Kraft Asset Management LLC Increases Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Kraft Asset Management LLC grew its position in Amazon.com, Inc. (NASDAQ:AMZN) by 10.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,241 shares of the e-commerce giant’s stock after acquiring an additional 115 shares during the quarter. Kraft Asset Management LLC’s holdings in Amazon.com were worth $231,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Gries Financial LLC boosted its holdings in Amazon.com by 31.9% in the third quarter. Gries Financial LLC now owns 25,151 shares of the e-commerce giant’s stock valued at $4,686,000 after purchasing an additional 6,079 shares during the last quarter. Legacy Financial Strategies LLC grew its stake in Amazon.com by 15.2% in the third quarter. Legacy Financial Strategies LLC now owns 10,806 shares of the e-commerce giant’s stock worth $2,013,000 after purchasing an additional 1,426 shares in the last quarter. Continuum Wealth Advisors LLC raised its stake in Amazon.com by 4.8% during the third quarter. Continuum Wealth Advisors LLC now owns 2,260 shares of the e-commerce giant’s stock valued at $421,000 after buying an additional 103 shares in the last quarter. Schubert & Co acquired a new position in shares of Amazon.com in the 3rd quarter valued at about $222,000. Finally, Slow Capital Inc. raised its position in shares of Amazon.com by 1.1% during the 3rd quarter. Slow Capital Inc. now owns 127,471 shares of the e-commerce giant’s stock worth $23,752,000 after purchasing an additional 1,332 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AMZN shares. Morgan Stanley raised their price target on shares of Amazon.com from $210.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $230.00 target price on shares of Amazon.com in a research report on Monday, October 7th. Oppenheimer increased their price objective on Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. TD Cowen increased their target price on shares of Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Monness Crespi & Hardt lifted their price objective on Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and an average price target of $235.45.

Insider Activity at Amazon.com

In other Amazon.com news, Director Jonathan Rubinstein sold 4,766 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $209.85, for a total transaction of $1,000,145.10. Following the transaction, the director now owns 94,630 shares in the company, valued at $19,858,105.50. This represents a 4.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 24,912 shares of the company’s stock, valued at $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,011,423 shares of company stock valued at $1,249,093,896. 10.80% of the stock is owned by corporate insiders.

Amazon.com Stock Performance

AMZN stock opened at $204.61 on Wednesday. The company has a market cap of $2.15 trillion, a P/E ratio of 43.81, a price-to-earnings-growth ratio of 1.36 and a beta of 1.14. The business’s fifty day moving average is $192.19 and its 200-day moving average is $186.06. 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 twelve month low of $141.50 and a twelve month high of $215.90.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter in the prior year, the company earned $0.85 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities research analysts forecast that Amazon.com, Inc. will post 5.27 EPS 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.