Cortland Associates Inc. MO Has $43.53 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Cortland Associates Inc. MO decreased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 241,333 shares of the e-commerce giant’s stock after selling 3,509 shares during the period. Amazon.com accounts for about 5.6% of Cortland Associates Inc. MO’s holdings, making the stock its 8th largest holding. Cortland Associates Inc. MO’s holdings in Amazon.com were worth $43,532,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Cooksen Wealth LLC bought a new position in shares of Amazon.com in the 4th quarter worth approximately $30,000. PayPay Securities Corp raised its position in shares of Amazon.com by 54.3% in the 3rd quarter. PayPay Securities Corp now owns 267 shares of the e-commerce giant’s stock worth $34,000 after acquiring an additional 94 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Amazon.com by 45.0% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 277 shares of the e-commerce giant’s stock worth $42,000 after acquiring an additional 86 shares in the last quarter. Strid Group LLC bought a new position in shares of Amazon.com in the 4th quarter worth approximately $43,000. Finally, Clarity Asset Management Inc. bought a new position in shares of Amazon.com in the 4th quarter worth approximately $46,000. Institutional investors own 72.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Sanford C. Bernstein increased their target price on Amazon.com from $175.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Maxim Group started coverage on Amazon.com in a research report on Wednesday, April 17th. They issued a “buy” rating and a $218.00 target price for the company. Piper Sandler upped their price target on Amazon.com from $185.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Wedbush upped their price target on Amazon.com from $220.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Finally, JMP Securities restated a “market outperform” rating and issued a $225.00 price target on shares of Amazon.com in a research note on Wednesday, April 24th. One research analyst has rated the stock with a hold rating, forty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $205.13.

Amazon.com Stock Performance

Amazon.com stock traded down $5.96 during trading on Tuesday, reaching $175.00. The company had a trading volume of 93,825,266 shares, compared to its average volume of 43,548,449. Amazon.com, Inc. has a 52 week low of $101.15 and a 52 week high of $189.77. The firm’s 50-day simple moving average is $178.38 and its 200 day simple moving average is $159.64. The firm has a market capitalization of $1.82 trillion, a price-to-earnings ratio of 60.34, a price-to-earnings-growth ratio of 1.55 and a beta of 1.17. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.29.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, February 1st. The e-commerce giant reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.19. Amazon.com had a return on equity of 16.61% and a net margin of 5.29%. The firm had revenue of $169.96 billion during the quarter, compared to analyst estimates of $165.96 billion. During the same quarter in the prior year, the company posted $0.21 earnings per share. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. Sell-side analysts forecast that Amazon.com, Inc. will post 4.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Adam Selipsky sold 500 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $155.72, for a total transaction of $77,860.00. Following the completion of the transaction, the chief executive officer now owns 116,560 shares of the company’s stock, valued at approximately $18,150,723.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $180.73, for a total transaction of $632,555.00. Following the sale, the chief executive officer now owns 512,858 shares of the company’s stock, valued at $92,688,826.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $155.72, for a total transaction of $77,860.00. Following the sale, the chief executive officer now directly owns 116,560 shares in the company, valued at approximately $18,150,723.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,214,010 shares of company stock worth $5,505,889,146. 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.