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WCM Investment Management LLC Increases Stake in Amazon.com, Inc. (NASDAQ:AMZN)

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Key Points

  • WCM Investment Management LLC increased its holdings in Amazon.com by 0.8%, now owning approximately 5.86 million shares valued at about $1.13 billion, making it the firm's 11th largest investment.
  • Amazon's recent quarterly earnings reported earnings per share of $1.59, exceeding estimates of $1.38, with revenue of $155.67 billion, marking an 8.6% year-over-year growth.
  • Analysts have mixed ratings for Amazon, with a consensus target price of $254.33 and a significant majority rating the stock a buy, while some have recently cut their price targets.
  • MarketBeat previews top five stocks to own in September.

WCM Investment Management LLC grew its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 0.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,860,266 shares of the e-commerce giant's stock after purchasing an additional 44,129 shares during the quarter. Amazon.com comprises approximately 2.9% of WCM Investment Management LLC's portfolio, making the stock its 11th biggest holding. WCM Investment Management LLC owned 0.06% of Amazon.com worth $1,129,390,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Amazon.com during the fourth quarter valued at approximately $27,266,582,000. GAMMA Investing LLC raised its position in shares of Amazon.com by 21,420.5% during the 1st quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant's stock valued at $5,754,425,000 after buying an additional 30,104,520 shares in the last quarter. Capital World Investors raised 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 valued at $14,416,078,000 after buying an additional 17,681,004 shares in the last quarter. Vanguard Group Inc. grew its position in Amazon.com by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock worth $180,637,081,000 after acquiring an additional 17,635,391 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its stake in Amazon.com by 17,054.5% in the fourth quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant's stock valued at $2,652,116,000 after acquiring an additional 12,018,120 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Westpark Capital reaffirmed a "buy" rating and set a $280.00 price target on shares of Amazon.com in a research note on Friday, May 2nd. Evercore ISI cut their target price on Amazon.com from $270.00 to $260.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Roth Capital set a $250.00 price target on shares of Amazon.com and gave the company a "buy" rating in a research report on Tuesday, July 8th. Wedbush boosted their price objective on shares of Amazon.com from $235.00 to $250.00 and gave the stock an "outperform" rating in a report on Wednesday. Finally, Cantor Fitzgerald increased their target price on shares of Amazon.com from $240.00 to $260.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Three analysts have rated the stock with a hold rating, forty-five have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $255.52.

View Our Latest Analysis on Amazon.com

Insider Buying and Selling at Amazon.com

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of Amazon.com 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 completion of the sale, the insider owned 897,722,088 shares of the company's stock, valued at $201,816,902,603.28. The trade was a 0.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders sold 25,102,037 shares of company stock worth $5,674,871,223. 9.70% of the stock is owned by corporate insiders.

Amazon.com Stock Performance

NASDAQ:AMZN traded down $0.82 during mid-day trading on Wednesday, reaching $230.19. The company's stock had a trading volume of 32,258,949 shares, compared to its average volume of 33,970,456. Amazon.com, Inc. has a 12-month low of $151.61 and a 12-month high of $242.52. The firm's fifty day moving average price is $217.31 and its two-hundred day moving average price is $209.12. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17. The stock has a market cap of $2.44 trillion, a P/E ratio of 37.49, a PEG ratio of 1.71 and a beta of 1.33.

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. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The firm had revenue of $155.67 billion during the quarter, compared to analysts' expectations of $154.96 billion. During the same period in the previous year, the company earned $0.98 earnings per share. The firm's quarterly revenue was up 8.6% on a year-over-year basis. On average, equities analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Amazon.com Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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