K2 Principal Fund L.P. Makes New $2.83 Million Investment in Amazon.com, Inc. (NASDAQ:AMZN)

K2 Principal Fund L.P. purchased a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the 2nd quarter, Holdings Channel reports. The firm purchased 14,642 shares of the e-commerce giant’s stock, valued at approximately $2,830,000.

A number of other large investors also recently modified their holdings of AMZN. Phillips Wealth Planners LLC lifted its holdings in Amazon.com by 9.2% during the 1st quarter. Phillips Wealth Planners LLC now owns 2,655 shares of the e-commerce giant’s stock worth $487,000 after buying an additional 224 shares during the period. Stonekeep Investments LLC bought a new position in shares of Amazon.com during the second quarter worth about $2,588,000. Concord Investment Counsel Inc. acquired a new position in shares of Amazon.com in the first quarter worth approximately $20,790,000. O Shaughnessy Asset Management LLC boosted its holdings in Amazon.com by 26.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 644,319 shares of the e-commerce giant’s stock valued at $116,222,000 after acquiring an additional 133,471 shares during the last quarter. Finally, Eos Management L.P. boosted its holdings in Amazon.com by 27.1% in the second quarter. Eos Management L.P. now owns 47,554 shares of the e-commerce giant’s stock valued at $9,190,000 after acquiring an additional 10,147 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AMZN has been the topic of several recent analyst reports. Roth Mkm boosted their target price on shares of Amazon.com from $210.00 to $215.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Piper Sandler dropped their price objective on Amazon.com from $220.00 to $215.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Jefferies Financial Group decreased their target price on Amazon.com from $235.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Wedbush reiterated an “outperform” rating and issued a $225.00 target price on shares of Amazon.com in a report on Friday, August 2nd. Finally, BMO Capital Markets restated an “outperform” rating and set a $230.00 price target on shares of Amazon.com in a report on Thursday, September 19th. Two research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $236.78.

Insider Activity at Amazon.com

In other Amazon.com news, VP Shelley Reynolds sold 3,791 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total value of $686,322.64. Following the completion of the sale, the vice president now directly owns 121,461 shares of the company’s stock, valued at $21,989,299.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Brian T. Olsavsky sold 14,600 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the completion of the transaction, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Shelley Reynolds sold 3,791 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the sale, the vice president now directly owns 121,461 shares in the company, valued at $21,989,299.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,355 shares of company stock worth $9,877,423. Insiders own 10.80% of the company’s stock.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $184.71 on Thursday. The company has a market capitalization of $1.92 trillion, a P/E ratio of 51.74, a price-to-earnings-growth ratio of 1.38 and a beta of 1.14. The company’s 50-day moving average is $183.11 and its 200 day moving average is $183.54. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. Amazon.com, Inc. has a fifty-two week low of $118.35 and a fifty-two week high of $201.20.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The firm had revenue of $147.98 billion for the quarter, compared to analysts’ expectations of $148.63 billion. On average, equities research analysts forecast that Amazon.com, Inc. will post 4.85 earnings per share 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.