Freemont Management S.A. Trims Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Jun 8th, 2023

Freemont Management S.A. decreased its stake in Amazon.com, Inc. (NASDAQ:AMZN – Get Rating) by 3.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,900 shares of the e-commerce giant’s stock after selling 3,240 shares during the quarter. Amazon.com makes up 1.2% of Freemont Management S.A.’s portfolio, making the stock its 29th biggest holding. Freemont Management S.A.’s holdings in Amazon.com were worth $7,888,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp boosted its stake in Amazon.com by 1,869.1% during the second quarter. State Street Corp now owns 326,727,487 shares of the e-commerce giant’s stock valued at $34,701,726,000 after buying an additional 310,134,486 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Amazon.com by 1,838.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock valued at $33,134,481,000 after purchasing an additional 295,880,050 shares during the last quarter. FMR LLC lifted its stake in shares of Amazon.com by 1,792.4% in the 2nd quarter. FMR LLC now owns 286,047,356 shares of the e-commerce giant’s stock valued at $30,381,089,000 after purchasing an additional 270,931,640 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Amazon.com by 1,867.0% in the second quarter. Northern Trust Corp now owns 94,997,372 shares of the e-commerce giant’s stock worth $10,089,669,000 after buying an additional 90,167,792 shares during the period. Finally, Swiss National Bank raised its holdings in shares of Amazon.com by 1,909.7% in the second quarter. Swiss National Bank now owns 39,731,440 shares of the e-commerce giant’s stock worth $4,219,876,000 after buying an additional 37,754,468 shares during the period. Hedge funds and other institutional investors own 57.64% of the company’s stock.

Insider Buying and Selling at Amazon.com

In other news, CEO Adam Selipsky sold 2,299 shares of the business’s stock in a transaction on Tuesday, March 21st. The shares were sold at an average price of $100.34, for a total transaction of $230,681.66. Following the completion of the sale, the chief executive officer now directly owns 138,320 shares of the company’s stock, valued at approximately $13,879,028.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Amazon.com news, CEO Douglas J. Herrington sold 4,000 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $105.00, for a total value of $420,000.00. Following the completion of the transaction, the chief executive officer now owns 552,298 shares in the company, valued at approximately $57,991,290. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Adam Selipsky sold 2,299 shares of the stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $100.34, for a total transaction of $230,681.66. Following the completion of the transaction, the chief executive officer now owns 138,320 shares of the company’s stock, valued at $13,879,028.80. The disclosure for this sale can be found here. In the last three months, insiders sold 75,144 shares of company stock worth $8,513,127. Insiders own 12.70% of the company’s stock.

Amazon.com Trading Down 4.2 %

Shares of AMZN opened at $121.23 on Thursday. The stock has a fifty day moving average of $109.48 and a two-hundred day moving average of $99.44. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.69 and a current ratio of 0.92. The company has a market capitalization of $1.24 trillion, a PE ratio of 288.64, a price-to-earnings-growth ratio of 2.43 and a beta of 1.26. Amazon.com, Inc. has a fifty-two week low of $81.43 and a fifty-two week high of $146.57.

Amazon.com (NASDAQ:AMZN – Get Rating) last issued its quarterly earnings results on Thursday, April 27th. The e-commerce giant reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.09. The company had revenue of $127.36 billion during the quarter, compared to the consensus estimate of $124.57 billion. Amazon.com had a return on equity of 5.85% and a net margin of 0.82%. Amazon.com’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.21 EPS. As a group, analysts forecast that Amazon.com, Inc. will post 1.57 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on AMZN shares. Wells Fargo & Company assumed coverage on Amazon.com in a research report on Wednesday. They set an “overweight” rating on the stock. Moffett Nathanson lowered their price objective on Amazon.com from $119.00 to $116.00 and set an “outperform” rating for the company in a research report on Monday, April 24th. Needham & Company LLC reissued a “buy” rating and issued a $120.00 price objective on shares of Amazon.com in a research report on Wednesday, April 12th. Barclays lowered their price objective on Amazon.com from $150.00 to $140.00 in a research report on Friday, April 28th. Finally, Wolfe Research raised their price objective on Amazon.com from $130.00 to $140.00 in a research report on Friday, April 28th. Three investment analysts have rated the stock with a hold rating and forty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $144.14.

Amazon.com Profile

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Amazon.com, Inc is a multinational technology company, which engages in the provision of online retail shopping services. It operates through the following segments: North America, International, and Amazon Web Services (AWS). The North America segment is involved in the retail sales of consumer products including from sellers and subscriptions through North America-focused online and physical stores.