Whale Rock Capital Management LLC Boosts Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Whale Rock Capital Management LLC grew its position in Amazon.com, Inc. (NASDAQ:AMZN) by 18.0% in the third quarter, Holdings Channel reports. The fund owned 2,872,454 shares of the e-commerce giant’s stock after acquiring an additional 438,122 shares during the quarter. Amazon.com accounts for 7.5% of Whale Rock Capital Management LLC’s portfolio, making the stock its largest holding. Whale Rock Capital Management LLC’s holdings in Amazon.com were worth $535,224,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of AMZN. ACT Advisors LLC. raised its stake in shares of Amazon.com by 23.3% during the second quarter. ACT Advisors LLC. now owns 2,883 shares of the e-commerce giant’s stock valued at $557,000 after acquiring an additional 545 shares during the last quarter. Oldfather Financial Services LLC raised its position in Amazon.com by 15.2% during the 2nd quarter. Oldfather Financial Services LLC now owns 2,124 shares of the e-commerce giant’s stock worth $410,000 after purchasing an additional 281 shares during the last quarter. TrueWealth Advisors LLC raised its position in Amazon.com by 6.3% during the 2nd quarter. TrueWealth Advisors LLC now owns 7,061 shares of the e-commerce giant’s stock worth $1,365,000 after purchasing an additional 416 shares during the last quarter. Silverleafe Capital Partners LLC lifted its holdings in Amazon.com by 2.5% during the 2nd quarter. Silverleafe Capital Partners LLC now owns 4,685 shares of the e-commerce giant’s stock worth $905,000 after buying an additional 115 shares during the period. Finally, Planned Solutions Inc. bought a new stake in shares of Amazon.com in the 2nd quarter valued at about $202,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Transactions at Amazon.com

In other news, CEO Douglas J. Herrington sold 5,502 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $205.81, for a total transaction of $1,132,366.62. Following the completion of the transaction, the chief executive officer now owns 518,911 shares in the company, valued at approximately $106,797,072.91. This represents a 1.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $246,237.22. Following the completion of the sale, the director now owns 24,912 shares in the company, valued at $4,958,982.72. This represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,032,344 shares of company stock worth $1,253,456,822 in the last quarter. Insiders own 10.80% of the company’s stock.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $218.94 on Monday. The firm has a market capitalization of $2.30 trillion, a P/E ratio of 46.88, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The business’s fifty day simple moving average is $216.20 and its 200 day simple moving average is $195.42. Amazon.com, Inc. has a 12 month low of $149.91 and a 12 month high of $233.00.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping 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 company had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. During the same period in the previous year, the firm earned $0.85 EPS. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, analysts anticipate that Amazon.com, Inc. will post 5.29 EPS for the current year.

Wall Street Analysts Forecast Growth

AMZN has been the topic of a number of recent analyst reports. Truist Financial lifted their price objective on Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Rosenblatt Securities boosted their price target on shares of Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Pivotal Research initiated coverage on shares of Amazon.com in a research report on Friday, October 11th. They set a “buy” rating and a $260.00 price objective for the company. JMP Securities restated a “market outperform” rating and issued a $285.00 target price on shares of Amazon.com in a report on Friday. Finally, Moffett Nathanson upped their price target on shares of Amazon.com from $235.00 to $248.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Two analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $243.67.

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.