Harvey Capital Management Inc. Boosts Position in Amazon.com, Inc. (NASDAQ:AMZN)

Harvey Capital Management Inc. raised its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 152,616 shares of the e-commerce giant’s stock after purchasing an additional 580 shares during the quarter. Amazon.com accounts for about 7.1% of Harvey Capital Management Inc.’s holdings, making the stock its 2nd biggest holding. Harvey Capital Management Inc.’s holdings in Amazon.com were worth $28,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. grew its holdings in shares of Amazon.com by 31.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 182,359 shares of the e-commerce giant’s stock valued at $32,894,000 after buying an additional 43,759 shares during the last quarter. Quent Capital LLC lifted its holdings in shares of Amazon.com by 3.3% during the first quarter. Quent Capital LLC now owns 33,729 shares of the e-commerce giant’s stock valued at $6,084,000 after purchasing an additional 1,081 shares in the last quarter. KLCM Advisors Inc. increased its holdings in Amazon.com by 15.9% in the 1st quarter. KLCM Advisors Inc. now owns 13,890 shares of the e-commerce giant’s stock worth $2,505,000 after buying an additional 1,902 shares in the last quarter. WealthPlan Investment Management LLC raised its position in Amazon.com by 1.8% in the 1st quarter. WealthPlan Investment Management LLC now owns 46,935 shares of the e-commerce giant’s stock worth $8,466,000 after buying an additional 822 shares during the last quarter. Finally, iA Global Asset Management Inc. grew its stake in shares of Amazon.com by 1.0% in the first quarter. iA Global Asset Management Inc. now owns 2,041,539 shares of the e-commerce giant’s stock worth $368,253,000 after acquiring an additional 21,057 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on AMZN shares. Needham & Company LLC reiterated a “buy” rating and set a $250.00 price objective on shares of Amazon.com in a research report on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $230.00 target price on shares of Amazon.com in a report on Monday, October 7th. Mizuho upped their price objective on Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Tuesday. Stifel Nicolaus lifted their target price on Amazon.com from $224.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, The Goldman Sachs Group raised their price objective on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $237.42.

Insider Activity at Amazon.com

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’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 value of $246,237.22. Following the transaction, the director now owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Matthew S. Garman sold 15,260 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $200.19, for a total value of $3,054,899.40. Following the completion of the transaction, the chief executive officer now directly owns 349,261 shares in the company, valued at approximately $69,918,559.59. This represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,034,534 shares of company stock worth $1,253,883,872 over the last ninety days. 10.80% of the stock is owned by corporate insiders.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $230.26 on Thursday. The firm has a market capitalization of $2.42 trillion, a P/E ratio of 49.31, a P/E/G ratio of 1.52 and a beta of 1.16. 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 stock’s 50-day simple moving average is $198.98 and its two-hundred day simple moving average is $188.78. Amazon.com, Inc. has a twelve month low of $144.05 and a twelve month high of $231.20.

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