Ninety One UK Ltd Has $1.09 Billion Position in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Ninety One UK Ltd increased its holdings in Amazon.com by 9.2%, owning approximately 5,725,899 shares, which represents 3.0% of the firm's total holdings.
• Amazon's stock recently experienced a price target adjustment, with Oppenheimer lowering it to $245.00 while other analysts maintain a consensus rating of "Buy".
• Insider Jeffrey P. Bezos sold over 4.27 million shares of Amazon stock for approximately $960.67 million, decreasing his ownership by 0.47%.

Ninety One UK Ltd raised its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 9.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,725,899 shares of the e-commerce giant's stock after purchasing an additional 484,714 shares during the quarter. Amazon.com accounts for 3.0% of Ninety One UK Ltd's investment portfolio, making the stock its 7th largest position. Ninety One UK Ltd owned approximately 0.05% of Amazon.com worth $1,089,410,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Prudent Man Investment Management Inc. purchased a new stake in Amazon.com during the 4th quarter worth about $27,000. LSV Asset Management bought a new position in Amazon.com in the 4th quarter worth about $35,000. Perritt Capital Management Inc increased its stake in Amazon.com by 72.7% in the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock worth $42,000 after acquiring an additional 80 shares during the last quarter. Cooksen Wealth LLC bought a new position in Amazon.com in the 1st quarter worth about $36,000. Finally, Inlight Wealth Management LLC bought a new position in Amazon.com in the 1st quarter worth about $40,000. Hedge funds and other institutional investors own 72.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on AMZN shares. Wedbush upped their target price on Amazon.com from $235.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday. Jefferies Financial Group raised their price target on Amazon.com from $255.00 to $265.00 in a research report on Wednesday, July 16th. Deutsche Bank Aktiengesellschaft increased their price objective on Amazon.com from $230.00 to $266.00 in a report on Tuesday, July 22nd. BMO Capital Markets lifted their price objective on Amazon.com from $270.00 to $280.00 and gave the company an "outperform" rating in a research note on Friday. Finally, Moffett Nathanson lifted their target price on Amazon.com from $250.00 to $253.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. One analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $262.45.

Insider Activity at Amazon.com

In other news, insider Jeffrey P. Bezos sold 4,273,237 shares of the business's stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the completion of the transaction, the insider directly owned 897,722,088 shares in the company, valued at approximately $201,816,902,603.28. The trade was a 0.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold 25,099,537 shares of company stock worth $5,674,394,548 over the last three months. 10.80% of the stock is currently owned by corporate insiders.

Amazon.com Trading Down 8.3%

Shares of NASDAQ:AMZN traded down $19.36 during midday trading on Friday, reaching $214.75. The company's stock had a trading volume of 122,007,379 shares, compared to its average volume of 43,924,596. The firm has a market cap of $2.28 trillion, a price-to-earnings ratio of 32.74, a price-to-earnings-growth ratio of 1.57 and a beta of 1.31. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The business has a 50 day moving average price of $218.20 and a 200 day moving average price of $209.11.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 EPS for the quarter, topping the consensus estimate of $1.31 by $0.37. The business had revenue of $167.70 billion for the quarter, compared to analysts' expectations of $161.80 billion. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%. The company's revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.26 earnings per share. Research analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current year.

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.