Sumway Development Ltd. adds Amazon.com (AMZN) to its portfolio

Amazon.com (AMZN) : Sumway Development Ltd. added new position in Amazon.com during the most recent quarter end. The investment management firm now holds 35,650 shares of Amazon.com which is valued at $22,120,825 , the company said in a statement filed on Apr 20, 2016 with the SEC.Amazon.com makes up approximately 10.53% of Sumway Development Ltd.’s portfolio.

Amazon.com closed down -10.5 points or -1.66% at $620.5 with 50,83,904 shares getting traded on Friday. Post opening the session at $624.47, the shares hit an intraday low of $611.56 and an intraday high of $628.25 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Marathon Asset Management Llp added AMZN to its portfolio by purchasing 17,515 company shares during the most recent quarter which is valued at $10,868,058. Amazon.com makes up approx 0.24% of Marathon Asset Management Llp’s portfolio.Gateway Investment Advisers reduced its stake in AMZN by selling 9,107 shares or 3.24% in the most recent quarter. The Hedge Fund company now holds 271,721 shares of AMZN which is valued at $168,602,881. Amazon.com makes up approx 1.44% of Gateway Investment Advisers’s portfolio.Highland Capital Management boosted its stake in AMZN in the latest quarter, The investment management firm added 275 additional shares and now holds a total of 9,830 shares of Amazon.com which is valued at $6,152,499. Amazon.com makes up approx 0.52% of Highland Capital Management’s portfolio.Oakbrook Investments boosted its stake in AMZN in the latest quarter, The investment management firm added 2,370 additional shares and now holds a total of 29,579 shares of Amazon.com which is valued at $18,513,200. Amazon.com makes up approx 1.18% of Oakbrook Investments’s portfolio.

On the company’s financial health, Amazon.com reported $1.00 EPS for the quarter, missing the analyst consensus estimate by $ -0.58 based on the information available during the earnings call on Jan 28, 2016. Analyst had a consensus of $1.58. The company had revenue of $35747.00 million for the quarter, compared to analysts expectations of $35976.69 million. The company’s revenue was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 EPS.

Many Wall Street Analysts have commented on Amazon.com. Company shares were Reiterated by Stifel on Mar 29, 2016 to “Buy”, Firm has raised the Price Target to $ 775 from a previous price target of $750 .Amazon.com was Downgraded by Raymond James to ” Outperform” on Mar 22, 2016. Company shares were Upgraded by Canaccord Genuity on Feb 18, 2016 to ” Buy”, Firm has raised the Price Target to $ 750 from a previous price target of $600 .

Amazon.com Inc. (Amazon.com) is an e-commerce company. The Company sells a range of products and services through its Websites. The Company’s products are offered through consumer-facing Websites which include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers. It designs its Websites to enable products to be sold by the Company and by third parties across various product categories. It also manufactures and sells electronic devices including Kindle e-readers Fire tablets Fire TVs Echo and Fire phones. Amazon.com operates in two segments: North America and International. The North America segment focuses on retail sales earned through North America-focused Websites. The International segment focuses on the Company’s operations done through its international Websites. It serves developers and enterprises through Amazon Web Services (AWS). It serves authors and independent publishers with Kindle Direct Publishing.

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