Coronation Fund Managers Ltd. Cuts Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Coronation Fund Managers Ltd. lowered its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.3% during the third quarter, Holdings Channel reports. The firm owned 263,781 shares of the e-commerce giant’s stock after selling 3,596 shares during the period. Amazon.com accounts for about 2.7% of Coronation Fund Managers Ltd.’s portfolio, making the stock its 10th largest position. Coronation Fund Managers Ltd.’s holdings in Amazon.com were worth $49,150,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Latko Wealth Management Ltd. bought a new position in shares of Amazon.com during the 3rd quarter valued at $313,000. Prosperitas Financial LLC raised its holdings in Amazon.com by 10.3% in the 3rd quarter. Prosperitas Financial LLC now owns 36,888 shares of the e-commerce giant’s stock worth $6,873,000 after acquiring an additional 3,436 shares during the period. Cedar Point Capital Partners LLC raised its holdings in Amazon.com by 4.4% in the 3rd quarter. Cedar Point Capital Partners LLC now owns 1,324 shares of the e-commerce giant’s stock worth $247,000 after acquiring an additional 56 shares during the period. Lodestone Wealth Management LLC raised its holdings in Amazon.com by 8.2% in the 3rd quarter. Lodestone Wealth Management LLC now owns 10,049 shares of the e-commerce giant’s stock worth $1,872,000 after acquiring an additional 762 shares during the period. Finally, Glassy Mountain Advisors Inc. raised its holdings in Amazon.com by 4.1% in the 3rd quarter. Glassy Mountain Advisors Inc. now owns 47,548 shares of the e-commerce giant’s stock worth $8,860,000 after acquiring an additional 1,863 shares during the period. Institutional investors own 72.20% of the company’s stock.

Insiders Place Their Bets

In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the transaction, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. The trade was a 3.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the completion of the transaction, the insider now directly owns 917,416,976 shares of the company’s stock, valued at approximately $191,602,535,437.60. This represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,030,183 shares of company stock valued at $1,252,883,795. Insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AMZN. Loop Capital lifted their target price on shares of Amazon.com from $225.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Monness Crespi & Hardt lifted their target price on shares of Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Wedbush lifted their target price on shares of Amazon.com from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Rosenblatt Securities lifted their target price on shares of Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, TD Cowen lifted their target price on shares of Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $237.42.

Amazon.com Price Performance

NASDAQ:AMZN opened at $225.04 on Wednesday. The firm has a market cap of $2.37 trillion, a PE ratio of 48.19, a price-to-earnings-growth ratio of 1.52 and a beta of 1.16. Amazon.com, Inc. has a 12 month low of $143.64 and a 12 month high of $230.08. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The company’s 50-day moving average price is $198.19 and its two-hundred day moving average price is $188.47.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. During the same period in the previous year, the business earned $0.85 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, equities analysts anticipate that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Amazon.com Company 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.