Kornitzer Capital Management Inc. KS Raises Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Kornitzer Capital Management Inc. KS raised its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 1.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 261,171 shares of the e-commerce giant’s stock after buying an additional 2,499 shares during the period. Amazon.com comprises about 1.0% of Kornitzer Capital Management Inc. KS’s investment portfolio, making the stock its 22nd biggest position. Kornitzer Capital Management Inc. KS’s holdings in Amazon.com were worth $49,690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Amazon.com by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock worth $180,637,081,000 after buying an additional 17,635,391 shares during the last quarter. FMR LLC increased its holdings in shares of Amazon.com by 0.5% in the 4th quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant’s stock worth $72,061,766,000 after buying an additional 1,725,664 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Amazon.com by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant’s stock worth $44,837,256,000 after buying an additional 5,015,380 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Amazon.com by 2.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 182,813,905 shares of the e-commerce giant’s stock worth $40,107,544,000 after buying an additional 4,087,933 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Amazon.com in the 4th quarter worth $27,266,582,000. Institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Performance

Shares of NASDAQ AMZN opened at $221.47 on Wednesday. The firm’s 50-day moving average price is $220.25 and its 200-day moving average price is $208.61. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The company has a market cap of $2.36 trillion, a PE ratio of 33.76, a PEG ratio of 1.49 and a beta of 1.31. Amazon.com, Inc. has a 52-week low of $161.38 and a 52-week high of $242.52.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.37. The firm had revenue of $167.70 billion for the quarter, compared to the consensus estimate of $161.80 billion. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.26 EPS. As a group, analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AMZN. DA Davidson upped their price objective on shares of Amazon.com from $230.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Benchmark reaffirmed a “buy” rating and issued a $260.00 price objective on shares of Amazon.com in a research note on Friday, May 2nd. Sanford C. Bernstein set a $235.00 price objective on shares of Amazon.com and gave the company an “outperform” rating in a research note on Tuesday, July 1st. Wall Street Zen raised shares of Amazon.com from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Finally, Oppenheimer cut their price objective on shares of Amazon.com from $250.00 to $245.00 and set an “outperform” rating for the company in a research note on Friday, August 1st. One analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $262.45.

Insider Transactions at Amazon.com

In related news, insider Jeffrey P. Bezos sold 2,643,142 shares of the firm’s stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $230.43, for a total value of $609,059,211.06. Following the transaction, the insider owned 883,779,901 shares of the company’s stock, valued at approximately $203,649,402,587.43. This trade represents a 0.30% 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 Douglas J. Herrington sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $217.00, for a total transaction of $542,500.00. Following the completion of the transaction, the chief executive officer directly owned 512,050 shares in the company, valued at approximately $111,114,850. The trade was a 0.49% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,101,037 shares of company stock worth $5,674,726,368. Insiders own 10.80% of the company’s stock.

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.