Intact Investment Management Inc. Raises Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Intact Investment Management Inc. raised its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 4.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,160 shares of the e-commerce giant’s stock after acquiring an additional 1,400 shares during the period. Intact Investment Management Inc.’s holdings in Amazon.com were worth $5,806,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legal & General Group Plc lifted its position in Amazon.com by 1.5% during the 2nd quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock worth $13,466,933,000 after acquiring an additional 1,042,177 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Amazon.com by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock worth $13,091,909,000 after acquiring an additional 289,532 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Amazon.com by 3.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 40,973,804 shares of the e-commerce giant’s stock worth $7,917,906,000 after purchasing an additional 1,329,150 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Amazon.com by 20,897.2% in the 3rd quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after purchasing an additional 38,949,065 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Amazon.com by 1.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 31,883,977 shares of the e-commerce giant’s stock worth $6,161,579,000 after purchasing an additional 464,938 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AMZN shares. Jefferies Financial Group upped their price target on Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft upped their price target on shares of Amazon.com from $225.00 to $232.00 and gave the company a “buy” rating in a report on Friday, November 1st. Oppenheimer upped their price target on shares of Amazon.com from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Loop Capital upped their target price on Amazon.com from $225.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Piper Sandler lifted their target price on shares of Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $237.42.

Amazon.com Stock Performance

Shares of NASDAQ:AMZN opened at $230.26 on Thursday. Amazon.com, Inc. has a fifty-two week low of $144.05 and a fifty-two week high of $231.20. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The company has a market capitalization of $2.42 trillion, a price-to-earnings ratio of 49.31, a P/E/G ratio of 1.52 and a beta of 1.16. The firm’s 50 day simple moving average is $198.98 and its 200 day simple moving average is $188.78.

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, topping analysts’ consensus estimates of $1.14 by $0.29. The firm had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 EPS. As a group, sell-side analysts forecast that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Insiders Place Their Bets

In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the transaction, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at $12,171,900. The trade was a 3.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew S. Garman sold 15,260 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were 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 of the company’s stock, valued at approximately $69,918,559.59. This trade represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,034,534 shares of company stock valued at $1,253,883,872. 10.80% of the stock is currently owned by corporate insiders.

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.