Connor Clark & Lunn Investment Management Ltd. Cuts Stock Holdings in Amazon.com, Inc. $AMZN

Connor Clark & Lunn Investment Management Ltd. reduced its position in Amazon.com, Inc. (NASDAQ:AMZN) by 10.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 821,471 shares of the e-commerce giant’s stock after selling 99,895 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Amazon.com were worth $180,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wilson Asset Management International PTY Ltd. purchased a new position in shares of Amazon.com during the 2nd quarter valued at approximately $11,102,000. ARK Investment Management LLC raised its position in Amazon.com by 8.3% during the second quarter. ARK Investment Management LLC now owns 1,140,494 shares of the e-commerce giant’s stock worth $250,213,000 after acquiring an additional 86,978 shares during the period. Buckhead Capital Management LLC raised its position in Amazon.com by 16.1% during the second quarter. Buckhead Capital Management LLC now owns 28,407 shares of the e-commerce giant’s stock worth $6,232,000 after acquiring an additional 3,948 shares during the period. Flaharty Asset Management LLC lifted its holdings in Amazon.com by 87.7% during the first quarter. Flaharty Asset Management LLC now owns 5,088 shares of the e-commerce giant’s stock valued at $968,000 after purchasing an additional 2,377 shares in the last quarter. Finally, Border to Coast Pensions Partnership Ltd grew its position in shares of Amazon.com by 6.0% in the second quarter. Border to Coast Pensions Partnership Ltd now owns 1,136,311 shares of the e-commerce giant’s stock valued at $249,295,000 after purchasing an additional 63,924 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Activity

In other Amazon.com news, CEO Douglas J. Herrington sold 2,500 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $233.22, for a total value of $583,050.00. Following the transaction, the chief executive officer directly owned 505,934 shares in the company, valued at $117,993,927.48. The trade was a 0.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Andrew R. Jassy sold 19,872 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $216.94, for a total transaction of $4,311,031.68. Following the completion of the sale, the chief executive officer directly owned 2,208,310 shares of the company’s stock, valued at approximately $479,070,771.40. This trade represents a 0.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 82,234 shares of company stock valued at $19,076,767 in the last quarter. Insiders own 9.70% of the company’s stock.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $229.11 on Friday. The business’s 50 day moving average price is $228.38 and its 200 day moving average price is $223.65. The company has a market cap of $2.45 trillion, a price-to-earnings ratio of 32.36, a PEG ratio of 1.60 and a beta of 1.37. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.80 and a current ratio of 1.01. Amazon.com, Inc. has a one year low of $161.38 and a one year high of $258.60.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, October 30th. The e-commerce giant reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.38. Amazon.com had a return on equity of 23.62% and a net margin of 11.06%.The company had revenue of $180.17 billion during the quarter, compared to analysts’ expectations of $177.53 billion. During the same period in the prior year, the business earned $1.43 EPS. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. On average, research analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AMZN shares. KeyCorp boosted their target price on shares of Amazon.com from $300.00 to $303.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Wolfe Research boosted their price objective on Amazon.com from $265.00 to $270.00 in a research note on Tuesday, September 30th. Evercore ISI increased their target price on Amazon.com from $280.00 to $335.00 and gave the company an “outperform” rating in a report on Friday, October 31st. CIBC lifted their price target on Amazon.com to $315.00 in a research note on Monday, October 20th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and set a $305.00 price target on shares of Amazon.com in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, fifty-seven have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Amazon.com has a consensus rating of “Moderate Buy” and a consensus price target of $296.11.

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.