Connor Clark & Lunn Investment Management Ltd. Has $85.86 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Connor Clark & Lunn Investment Management Ltd. decreased its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 78.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 460,771 shares of the e-commerce giant’s stock after selling 1,718,124 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Amazon.com were worth $85,855,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in AMZN. Semus Wealth Partners LLC boosted its holdings in shares of Amazon.com by 0.3% during the third quarter. Semus Wealth Partners LLC now owns 17,920 shares of the e-commerce giant’s stock worth $3,339,000 after purchasing an additional 49 shares during the period. Meridian Investment Counsel Inc. raised its position in Amazon.com by 1.8% during the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock valued at $594,000 after purchasing an additional 55 shares during the last quarter. O Connor Financial Group LLC lifted its holdings in Amazon.com by 2.2% in the 3rd quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock worth $473,000 after buying an additional 55 shares during the period. Cherrydale Wealth Management LLC grew its position in shares of Amazon.com by 0.7% in the 3rd quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock worth $1,396,000 after buying an additional 55 shares during the last quarter. Finally, Cedar Point Capital Partners LLC increased its stake in shares of Amazon.com by 4.4% during the third quarter. Cedar Point Capital Partners LLC now owns 1,324 shares of the e-commerce giant’s stock valued at $247,000 after buying an additional 56 shares during the period. 72.20% of the stock is currently owned by institutional investors.

Amazon.com Stock Performance

Shares of AMZN opened at $219.39 on Wednesday. The stock has a 50-day simple moving average of $210.97 and a 200-day simple moving average of $193.40. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. Amazon.com, Inc. has a 1 year low of $144.05 and a 1 year high of $233.00. The stock has a market capitalization of $2.31 trillion, a PE ratio of 46.98, a PEG ratio of 1.54 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last posted its 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. The firm had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.85 earnings per share. On average, analysts predict that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AMZN has been the subject of several research analyst reports. Stifel Nicolaus raised their target price on shares of Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Mizuho raised their price objective on shares of Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Moffett Nathanson upped their target price on Amazon.com from $235.00 to $248.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Roth Mkm increased their target price on Amazon.com from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Pivotal Research assumed coverage on Amazon.com in a research report on Friday, October 11th. They set a “buy” rating and a $260.00 price target on the stock. Two investment 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 stock. According to MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and an average target price of $243.00.

Insider Buying and Selling

In other Amazon.com news, Director Jonathan Rubinstein sold 4,351 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the completion of the sale, the director now directly owns 88,203 shares of the company’s stock, valued at $20,273,459.55. This represents a 4.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $210.00, for a total value of $735,000.00. Following the sale, the chief executive officer now owns 524,567 shares of the company’s stock, valued at $110,159,070. This trade represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,032,344 shares of company stock worth $1,253,456,822 in the last quarter. 10.80% of the stock is owned by insiders.

Amazon.com Company 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.