Clark Capital Management Group Inc. Increases Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Clark Capital Management Group Inc. increased its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 27.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 634,276 shares of the e-commerce giant’s stock after acquiring an additional 137,492 shares during the period. Amazon.com makes up approximately 1.0% of Clark Capital Management Group Inc.’s investment portfolio, making the stock its 18th biggest position. Clark Capital Management Group Inc.’s holdings in Amazon.com were worth $139,154,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AMZN. Cable Hill Partners LLC increased its stake in Amazon.com by 0.5% during the 4th quarter. Cable Hill Partners LLC now owns 9,588 shares of the e-commerce giant’s stock worth $2,104,000 after buying an additional 44 shares in the last quarter. Quattro Financial Advisors LLC boosted its stake in shares of Amazon.com by 23.8% in the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock worth $51,000 after acquiring an additional 45 shares during the last quarter. Northern Capital Management Inc. increased its position in shares of Amazon.com by 0.6% during the fourth quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant’s stock worth $1,613,000 after purchasing an additional 45 shares in the last quarter. White Wing Wealth Management increased its position in shares of Amazon.com by 2.4% during the fourth quarter. White Wing Wealth Management now owns 1,972 shares of the e-commerce giant’s stock worth $433,000 after purchasing an additional 47 shares in the last quarter. Finally, MBM Wealth Consultants LLC raised its stake in Amazon.com by 0.6% in the 4th quarter. MBM Wealth Consultants LLC now owns 8,578 shares of the e-commerce giant’s stock valued at $1,889,000 after purchasing an additional 48 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wedbush reissued an “outperform” rating and issued a $235.00 price target (up from $225.00) on shares of Amazon.com in a research note on Friday, May 2nd. Tigress Financial raised their target price on shares of Amazon.com from $290.00 to $305.00 and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Truist Financial lowered their target price on Amazon.com from $265.00 to $230.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. DA Davidson cut their price target on Amazon.com from $280.00 to $230.00 and set a “buy” rating for the company in a report on Monday, April 14th. Finally, Evercore ISI reduced their price objective on Amazon.com from $270.00 to $260.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company. Based on data from MarketBeat, Amazon.com presently has a consensus rating of “Moderate Buy” and an average target price of $244.09.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $200.99 on Monday. The business has a 50-day simple moving average of $190.05 and a 200 day simple moving average of $208.80. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $242.52. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. The firm has a market capitalization of $2.13 trillion, a price-to-earnings ratio of 36.35, a PEG ratio of 1.50 and a beta of 1.30.

Amazon.com (NASDAQ:AMZN) last announced 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. The business had revenue of $155.67 billion for the quarter, compared to analysts’ expectations of $154.96 billion. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 EPS. On average, research analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Amazon.com news, Director Keith Brian Alexander sold 1,000 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $210.68, for a total transaction of $210,680.00. Following the completion of the transaction, the director now owns 5,465 shares in the company, valued at $1,151,366.20. This trade represents a 15.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew R. Jassy sold 19,872 shares of the business’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total transaction of $4,000,233.60. Following the sale, the chief executive officer now directly owns 2,148,694 shares in the company, valued at $432,532,102.20. The trade was a 0.92% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 99,537 shares of company stock worth $20,018,625. 9.70% of the stock is owned by company 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.