Amazon.com, Inc. (NASDAQ: AMZN ) Position Reduced by Sumitomo Life Insurance Co .


Sumitomo Life Insurance Co. reduced its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 1.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 7,008 shares of the e-commerce giant’s stock after selling 104 shares during the quarter. Amazon.com accounts for approximately 0.6% of Sumitomo Life Insurance Co.’s investment portfolio, making the stock its 10th largest holding. Sumitomo Life Insurance Co.’s holdings in Amazon.com were worth $22,846,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp boosted its holdings in Amazon.com by 1.5% in the first quarter. Fifth Third Bancorp now owns 177,679 shares of the e-commerce giant’s stock valued at $579,225,000 after purchasing an additional 2,686 shares during the period. Graypoint LLC boosted its holdings in Amazon.com by 57.9% in the first quarter. Graypoint LLC now owns 1,704 shares of the e-commerce giant’s stock valued at $5,555,000 after buying an additional 625 shares during the period. Castle Rock Wealth Management LLC boosted its holdings in Amazon.com by 10.6% in the first quarter. Castle Rock Wealth Management LLC now owns 1,715 shares of the e-commerce giant’s stock valued at $5,422,000 after buying an additional 164 shares during the period. Atlas Private Wealth Advisors purchased a new position in Amazon.com during the first quarter valued at approximately $6,229,000. Finally, Cherrydale Wealth Management LLC boosted its holdings in Amazon.com by 156.6% during the first quarter. Cherrydale Wealth Management LLC now owns 372 shares of the e-commerce giant’s stock valued at $1,212,000 after buying an additional 227 shares during the period. Hedge funds and other institutional investors own 72.51% of the company’s shares.

Amazon.com trades down 1.8%

NASDAQ:AMZN opened at $122.42 on Friday. The stock’s 50-day moving average is $112.81 and its 200-day moving average is $136.51. Amazon.com, Inc. it has a 52-week low of $101.26 and a 52-week high of $188.11. The company has a market cap of $1.25 trillion, a P/E ratio of 59.10, a P/E/G ratio of 4.25 and a beta of 1.25. The company has a debt-to-equity ratio of 0.35, a quick earnings ratio of 0.71 and a current ratio of 0.96.

Amazon.com (NASDAQ:AMZN – Get Rating ) last posted its quarterly earnings data on Thursday, April 28th. The e-commerce giant reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.23). The firm had revenue of $116.44 billion during the quarter, compared to analyst estimates of $116.52 billion. Amazon.com has a return on equity of 21.60% and a net margin of 4.48%. The company’s quarterly revenue was up 7.3% year over year. In the same quarter last year, the company reported $0.79 EPS. On average, analysts predict that Amazon.com, Inc. will post 1.13 EPS for the current fiscal year.

Internal activity

In related news, CEO David H. Clark sold 2,270 shares of the company’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $2,169.22, for a total value of $4,924,129.40. Following the completion of the transaction, the chief executive officer now directly owns 6,695 shares in the company, valued at $14,522,927.90. The sale was disclosed in a filing with the Securities and Exchange Commission, which is available through the SEC’s website. In other Amazon.com news, CEO David H. Clark sold 2,270 shares of the stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $2,169.22, for a total transaction of $4,924,129.40. Following the completion of the transaction, the chief executive officer now directly owns 6,695 shares in the company, valued at $14,522,927.90. The transaction was disclosed in a filing with the Securities and Exchange Commission, which is available via this hyperlink. Also, VP Shelly Reynolds sold 173 shares of the firm’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $2,169.22, for a total value of $375,275.06. Following the completion of the sale, the vice president now owns 5,989 shares of the company’s stock, valued at $12,991,458.58. Disclosure of this sale can be found here. Over the last three months, insiders have sold 4,803 shares of company stock worth $10,528,337. 12.70% of shares are owned by company insiders.

Analysts set new price targets

AMZN has been the subject of several recent research reports. TheStreet downgraded shares of Amazon.com from a “b” rating to a “c+” rating in a research report on Thursday, April 28th. Redburn Partners initiated coverage on shares of Amazon.com in a research report on Wednesday, June 29th. They issued a “buy” rating and a $270.00 target price for the company. Loop Capital decreased their price objective on shares of Amazon.com from $187.50 to $141.25 and set a “buy” rating for the company in a research report on Friday, May 27th. Telsey Advisory Group decreased their price objective on shares of Amazon.com from $170.00 to $145.00 and set an “outperform” rating for the company in a research report on Wednesday, July 13th. Finally, Canaccord Genuity Group lowered their price objective on shares of Amazon.com from $210.00 to $187.50 in a research report on Friday, April 29th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and thirty-eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Moderate Buy” and an average target price of $181.31, according to MarketBeat.

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Amazon.com, Inc is engaged in the retail sale of consumer products and subscriptions in North America and internationally. The company operates in three segments: North America, International and Amazon Web Services (AWS). It sells merchandise and content purchased for resale from third-party sellers through physical and online stores.

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)



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