Amazon.com, Inc. (NASDAQ:AMZN) is Atreides Management LP’s 4th Largest Position

Atreides Management LP lifted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 18.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 931,107 shares of the e-commerce giant’s stock after purchasing an additional 147,513 shares during the quarter. Amazon.com comprises 4.4% of Atreides Management LP’s investment portfolio, making the stock its 4th biggest position. Atreides Management LP’s holdings in Amazon.com were worth $173,493,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AMZN. International Assets Investment Management LLC lifted its stake in Amazon.com by 20,897.2% during the third quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock worth $72,921,080,000 after purchasing an additional 38,949,065 shares in the last quarter. Parnassus Investments LLC increased its holdings in Amazon.com by 82,457.3% in the third quarter. Parnassus Investments LLC now owns 11,405,294 shares of the e-commerce giant’s stock valued at $2,125,148,000 after buying an additional 11,391,479 shares during the last quarter. Strategic Financial Concepts LLC increased its holdings in Amazon.com by 13,606.7% in the second quarter. Strategic Financial Concepts LLC now owns 3,932,580 shares of the e-commerce giant’s stock valued at $759,971,000 after buying an additional 3,903,889 shares during the last quarter. Wulff Hansen & CO. increased its holdings in Amazon.com by 20,517.4% in the second quarter. Wulff Hansen & CO. now owns 3,884,325 shares of the e-commerce giant’s stock valued at $750,646,000 after buying an additional 3,865,485 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Amazon.com during the third quarter worth about $492,144,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on AMZN. Wolfe Research raised their price objective on Amazon.com from $250.00 to $270.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Piper Sandler raised their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Tigress Financial increased their target price on shares of Amazon.com from $245.00 to $290.00 and gave the company a “buy” rating in a report on Friday, December 20th. Pivotal Research started coverage on shares of Amazon.com in a report on Friday, October 11th. They issued a “buy” rating and a $260.00 target price for the company. Finally, Loop Capital raised their price objective on shares of Amazon.com from $225.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $243.67.

Insider Activity at Amazon.com

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the sale, the director now owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This represents a 4.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 6,032,344 shares of company stock valued at $1,253,456,822 in the last quarter. Insiders own 10.80% of the company’s stock.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $218.94 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Amazon.com, Inc. has a fifty-two week low of $149.91 and a fifty-two week high of $233.00. The firm has a 50-day simple moving average of $216.20 and a 200 day simple moving average of $195.34. The company has a market cap of $2.30 trillion, a PE ratio of 46.88, a P/E/G ratio of 1.54 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share 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 business had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Amazon.com, Inc. will post 5.29 EPS for the current year.

About Amazon.com

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.