Veritas Asset Management LLP Trims Position in Amazon.com, Inc. (NASDAQ:AMZN)

Veritas Asset Management LLP reduced its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 32.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 5,257,561 shares of the e-commerce giant’s stock after selling 2,485,262 shares during the quarter. Amazon.com makes up about 10.8% of Veritas Asset Management LLP’s portfolio, making the stock its 2nd largest holding. Veritas Asset Management LLP’s holdings in Amazon.com were worth $1,153,456,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. FourThought Financial Partners LLC grew its stake in shares of Amazon.com by 1.4% in the fourth quarter. FourThought Financial Partners LLC now owns 79,400 shares of the e-commerce giant’s stock worth $17,420,000 after purchasing an additional 1,124 shares during the last quarter. Twin Peaks Wealth Advisors LLC grew its position in shares of Amazon.com by 6.5% in the 4th quarter. Twin Peaks Wealth Advisors LLC now owns 30,754 shares of the e-commerce giant’s stock valued at $6,747,000 after buying an additional 1,880 shares during the last quarter. Horizon Advisory Services Inc. increased its stake in shares of Amazon.com by 6.0% in the fourth quarter. Horizon Advisory Services Inc. now owns 2,120 shares of the e-commerce giant’s stock valued at $465,000 after buying an additional 120 shares during the period. Bank of New York Mellon Corp raised its position in shares of Amazon.com by 0.8% during the fourth quarter. Bank of New York Mellon Corp now owns 67,092,427 shares of the e-commerce giant’s stock worth $14,719,407,000 after acquiring an additional 545,292 shares during the last quarter. Finally, EdgeRock Capital LLC lifted its stake in shares of Amazon.com by 1.3% in the fourth quarter. EdgeRock Capital LLC now owns 11,027 shares of the e-commerce giant’s stock worth $2,419,000 after acquiring an additional 137 shares during the period. Institutional investors own 72.20% of the company’s stock.

Insider Activity at Amazon.com

In related news, SVP David Zapolsky sold 5,848 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $220.72, for a total transaction of $1,290,770.56. Following the completion of the transaction, the senior vice president now owns 69,162 shares of the company’s stock, valued at approximately $15,265,436.64. The trade was a 7.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Shelley Reynolds sold 8,833 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $222.47, for a total transaction of $1,965,077.51. Following the sale, the vice president now directly owns 119,780 shares in the company, valued at $26,647,456.60. This trade represents a 6.87 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 102,298 shares of company stock worth $22,871,828. Corporate insiders own 10.80% of the company’s stock.

Amazon.com Price Performance

Amazon.com stock opened at $201.36 on Friday. The company has a market cap of $2.13 trillion, a price-to-earnings ratio of 36.41, a PEG ratio of 1.50 and a beta of 1.19. The business’s 50 day simple moving average is $217.53 and its 200 day simple moving average is $208.75. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52.

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

Analyst Ratings Changes

AMZN has been the subject of a number of recent analyst reports. Morgan Stanley increased their target price on shares of Amazon.com from $230.00 to $280.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Scotiabank lifted their target price on shares of Amazon.com from $246.00 to $306.00 and gave the stock a “sector outperform” rating in a research note on Friday, January 24th. Maxim Group boosted their target price on shares of Amazon.com from $260.00 to $280.00 and gave the company a “buy” rating in a report on Friday, February 7th. Telsey Advisory Group reissued an “outperform” rating and issued a $275.00 price objective on shares of Amazon.com in a research report on Friday, February 7th. Finally, Sanford C. Bernstein upped their target price on Amazon.com from $235.00 to $265.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. Two investment 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $260.65.

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.