Cortland Associates Inc. MO Has $44.90 Million Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Cortland Associates Inc. MO reduced its stake in Amazon.com, Inc. by 0.8%, now holding 235,980 shares valued at approximately $44.9 million, making it the firm’s 7th largest position.
• Several analysts recently raised their target prices for Amazon, with BMO Capital Markets increasing it to $280.00, while the consensus price target is currently set at $262.45.
• Amazon's quarterly earnings report showed earnings per share at $1.68, exceeding predictions, and revenue growth of 13.3% year-over-year.

Cortland Associates Inc. MO cut its position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 0.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 235,980 shares of the e-commerce giant's stock after selling 1,909 shares during the quarter. Amazon.com makes up 5.4% of Cortland Associates Inc. MO's investment portfolio, making the stock its 7th biggest holding. Cortland Associates Inc. MO's holdings in Amazon.com were worth $44,897,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AMZN. Omega Financial Group LLC grew its stake in shares of Amazon.com by 7.6% in the 1st quarter. Omega Financial Group LLC now owns 1,234 shares of the e-commerce giant's stock valued at $235,000 after purchasing an additional 87 shares during the last quarter. Blue Square Asset Management LLC grew its stake in shares of Amazon.com by 16.5% in the 1st quarter. Blue Square Asset Management LLC now owns 27,221 shares of the e-commerce giant's stock valued at $5,179,000 after purchasing an additional 3,855 shares during the last quarter. Austin Wealth Management LLC grew its stake in shares of Amazon.com by 15.8% in the 1st quarter. Austin Wealth Management LLC now owns 14,363 shares of the e-commerce giant's stock valued at $2,679,000 after purchasing an additional 1,958 shares during the last quarter. Manuka Financial LLC grew its stake in shares of Amazon.com by 17.9% in the 1st quarter. Manuka Financial LLC now owns 4,863 shares of the e-commerce giant's stock valued at $925,000 after purchasing an additional 740 shares during the last quarter. Finally, Callahan Advisors LLC grew its stake in shares of Amazon.com by 2.7% in the 1st quarter. Callahan Advisors LLC now owns 216,442 shares of the e-commerce giant's stock valued at $41,180,000 after purchasing an additional 5,639 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Stock Down 0.2%

Shares of AMZN traded down $0.44 during midday trading on Friday, reaching $222.69. 32,911,537 shares of the stock were exchanged, compared to its average volume of 47,624,592. Amazon.com, Inc. has a 12-month low of $161.38 and a 12-month high of $242.52. The firm has a 50 day simple moving average of $219.65 and a 200-day simple moving average of $208.98. 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 $2.37 trillion, a price-to-earnings ratio of 33.95, a P/E/G ratio of 1.50 and a beta of 1.31.

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

Insider Activity at Amazon.com

In other news, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com 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 sale, the chief executive officer owned 512,050 shares of the company's stock, valued at approximately $111,114,850. This trade represents a 0.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey P. Bezos sold 2,643,142 shares of Amazon.com stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $230.43, for a total value of $609,059,211.06. Following the sale, the insider directly owned 883,779,901 shares in the company, valued at $203,649,402,587.43. The trade was a 0.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,102,037 shares of company stock worth $5,674,937,048 in the last three months. 9.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on AMZN shares. Wells Fargo & Company raised their price target on Amazon.com from $238.00 to $245.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. Rosenblatt Securities raised their price target on Amazon.com from $288.00 to $297.00 and gave the company a "buy" rating in a report on Friday, August 1st. Wedbush raised their price target on Amazon.com from $235.00 to $250.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Raymond James Financial reissued an "outperform" rating and issued a $195.00 price target (down from $275.00) on shares of Amazon.com in a report on Monday, April 21st. Finally, Monness Crespi & Hardt raised their price target on Amazon.com from $265.00 to $275.00 and gave the company a "buy" rating in a report on Friday, August 1st. One investment analyst has rated the stock with a hold rating, forty-seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $262.45.

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.