Kitching Partners LLC Increases Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Kitching Partners LLC increased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 133.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,633 shares of the e-commerce giant’s stock after purchasing an additional 2,078 shares during the quarter. Amazon.com makes up about 0.9% of Kitching Partners LLC’s holdings, making the stock its 13th biggest position. Kitching Partners LLC’s holdings in Amazon.com were worth $677,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Maverick Capital Ltd. raised its position in Amazon.com by 6.3% in the third quarter. Maverick Capital Ltd. now owns 1,526,819 shares of the e-commerce giant’s stock worth $284,492,000 after acquiring an additional 89,888 shares during the period. Encompass More Asset Management increased its stake in shares of Amazon.com by 133.5% during the 3rd quarter. Encompass More Asset Management now owns 12,078 shares of the e-commerce giant’s stock worth $2,250,000 after purchasing an additional 6,906 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of Amazon.com in the 3rd quarter worth approximately $4,550,000. NCM Capital Management LLC lifted its stake in Amazon.com by 1.6% in the third quarter. NCM Capital Management LLC now owns 7,590 shares of the e-commerce giant’s stock valued at $1,414,000 after purchasing an additional 120 shares during the last quarter. Finally, Acropolis Investment Management LLC grew its holdings in Amazon.com by 9.2% during the third quarter. Acropolis Investment Management LLC now owns 23,409 shares of the e-commerce giant’s stock valued at $4,362,000 after purchasing an additional 1,963 shares during the period. 72.20% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Amazon.com news, Director Jonathan Rubinstein sold 5,004 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the transaction, the director now directly owns 99,396 shares in the company, valued at $19,864,290.60. This trade represents a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $208.85, for a total value of $625,790,203.70. Following the transaction, the insider now owns 917,416,976 shares in the company, valued at approximately $191,602,535,437.60. This trade represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,032,344 shares of company stock worth $1,253,456,822. Company insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on AMZN. JPMorgan Chase & Co. lifted their price objective on Amazon.com from $250.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Amazon.com from $225.00 to $232.00 and gave the company a “buy” rating in a research report on Friday, November 1st. DA Davidson reaffirmed a “buy” rating and issued a $235.00 price objective on shares of Amazon.com in a report on Thursday, October 10th. Tigress Financial boosted their target price on shares of Amazon.com from $245.00 to $290.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, Oppenheimer raised their price target on Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a report 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 given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $243.67.

Amazon.com Stock Performance

AMZN stock opened at $222.13 on Friday. Amazon.com, Inc. has a 1 year low of $148.21 and a 1 year high of $233.00. The stock has a market capitalization of $2.34 trillion, a price-to-earnings ratio of 47.57, a PEG ratio of 1.54 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The stock’s fifty day moving average is $215.78 and its two-hundred day moving average is $195.11.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. During the same quarter in the prior year, the firm posted $0.85 EPS. Amazon.com’s revenue was up 11.0% compared to the same quarter last year. On average, research analysts predict that Amazon.com, Inc. will post 5.29 EPS for the current year.

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.