KLP Kapitalforvaltning AS Makes New Investment in Amazon.com, Inc. (NASDAQ:AMZN)

KLP Kapitalforvaltning AS acquired a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,181,100 shares of the e-commerce giant's stock, valued at approximately $697,902,000. Amazon.com makes up about 3.3% of KLP Kapitalforvaltning AS's holdings, making the stock its 4th largest holding.

Several other hedge funds and other institutional investors have also bought and sold shares of AMZN. Cable Hill Partners LLC increased its holdings in shares of Amazon.com by 0.5% in the fourth quarter. Cable Hill Partners LLC now owns 9,588 shares of the e-commerce giant's stock valued at $2,104,000 after purchasing an additional 44 shares in the last quarter. Quattro Financial Advisors LLC boosted its holdings in Amazon.com by 23.8% in the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant's stock valued at $51,000 after acquiring an additional 45 shares during the last quarter. Northern Capital Management Inc. raised its holdings in Amazon.com by 0.6% during the 4th quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant's stock worth $1,613,000 after purchasing an additional 45 shares during the last quarter. White Wing Wealth Management raised its stake in shares of Amazon.com by 2.4% during the fourth quarter. White Wing Wealth Management now owns 1,972 shares of the e-commerce giant's stock worth $433,000 after buying an additional 47 shares during the last quarter. Finally, MBM Wealth Consultants LLC lifted its holdings in Amazon.com by 0.6% in the fourth quarter. MBM Wealth Consultants LLC now owns 8,578 shares of the e-commerce giant's stock valued at $1,889,000 after buying an additional 48 shares during the period. Hedge funds and other institutional investors own 72.20% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on AMZN shares. Piper Sandler reaffirmed an "overweight" rating and set a $265.00 price objective (up from $225.00) on shares of Amazon.com in a research note on Friday, February 7th. The Goldman Sachs Group lowered their target price on shares of Amazon.com from $255.00 to $220.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Amazon.com from $287.00 to $206.00 and set a "buy" rating for the company in a report on Monday, April 14th. Westpark Capital initiated coverage on Amazon.com in a report on Tuesday, April 1st. They issued a "buy" rating and a $280.00 price target for the company. Finally, HSBC increased their target price on Amazon.com from $225.00 to $270.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Two research analysts have rated the stock with a hold rating and forty-five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Amazon.com currently has a consensus rating of "Moderate Buy" and a consensus price target of $247.56.

Amazon.com Trading Up 1.3 %

Shares of NASDAQ:AMZN traded up $2.45 during midday trading on Friday, hitting $188.99. 36,349,105 shares of the stock were exchanged, compared to its average volume of 41,913,658. The business's 50-day moving average price is $193.52 and its 200 day moving average price is $208.05. The stock has a market capitalization of $2.00 trillion, a price-to-earnings ratio of 34.18, a P/E/G ratio of 1.50 and a beta of 1.39. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. Analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Transactions at Amazon.com

In other news, VP Shelley Reynolds sold 8,833 shares of Amazon.com stock in a transaction on Friday, February 21st. The shares were sold at an average price of $222.47, for a total value of $1,965,077.51. Following the completion of the sale, the vice president now owns 119,780 shares in the company, valued at $26,647,456.60. The trade was a 6.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Douglas J. Herrington sold 5,501 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $228.44, for a total transaction of $1,256,648.44. Following the transaction, the chief executive officer now owns 505,318 shares in the company, valued at $115,434,843.92. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 104,798 shares of company stock worth $23,341,803 over the last ninety days. 10.80% of the stock is owned by insiders.

Amazon.com 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.