Amazon.com, Inc. $AMZN Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lowered its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 10.8% in the second quarter, HoldingsChannel.com reports. The firm owned 821,471 shares of the e-commerce giant’s stock after selling 99,895 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Amazon.com were worth $180,223,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Carderock Capital Management Inc. purchased a new stake in shares of Amazon.com in the 2nd quarter valued at $27,000. Maryland Capital Advisors Inc. increased its stake in Amazon.com by 81.9% during the second quarter. Maryland Capital Advisors Inc. now owns 211 shares of the e-commerce giant’s stock worth $46,000 after purchasing an additional 95 shares during the period. Ryan Investment Management Inc. purchased a new stake in Amazon.com during the second quarter worth about $48,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of Amazon.com during the first quarter worth about $59,000. Finally, Access Investment Management LLC purchased a new position in shares of Amazon.com in the second quarter valued at approximately $74,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AMZN shares. Truist Financial set a $290.00 target price on shares of Amazon.com in a report on Friday, October 31st. Mizuho cut Amazon.com from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Cowen reiterated a “buy” rating on shares of Amazon.com in a report on Tuesday, November 25th. Telsey Advisory Group upped their price target on Amazon.com from $265.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Finally, Zacks Research upgraded Amazon.com from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, fifty-seven have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $296.11.

Insiders Place Their Bets

In other Amazon.com news, CEO Andrew R. Jassy sold 19,872 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $216.94, for a total value of $4,311,031.68. Following the completion of the transaction, the chief executive officer directly owned 2,208,310 shares in the company, valued at approximately $479,070,771.40. The trade was a 0.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Matthew S. Garman sold 17,768 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $216.90, for a total value of $3,853,879.20. Following the transaction, the chief executive officer directly owned 6,273 shares in the company, valued at approximately $1,360,613.70. This represents a 73.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 82,234 shares of company stock valued at $19,076,767. 9.70% of the stock is currently owned by insiders.

Amazon.com Stock Down 1.4%

Shares of NASDAQ:AMZN opened at $229.11 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.01 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $2.45 trillion, a P/E ratio of 32.36, a P/E/G ratio of 1.60 and a beta of 1.37. Amazon.com, Inc. has a 52-week low of $161.38 and a 52-week high of $258.60. The stock’s fifty day simple moving average is $228.38 and its 200-day simple moving average is $223.65.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, October 30th. The e-commerce giant reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.38. The firm had revenue of $180.17 billion during the quarter, compared to analysts’ expectations of $177.53 billion. Amazon.com had a return on equity of 23.62% and a net margin of 11.06%.The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.43 EPS. As a group, equities research analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal 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.