving average price is $182.54 and its two-hundred day moving average price is $181.21.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, beating the consensus estimate of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The business had revenue of $147.98 billion for the quarter, compared to the consensus estimate of $148.63 billion. On average, equities analysts forecast that Amazon.com, Inc. will post 4.86 EPS 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.