Stonebridge Capital Management Inc. Reduces Position in Amazon.com, Inc. (NASDAQ:AMZN)

Stonebridge Capital Management Inc. lowered its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.8% in the 1st quarter, according to its latest Form 13F filing with the SEC. The firm owned 7,405 shares of the e-commerce giant after selling 290 shares during the period. Stonebridge Capital Management Inc.’s stake in Amazon.com was worth $1,336,000, according to its latest SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Amazon.com by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 771,086,427 shares of the e-commerce giant’s stock worth $117,158,872,000 after purchasing an additional 13,134,632 shares during the period. FMR LLC increased its stake in Amazon.com by 7.7% in the third quarter. FMR LLC now owns 302,101,441 shares of the e-commerce giant’s stock worth $38,403,135,000 after purchasing an additional 21,649,871 shares during the period. Norges Bank bought a new stake in Amazon.com in the fourth quarter worth $17,700,551,000. Northern Trust Corp increased its holdings in Amazon.com by 3.7% in the third quarter. Northern Trust Corp now owns 92,329,336 shares of the e-commerce giant’s stock worth $11,736,905,000 after acquiring an additional 3,260,411 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in Amazon.com by 2.5% in the fourth quarter. Jennison Associates LLC now owns 56,371,051 shares of the e-commerce giant’s stock worth $8,565,017,000 after acquiring an additional 1,389,503 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street analysts assess

Several equity research analysts have commented on AMZN shares. Evercore ISI raised their price target on Amazon.com from $220.00 to $225.00 and gave the stock a “outperform” rating in a report on Wednesday, May 1. Stifel Nicolaus raised their price target on Amazon.com from $224.00 to $228.00 and gave the stock a “buy” rating in a report on Wednesday, May 1. Truist Financial raised their price target on Amazon.com from $216.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, May 1. Tigress Financial raised their price target on Amazon.com from $210.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, May 30. Finally, Moffett Nathanson reissued a “buy” rating and set a $228.00 price target on shares of Amazon.com in a report on Thursday, April 11. One analyst rated the stock a “hold,” forty-three have given the stock a “buy” rating, and one has given the stock a “strong buy” rating. The company has a consensus rating of “buy” and an average price target of $215.86, according to data from MarketBeat.

Read our latest stock report on AMZN

Internal Activity at Amazon.com

In related news, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction that occurred on Thursday, April 4. The shares were sold at an average price of $184.00, for a total transaction amount of $92,000.00. Following the completion of the transaction, the CEO now directly owns 131,600 shares of the company’s stock, valued at $24,214,400. The sale was disclosed in documents filed with the SEC, which can be accessed through this link In related news, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction that occurred on Thursday, April 4. The shares were sold at an average price of $184.00, for a total transaction amount of $92,000.00. Following the completion of the transaction, the CEO now directly owns 131,600 shares of the company’s stock, valued at $24,214,400. The sale was disclosed in documents filed with the SEC, which can be accessed through this link . Additionally, SVP David Zapolsky sold 4,710 shares of the company’s stock in a transaction that occurred on Thursday, June 27. The shares were sold at an average price of $195.00, for a total of $918,450.00. Following the transaction, the SVP now directly owns 59,500 shares of the company’s stock, valued at $11,602,500. Disclosure of this sale can be found here. Over the last three months, insiders have sold 66,548 shares of the company’s stock, valued at $12,180,239. Insiders own 10.80% of the company’s stock.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $197.20 on Tuesday. The company has a current ratio of 1.07, a current ratio of 0.87 and a debt-to-equity ratio of 0.27. Amazon.com, Inc. has a 12-month low of $118.35 and a 12-month high of $199.84. The stock has a 50-day moving average price of $183.87 and a 200-day moving average price of $173.28. The stock has a market capitalization of $2.05 trillion, a P/E ratio of 55.24, a P/E/G ratio of 1.38 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN – Get Free Report) last released its financial results on Tuesday, April 30. The e-commerce giant reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.15. Amazon.com had a return on equity of 19.86% and a net margin of 6.38%. The company had revenue of $143.31 billion for the quarter, compared to analysts’ expectations of $142.65 billion. In the same quarter last year, the company reported earnings per share of $0.31. The company’s revenue increased 12.5% ​​year-over-year. Equity research analysts forecast that Amazon.com, Inc. will post 4.72 EPS for the current fiscal year.

About Amazon.com

(Free report)

Amazon.com, Inc. is a consumer products retailer, advertising, and subscription service through online and physical stores in North America and internationally. The company operates in three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TV, Echo, Ring, Blink, and eero; and develops and produces multimedia content.

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