City of London Investment Management Co. Ltd. Purchases 40,800 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

City of London Investment Management Co. Ltd. lifted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 968.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 45,015 shares of the e-commerce giant’s stock after acquiring an additional 40,800 shares during the quarter. Amazon.com makes up approximately 0.7% of City of London Investment Management Co. Ltd.’s holdings, making the stock its 27th biggest holding. City of London Investment Management Co. Ltd.’s holdings in Amazon.com were worth $8,699,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Garrison Point Advisors LLC lifted its holdings in shares of Amazon.com by 0.3% in the 1st quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock worth $3,675,000 after acquiring an additional 55 shares during the last quarter. Meridian Investment Counsel Inc. lifted its holdings in shares of Amazon.com by 1.8% in the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock worth $594,000 after acquiring an additional 55 shares during the last quarter. Ridgecrest Wealth Partners LLC lifted its holdings in shares of Amazon.com by 0.7% in the 1st quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock worth $1,399,000 after acquiring an additional 56 shares during the last quarter. Stordahl Capital Management Inc. lifted its holdings in shares of Amazon.com by 2.1% in the 1st quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock worth $498,000 after acquiring an additional 56 shares during the last quarter. Finally, Lutz Financial Services LLC lifted its holdings in shares of Amazon.com by 1.9% in the 1st quarter. Lutz Financial Services LLC now owns 3,053 shares of the e-commerce giant’s stock worth $551,000 after acquiring an additional 57 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Brian T. Olsavsky sold 14,600 shares of the 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 transaction, the chief financial officer now owns 49,000 shares in the company, valued at approximately $8,820,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the company’s 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 sale, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian T. Olsavsky sold 14,600 shares of the company’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 sale, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at $8,820,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,355 shares of company stock worth $9,877,423 in the last 90 days. Company insiders own 10.80% of the company’s stock.

Amazon.com Price Performance

NASDAQ AMZN opened at $186.89 on Thursday. The stock’s 50-day moving average price is $181.11 and its two-hundred day moving average price is $183.32. 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 company has a market cap of $1.94 trillion, a PE ratio of 52.35, a PEG ratio of 1.38 and a beta of 1.14. Amazon.com, Inc. has a 1 year low of $118.35 and a 1 year high of $201.20.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.18. The firm had revenue of $147.98 billion for the quarter, compared to the consensus estimate of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. On average, analysts predict that Amazon.com, Inc. will post 4.85 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Benchmark reaffirmed a “buy” rating and set a $200.00 target price on shares of Amazon.com in a research note on Friday, August 2nd. Maxim Group upped their target price on shares of Amazon.com from $238.00 to $251.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Morgan Stanley reissued an “overweight” rating and issued a $210.00 price objective on shares of Amazon.com in a research report on Thursday, October 3rd. Telsey Advisory Group reissued an “outperform” rating and issued a $215.00 price objective on shares of Amazon.com in a research report on Thursday, October 10th. Finally, Sanford C. Bernstein increased their price objective on shares of Amazon.com from $210.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and an average price target of $236.78.

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.