Cohen Klingenstein LLC Trims Position in Amazon.com, Inc. (NASDAQ:AMZN)

Cohen Klingenstein LLC lowered its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 9.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 553,705 shares of the e-commerce giant’s stock after selling 55,475 shares during the period. Amazon.com comprises 4.2% of Cohen Klingenstein LLC’s holdings, making the stock its 5th largest position. Cohen Klingenstein LLC’s holdings in Amazon.com were worth $121,477,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fiera Capital Corp lifted its stake in Amazon.com by 12.5% in the second quarter. Fiera Capital Corp now owns 401,113 shares of the e-commerce giant’s stock worth $77,515,000 after acquiring an additional 44,615 shares during the period. First Pacific Advisors LP increased its position in shares of Amazon.com by 1.1% during the second quarter. First Pacific Advisors LP now owns 1,657,154 shares of the e-commerce giant’s stock valued at $320,245,000 after buying an additional 17,465 shares during the period. Kornitzer Capital Management Inc. KS lifted its holdings in Amazon.com by 4.2% in the second quarter. Kornitzer Capital Management Inc. KS now owns 239,233 shares of the e-commerce giant’s stock worth $46,232,000 after buying an additional 9,592 shares during the period. 9258 Wealth Management LLC boosted its position in Amazon.com by 2.1% during the 2nd quarter. 9258 Wealth Management LLC now owns 28,039 shares of the e-commerce giant’s stock valued at $5,419,000 after acquiring an additional 564 shares in the last quarter. Finally, Bordeaux Wealth Advisors LLC grew its holdings in shares of Amazon.com by 94.5% during the 2nd quarter. Bordeaux Wealth Advisors LLC now owns 24,062 shares of the e-commerce giant’s stock worth $4,650,000 after acquiring an additional 11,693 shares during the period. 72.20% of the stock is currently owned by institutional investors.

Amazon.com Price Performance

Amazon.com stock opened at $237.68 on Friday. The firm’s fifty day moving average is $223.83 and its 200 day moving average is $198.87. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $241.77. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The company has a market cap of $2.50 trillion, a price-to-earnings ratio of 50.90, a PEG ratio of 1.35 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The company had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. During the same quarter last year, the business posted $0.85 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. Sell-side analysts forecast that Amazon.com, Inc. will post 5.3 EPS for the current fiscal year.

Analysts Set New Price Targets

AMZN has been the subject of a number of research reports. TD Cowen increased their price objective on Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Monness Crespi & Hardt increased their price objective on shares of Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Robert W. Baird upped their target price on shares of Amazon.com from $220.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. UBS Group lifted their price objective on Amazon.com from $230.00 to $264.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Finally, Raymond James boosted their price objective on shares of Amazon.com from $230.00 to $260.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Amazon.com has an average rating of “Moderate Buy” and an average target price of $250.33.

Insider Activity

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the sale, the director now owns 24,912 shares in the company, valued at $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the sale, the insider now directly owns 917,416,976 shares of the company’s stock, valued at $191,602,535,437.60. This represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,027,340 shares of company stock valued at $1,252,456,773 in the last ninety days. Insiders own 10.80% of the company’s stock.

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.