Clark Capital Management Group Inc. Increases Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Clark Capital Management Group Inc. increased its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 27.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 634,276 shares of the e-commerce giant's stock after buying an additional 137,492 shares during the quarter. Amazon.com comprises approximately 1.0% of Clark Capital Management Group Inc.'s investment portfolio, making the stock its 18th biggest holding. Clark Capital Management Group Inc.'s holdings in Amazon.com were worth $139,154,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Amazon.com during the 4th quarter worth about $27,266,582,000. Capital World Investors boosted its position in shares of Amazon.com by 36.8% during the 4th quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant's stock worth $14,416,078,000 after purchasing an additional 17,681,004 shares during the period. Vanguard Group Inc. boosted its position in shares of Amazon.com by 2.2% during 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 purchasing an additional 17,635,391 shares during the period. Proficio Capital Partners LLC lifted its holdings in Amazon.com by 17,054.5% during the 4th quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant's stock worth $2,652,116,000 after buying an additional 12,018,120 shares in the last quarter. Finally, Capital International Investors lifted its holdings in Amazon.com by 26.5% during the 4th quarter. Capital International Investors now owns 57,268,523 shares of the e-commerce giant's stock worth $12,564,961,000 after buying an additional 12,000,745 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Price Performance

Shares of NASDAQ AMZN traded up $5.03 during midday trading on Tuesday, reaching $206.02. 34,776,251 shares of the stock traded hands, compared to its average volume of 41,992,291. The stock has a market capitalization of $2.19 trillion, a PE ratio of 37.25, a P/E/G ratio of 1.50 and a beta of 1.30. The company's 50 day moving average is $190.16 and its 200 day moving average is $208.75. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $242.52. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.21. The firm had revenue of $155.67 billion during the quarter, compared to the consensus estimate of $154.96 billion. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. The firm's quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 earnings per share. On average, equities research analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Activity at Amazon.com

In other news, VP Shelley Reynolds sold 2,695 shares of Amazon.com stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $200.79, for a total value of $541,129.05. Following the completion of the transaction, the vice president now owns 119,780 shares in the company, valued at approximately $24,050,626.20. This trade represents a 2.20% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Douglas J. Herrington sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $187.99, for a total value of $469,975.00. Following the sale, the chief executive officer now owns 509,474 shares of the company's stock, valued at approximately $95,776,017.26. 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 sold 99,537 shares of company stock valued at $20,018,625. 9.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AMZN has been the topic of a number of recent analyst reports. Truist Financial dropped their target price on shares of Amazon.com from $265.00 to $230.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. DA Davidson cut their target price on shares of Amazon.com from $280.00 to $230.00 and set a "buy" rating for the company in a research report on Monday, April 14th. UBS Group restated a "buy" rating on shares of Amazon.com in a report on Tuesday, May 6th. Needham & Company LLC reiterated a "buy" rating and set a $220.00 price objective on shares of Amazon.com in a research note on Friday, May 2nd. Finally, Evercore ISI decreased their target price on shares of Amazon.com from $270.00 to $260.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $244.09.

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.