Cortland Associates Inc. MO Trims Position in Amazon.com, Inc. (NASDAQ:AMZN)

Cortland Associates Inc. MO lowered its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 0.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 241,583 shares of the e-commerce giant’s stock after selling 980 shares during the period. Amazon.com accounts for approximately 5.5% of Cortland Associates Inc. MO’s holdings, making the stock its 9th biggest holding. Cortland Associates Inc. MO’s holdings in Amazon.com were worth $45,014,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. PayPay Securities Corp boosted its holdings in Amazon.com by 64.6% in the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares during the period. Hoese & Co LLP bought a new position in shares of Amazon.com in the 3rd quarter worth about $37,000. Bull Oak Capital LLC acquired a new position in shares of Amazon.com in the 3rd quarter valued at about $45,000. Values First Advisors Inc. bought a new stake in shares of Amazon.com during the 3rd quarter valued at about $56,000. Finally, Christopher J. Hasenberg Inc raised its stake in Amazon.com by 650.0% during the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after acquiring an additional 260 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analysts Set New Price Targets

AMZN has been the subject of a number of recent research reports. Oppenheimer upped their price objective on Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Needham & Company LLC restated a “buy” rating and set a $250.00 price target on shares of Amazon.com in a research report on Tuesday. Wedbush increased their price objective on shares of Amazon.com from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. UBS Group boosted their target price on shares of Amazon.com from $220.00 to $223.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Finally, Rosenblatt Securities raised their price target on shares of Amazon.com from $221.00 to $236.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Amazon.com has an average rating of “Moderate Buy” and a consensus price target of $237.42.

Amazon.com Price Performance

Amazon.com stock opened at $230.26 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The stock has a market cap of $2.42 trillion, a price-to-earnings ratio of 49.49, a price-to-earnings-growth ratio of 1.52 and a beta of 1.16. The firm has a 50-day moving average of $198.98 and a two-hundred day moving average of $188.78. Amazon.com, Inc. has a 1 year low of $144.05 and a 1 year high of $231.20.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. During the same period in the prior year, the firm earned $0.85 earnings per share. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, research analysts forecast that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Jonathan Rubinstein sold 5,004 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $199.85, for a total value of $1,000,049.40. Following the completion of the transaction, the director now owns 99,396 shares of the company’s stock, valued at $19,864,290.60. The trade was a 4.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP David Zapolsky sold 2,190 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the sale, the senior vice president now owns 62,420 shares in the company, valued at approximately $12,171,900. This represents a 3.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,034,534 shares of company stock worth $1,253,883,872 in the last 90 days. 10.80% 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.