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

Clark Capital Management Group Inc. grew its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 27.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 634,276 shares of the e-commerce giant's stock after purchasing an additional 137,492 shares during the period. Amazon.com makes up approximately 1.0% of Clark Capital Management Group Inc.'s holdings, making the stock its 18th largest position. Clark Capital Management Group Inc.'s holdings in Amazon.com were worth $139,154,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in AMZN. Coastal Bridge Advisors LLC increased its position in Amazon.com by 13.3% during the 4th quarter. Coastal Bridge Advisors LLC now owns 24,986 shares of the e-commerce giant's stock valued at $5,482,000 after buying an additional 2,928 shares in the last quarter. Driehaus Capital Management LLC grew its stake in shares of Amazon.com by 2.9% in the fourth quarter. Driehaus Capital Management LLC now owns 9,943 shares of the e-commerce giant's stock worth $2,181,000 after acquiring an additional 277 shares during the last quarter. Diligent Investors LLC increased its holdings in shares of Amazon.com by 1.7% during the fourth quarter. Diligent Investors LLC now owns 18,212 shares of the e-commerce giant's stock valued at $3,995,000 after acquiring an additional 311 shares in the last quarter. Duquesne Family Office LLC bought a new position in shares of Amazon.com during the fourth quarter valued at $72,048,000. Finally, Eagle Global Advisors LLC boosted its stake in Amazon.com by 1.4% in the 4th quarter. Eagle Global Advisors LLC now owns 237,793 shares of the e-commerce giant's stock worth $52,169,000 after purchasing an additional 3,275 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

Amazon.com Price Performance

Shares of AMZN stock traded up $0.98 on Thursday, hitting $205.70. 34,630,040 shares of the stock traded hands, compared to its average volume of 41,998,938. 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, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52. The firm has a 50 day simple moving average of $190.60 and a two-hundred day simple moving average of $208.70. The firm has a market cap of $2.18 trillion, a price-to-earnings ratio of 37.20, a PEG ratio of 1.50 and a beta of 1.30.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.21. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. The business had revenue of $155.67 billion for the quarter, compared to analysts' expectations of $154.96 billion. During the same period last year, the firm earned $0.98 earnings per share. The business's quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Piper Sandler restated an "overweight" rating and set a $212.00 price objective (down from $215.00) on shares of Amazon.com in a research note on Friday, May 2nd. Needham & Company LLC reissued a "buy" rating and set a $220.00 price target on shares of Amazon.com in a research report on Friday, May 2nd. Tigress Financial upped their price objective on Amazon.com from $290.00 to $305.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Jefferies Financial Group cut their target price on Amazon.com from $250.00 to $240.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. boosted their price target on Amazon.com from $220.00 to $225.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Four analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $244.09.

Insider Buying and Selling

In related news, VP Shelley Reynolds sold 2,695 shares of the firm's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $200.79, for a total transaction of $541,129.05. Following the completion of the transaction, the vice president now directly owns 119,780 shares of the company's stock, valued at approximately $24,050,626.20. This trade represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Andrew R. Jassy sold 19,872 shares of Amazon.com stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total transaction of $4,000,233.60. Following the completion of the sale, the chief executive officer now owns 2,148,694 shares in the company, valued at approximately $432,532,102.20. This represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 99,537 shares of company stock worth $20,018,625. 9.70% of the stock is owned by corporate 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.