Ninety One SA PTY Ltd Acquires 10,753 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Ninety One SA PTY Ltd increased its stake in Amazon.com by 5.8% during Q1, acquiring an additional 10,753 shares, valuing their total holdings at approximately $36.75 million.
• Several institutional investors, including Vanguard Group and FMR LLC, have also increased their positions in Amazon during the last quarter, showcasing strong institutional confidence in the company.
• Amazon reported a strong earnings quarter with $1.68 earnings per share, exceeding estimates, and a revenue increase of 13.3% year-over-year, totaling $167.70 billion.

Ninety One SA PTY Ltd lifted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 5.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 195,567 shares of the e-commerce giant's stock after buying an additional 10,753 shares during the quarter. Amazon.com makes up about 6.8% of Ninety One SA PTY Ltd's investment portfolio, making the stock its 2nd largest holding. Ninety One SA PTY Ltd's holdings in Amazon.com were worth $36,752,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Northern Capital Management Inc. increased its stake in Amazon.com by 0.6% in the fourth quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant's stock valued at $1,613,000 after purchasing an additional 45 shares during the period. Balanced Wealth Group LLC lifted its stake in shares of Amazon.com by 1.6% during the fourth quarter. Balanced Wealth Group LLC now owns 2,966 shares of the e-commerce giant's stock valued at $705,000 after buying an additional 48 shares during the period. ETF Store Inc. lifted its stake in shares of Amazon.com by 2.1% during the fourth quarter. ETF Store Inc. now owns 2,378 shares of the e-commerce giant's stock valued at $522,000 after buying an additional 48 shares during the period. Chatham Capital Group Inc. lifted its stake in shares of Amazon.com by 0.8% during the fourth quarter. Chatham Capital Group Inc. now owns 6,019 shares of the e-commerce giant's stock valued at $1,321,000 after buying an additional 50 shares during the period. Finally, Foundry Financial Group Inc. lifted its stake in shares of Amazon.com by 3.5% during the fourth quarter. Foundry Financial Group Inc. now owns 1,507 shares of the e-commerce giant's stock valued at $331,000 after buying an additional 51 shares during the period. Institutional investors and hedge funds own 72.20% of the company's stock.

Analyst Ratings Changes

AMZN has been the subject of several research analyst reports. Citigroup upped their price target on shares of Amazon.com from $265.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday. Evercore ISI lowered their price target on shares of Amazon.com from $270.00 to $260.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Cantor Fitzgerald increased their price objective on shares of Amazon.com from $260.00 to $280.00 and gave the company an "overweight" rating in a research note on Friday. Pivotal Research raised their price target on shares of Amazon.com from $260.00 to $285.00 and gave the stock a "buy" rating in a research report on Friday. Finally, HSBC raised their target price on shares of Amazon.com from $240.00 to $256.00 in a research note on Tuesday, July 22nd. One equities research analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Amazon.com has a consensus rating of "Buy" and a consensus price target of $262.45.

Amazon.com Stock Down 8.3%

NASDAQ AMZN traded down $19.36 during trading hours on Friday, reaching $214.75. 122,007,379 shares of the company's stock were exchanged, compared to its average volume of 43,924,596. The company has a market capitalization 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. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $242.52. The company's 50-day moving average is $218.20 and its two-hundred day moving average is $209.11. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 1.02.

Amazon.com (NASDAQ:AMZN - Get Free Report) 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 the consensus estimate 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 during the quarter, compared to the consensus estimate of $161.80 billion. During the same quarter last year, the firm posted $1.26 EPS. The company's quarterly revenue was up 13.3% on a year-over-year basis. On average, analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Activity at Amazon.com

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of the firm's stock in a transaction on Friday, July 11th. The stock was sold at an average price of $224.81, for a total value of $960,666,409.97. Following the transaction, the insider owned 897,722,088 shares in the company, valued at approximately $201,816,902,603.28. This trade represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 25,099,537 shares of company stock valued at $5,674,394,548 in the last quarter. 10.80% of the stock is currently owned by company insiders.

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.