Lord Abbett & CO. LLC Increases Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Lord Abbett & CO. LLC boosted its position in Amazon.com, Inc. (NASDAQ:AMZN) by 27.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,841,846 shares of the e-commerce giant’s stock after acquiring an additional 391,804 shares during the quarter. Amazon.com accounts for 1.3% of Lord Abbett & CO. LLC’s holdings, making the stock its 6th largest holding. Lord Abbett & CO. LLC’s holdings in Amazon.com were worth $404,083,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the company. Rothschild Capital Partners LLC increased its stake in Amazon.com by 9.3% in the fourth quarter. Rothschild Capital Partners LLC now owns 138,729 shares of the e-commerce giant’s stock valued at $30,436,000 after acquiring an additional 11,850 shares during the last quarter. Kovitz Investment Group Partners LLC increased its stake in Amazon.com by 193.9% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,360,335 shares of the e-commerce giant’s stock valued at $1,176,005,000 after acquiring an additional 3,536,276 shares during the last quarter. Topsail Wealth Management LLC bought a new position in Amazon.com in the fourth quarter valued at approximately $2,726,000. Keyvantage Wealth LLC bought a new position in Amazon.com in the fourth quarter valued at approximately $2,735,000. Finally, Hancock Whitney Corp boosted its position in Amazon.com by 5.7% in the fourth quarter. Hancock Whitney Corp now owns 457,440 shares of the e-commerce giant’s stock valued at $100,358,000 after buying an additional 24,570 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, VP Shelley Reynolds sold 8,833 shares of Amazon.com stock in a transaction on Friday, February 21st. The shares were sold at an average price of $222.47, for a total value of $1,965,077.51. Following the completion of the sale, the vice president now directly owns 119,780 shares of the company’s stock, valued at approximately $26,647,456.60. The trade was a 6.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction on Friday, February 21st. The shares were sold at an average price of $220.65, for a total transaction of $4,585,989.60. Following the completion of the sale, the chief executive officer now directly owns 2,118,886 shares of the company’s stock, valued at approximately $467,532,195.90. This trade represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,798 shares of company stock valued at $17,696,733. Corporate insiders own 9.70% of the company’s stock.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $205.59 on Friday. Amazon.com, Inc. has a twelve month low of $151.61 and a twelve month high of $242.52. The firm has a fifty day simple moving average of $189.33 and a 200 day simple moving average of $208.61. The company has a market capitalization of $2.18 trillion, a PE ratio of 37.18, a P/E/G ratio of 1.50 and a beta of 1.30. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.21. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. The firm had revenue of $155.67 billion during the quarter, compared to the consensus estimate of $154.96 billion. During the same period in the previous year, the firm posted $0.98 earnings per share. The business’s revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Citigroup restated an “outperform” rating on shares of Amazon.com in a research report on Friday, May 2nd. Truist Financial cut their target price on shares of Amazon.com from $265.00 to $230.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. UBS Group restated a “buy” rating on shares of Amazon.com in a research report on Tuesday, May 6th. Stifel Nicolaus cut their target price on shares of Amazon.com from $248.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Finally, Benchmark restated a “buy” rating and issued a $260.00 target price on shares of Amazon.com in a research report on Friday, May 2nd. Four analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, Amazon.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.09.

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.